
Show HN: REBL – Credit based on your income and expenses - vvillait88
https://www.rebl.cards
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konschubert
This is going to be a negative comment, I’m sorry in case I’m misunderstanding
things.

I wonder how big the set of people is for whom it holds that:

1\. Income > Expenses

2\. They make good financial decisions

3\. They decide they need a small loan

You’ll always have a selection bias towards people who do 3, but not 2 or 1.
Thus you’ll be forced to price the high default rate into your product or use
predatory practices to squeeze peoples payments when they cannot afford them.

> We are looking to build a product that isn't predatory towards the people
> that need help the most.

I think the main problem with small loans is that they are almost never used
for investment. They are used to buy stuff for consumption.

If you’re just barely cash flow positive, buying a TV on credit is not a good
long term choice, and the loan that enables it feels predatory.

Last, I am not sure if giving up all privacy is the kind of “future of credit”
that we should applaud.

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vvillait88
Hey konschubert, first off thanks for your feedback and poking holes into our
product, it really helps us with our planning especially in the early stages
of our company.

We are building this product as an alternative to what exists in the the
market today. One of the problems we solve with not giving cash to the
consumers like alternative lenders is that we can kind of control where the
money is spent. Illicit goods have to be purchased with cash and with a card
method, our consumers will be spending with reputable retailers where CCs are
accepted.

Another problem is that the primary method for these consumers to solve their
money issues include loans and credit cards with high interest rates, fees
that make money when a consumer carries a balance. With our 30 day payback, we
want to make sure those fees don’t happen, we strictly want to focus on
monetizing through the interchange fee and once we grow, partner offers
similar to how seated and freebird work. Also, regarding the limits, since we
have transparency into their bank accounts, we will grant limits that are
within the means of being paid back by our users.

Lastly, regarding the privacy issue, totally understand that point of view.
This card is built for someone that has no other option because they are new
or have bad credit. We want to bring them into a world of manageable credit
that helps them grow into the next level of cards whether that is with us or
another company.

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vvillait88
Hey everyone, Varun, founder of Rebl here. We are looking to build a product
that isn't predatory towards the people that need help the most. Locking
individuals into a high-interest rate card is the current trend of the market
and at Rebl, we want to change that.

Rebl is thin file charge card designed for those with steady cash flow but
relies on access to their bank account instead of their credit score. Our
ideal consumer is someone with low or no credit, as well as someone who may
have damaged their credit in the past but is rebuilding. We set a low starting
limit that grows with the consumer's needs with a 30-day revolving payback
window. Because of the payback period and full transparency into a user's
financials which also us to make on the fly credit decisions, we carry low
amounts of risk compared to our competitors and see this as the future of
credit.

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jungong
Hello from Dapp.com!

