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About Yendo
Yendo offers a unique twist on a traditional secured credit card. Instead of using a cash security deposit to open the credit card and access a credit line, you use a personal asset — your vehicle.
Pros & Cons
- Up to $10,000 in credit
- Reports to the main credit bureaus
- $0 interest for on-time payments
- Use card wherever Mastercard is accepted
- Risk of losing your vehicle
- $40 annual fee
- 29.88% fixed APR (as of publishing)
- Not available in all states
Our editor’s take
If you have a qualifying vehicle, you can apply for the Yendo secured credit card with no effect on your credit score — and could receive partial access to your credit line the same day.
If you aren’t sure about being able to make the payments, though, you may want to reconsider. As a last resort to recoup your outstanding balance, Yendo may repossess your vehicle to cover your debt.
How does Yendo work?
The Yendo Card is a credit card secured by the cardholder’s vehicle. To apply, visit the Yendo website and hit the orange “Get Started” button.
From here, you complete the preapproval steps. The company will ask you for your personal information and details about your vehicle.
If you receive approval, you’ll need to send in your car’s title to activate your card. Since it takes anywhere from seven to 10 days to get your physical card, Yendo allows you instant card access through a virtual credit card, but only after you’ve sent in the title through FedEx.
Yendo products and services
Yendo’s Credit Card is its only financial product at the moment; there are minimum requirements for approval. These include:
- Having a valid Social Security number or taxpayer identification number
- Having a valid government-issued ID
- Living in one of the 37 states where Yendo operates
- Being at least 18 years old
- Having a valid email address
- Having a smartphone
- Owning a 1996-or-newer vehicle outright and having the title with you listed as the owner
- Having income to support monthly obligations
Yendo rates
As of publishing, Yendo has a 29.88% annual percentage rate (APR) for both cash advances and for outstanding balances not paid within 25 days of the close of a monthly statement. There is also a $40 annual fee.
Yendo fees
Yendo does have a few fees for its users:
- Annual fee: $40
- Foreign transaction fee: 3%
- Cash advance fee: 3%
- Balance transfer fee: 5%
- Annual percentage rate on purchases and cash advances: 29.88%
Yendo FAQ
Do you have to own your car for Yendo?
Yes, you cannot be financing or leasing your vehicle. You must own your vehicle outright and have the title in your name.
How much is the Yendo monthly payment?
The minimum monthly payment is 1% of your statement balance or $50 — whichever amount is greater.
What vehicles qualify for a Yendo credit card?
Yendo approves owners of cars, light-duty trucks, SUVs and vans that are from model year 1996 or later.
How do I get my title back from Yendo?
You can get your title back once your balance is paid in full and you call Yendo to close your account. Yendo then releases the lien and sends the title back to you.
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Yendo Company Information
- Company Name:
- Yendo
- Address:
- 3309 Elm St.
- City:
- Dallas
- State/Province:
- TX
- Postal Code:
- 75226
- Country:
- United States
- Website:
- www.yendo.com