Fasten offers a driver-centric Visa credit card designed to convert everyday automotive expenses into redeemable rewards points. Cardholders earn accelerated points on eligible driving expenditures, including car loan or lease payments, gas, and maintenance services. This platform allows users to maximize the value of their vehicle-related spending without altering their existing financing arrangements.
Funding
$4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Consumers typically do not earn rewards on car loan or lease payments, missing out on potential benefits for a significant monthly expense. Traditional credit card rewards programs often overlook this category, leaving a gap in earning opportunities for vehicle owners.
Solution
Fasten Rewards offers a Visa credit card that allows users to earn points on car loan and lease payments, as well as everyday purchases. By connecting their bank accounts through Plaid, users can seamlessly integrate their existing payment methods and automatically earn rewards. The card provides tiered rewards, including 3x points on gas, tolls, dealership services, parking, and EV charging; 2x points on car loan or lease payments and insurance; and 1x points on all other purchases. Points can be redeemed for travel, dining, and other perks, effectively turning monthly car payments into valuable rewards.
Target Audience
The primary target audience is consumers with car loans or leases who are looking to earn rewards on their monthly payments and everyday purchases. Dealerships are also a target audience, as the card increases customer loyalty and boosts revenue.
Features
- Visa credit card that rewards users for car loan and lease payments
- Integration with Plaid for secure bank account connectivity
- 3x points on gas, tolls, dealership services, parking, and EV charging
- 2x points on car loan or lease payments and insurance
- 1x points on all other purchases
- Mobile app for tracking points balance and earning progress
- Points redeemable for travel, dining, and other rewards