The startup offers a credit card application that features no annual fee, low interest rates, and rewards points for every purchase, enabling users to enhance their credit history and financial health. By providing a cost-effective solution for everyday transactions, the platform addresses the need for accessible credit-building tools in the consumer finance market.
Funding
$65.4M 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
Many individuals in Indonesia face challenges accessing credit cards due to stringent requirements and hidden fees, hindering their ability to manage finances and make everyday transactions. Traditional credit cards often come with annual fees, late fees, and other charges that can be burdensome for users.
Solution
Honest Card offers a credit card designed to simplify transactions with a focus on transparency and accessibility. The card features a fully digital application process via a mobile app, providing a decision within one day. It distinguishes itself by charging only one fee—an admin fee applied only when the card is used—while eliminating annual fees, late fees, and other common charges. The Honest app also allows users to securely access their card number and manage repayments flexibly.
Target Audience
The primary target audience includes Indonesian citizens aged 21-65 with a minimum monthly income of Rp 3 million, seeking a transparent and accessible credit solution for daily transactions.
Features
- Fully digital application process via the Honest mobile app, requiring only a KTP (identity card)
- Credit limits up to Rp 100 million
- No annual fees, late fees, foreign transaction fees, or overlimit fees
- Flexible repayment options managed through the app
- "Numberless" card design for enhanced security, with card details accessible only within the app
- Card lock/unlock functionality available within the mobile app
- Accepted at over 90 million Mastercard merchants worldwide