With no interest charges or late fees, the Ambition Mastercard® by College Ave provides a safe and easy way for students to build a positive credit history
(Wilmington, DE) January 30, 2024 — College Ave, a leading financial services company with a passion for helping students embark on a bright future, today announced the launch of the Ambition Mastercard®, a secured credit card for college students. Starting today, students 18 years of age and older can apply for the Ambition Card, a card designed to help them build and establish a positive credit history that will help pave the way for successful financial habits in adulthood.
The majority of college students know having a good credit score is important (77%); however, only half know how to improve their credit score (54%), according to a recent College Ave survey of 1,083 college students. With no credit check to qualify, no interest, no late fees, and the benefit of cash back rewards, the Ambition Card makes it simple and safe to build a positive credit history.
With this secured credit card, students transfer money to the card from their existing checking or savings account, which establishes the credit limit. Students can then use the card for everyday purchases and earn cash back. Unlike a debit card, with the Ambition card, students can work toward a positive credit history as on-time payments are reported to all three major credit bureaus.
“When a student heads off to college, they are not just earning a college degree. They’re taking those first steps toward adulthood, including becoming more financially independent,” said Joe DePaulo, Co-Founder and CEO of College Ave. “We are excited to launch the Ambition card and give these students a head start in building a positive credit history. We know credit scores can impact short term needs like leasing an apartment while contributing to longer term goals like buying a home. Our goal with the Ambition card is to give students a smart and safe tool so they can put their best financial foot forward.”
The Ambition Card by College Ave is available to students 18 years of age and up. There is no credit check to qualify, no fees to apply, no late fees, no interest charges, and no monthly fees for the first six months. After the first six months, $2 will be charged to the student’s account each month.
To learn more about how your student can build their credit safely and easily, visit: www.ambitioncard.com.
About College Ave
College Ave started with a big vision and a simple mission – take the stress out of paying for college so students can focus on preparing for a bright future. Now a leading financial services company, College Ave remains committed to using best-in-class technology and deep industry expertise to deliver practical and personal solutions that give young adults a running start on their roads to financial success. We offer best-in-class products with competitive rates and a customer-friendly experience from start to finish. Visit: collegeave.com.
About the Survey
The College Ave survey was conducted by Barnes & Noble College Insights™. The national online survey of undergraduate students who attend a 4-year college or university at one of the campuses served by Barnes & Noble College had 1,083 respondents and was fielded in March 2023. Last year, Barnes & Noble College Insights conducted more than 50 research studies and 100+ survey polls of students, faculty and parents that interact with one of its more than 770+ campus bookstores across the nation.
College Ave is not a bank. Banking services provided by, and the College Ave Mastercard Charge Card is issued by Evolve Bank & Trust, Member FDIC pursuant to a license from Mastercard International Incorporated. Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by College Ave.
The Ambition Card is designed to help you build your credit history; however, a variety of factors impact your credit including payment history, utilization, derogatory marks, account age, total number of accounts, and inquiries – not all factors are equally weighted.
Media Contacts:
Katie Jacobs, College Ave Student Loans, [email protected]
Emily Hollenbeck, Duffy & Shanley, Inc., [email protected], (401) 278-4432