Content creators on social media platforms YouTube, Instagram and Twitch now have a credit card targeted just for them; the Karat Black Card will give creators a credit card they can use for expenses as well as a $250 bonus to spend on future purchases of electronics or equipment; Karat is using non-traditional underwriting, looking at follower count, revenue generated and “business savvy” rather than a credit score; they have already been in beta with a number of content creators and the model is working so far with no defaults; the card is aimed at professional content creators with at least 100,000 followers and the company estimates the target market to be at least one million creators. TechCrunch.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.