When customers add personal credit building, they are required to agree to a personal guarantee.
A personal guarantee means the customer is personally responsible for any debts associated with their Nav Prime Card. This means that any negative activity on the card can negatively impact their personal credit standing.
When using their card for business credit building only, there is no personal guarantee.
Nav Technologies, Inc. is a financial technology company and not a bank. Banking services provided by Thread Bank, Member FDIC. The Nav Visa® Business Debit Card and the Nav Prime Charge Card are issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted. See Cardholder Terms for additional details. All other features of the Nav Prime membership are not associated with Thread Bank.
With regard to credit building features: scores are calculated from many variables; some users may not see improved scores. The Nav Prime Charge Card is a business financing product and may not be used for personal, family or household transactions.