FAQS

What is a CryptoCredit account?

A CryptoCredit account is the fusion of a secured consumer installment loan and a digital asset savings account. During the life of your CryptoCredit account you build both credit history and digital assets savings.

How exactly does a CryptoCredit account work?

When you open a CryptoCredit account:

Royshan Asset Management gives you an installment digital asset loan and places the borrowed digital assets in a savings account in your name
You do not receive the digital assets on day one, they are instantly deposited into the digital asset savings account.
A lock is placed on the assets in the digital asset savings account to secure the loan
Each month you make a single, fixed monthly payment of principal and interest on the loan
The principal portion of your loan payment is credited towards the lock on your digital assets savings account and the interest portion of your payment is how we cover the costs of providing the service to you

During the term of your account we report your loan payment history to all three major credit bureaus and you earn interest on your digital asset savings account balance
When the loan is paid in-full, the lock is removed from the savings account and the funds become available to you
You end up with payment history for an installment loan on your credit report, which accounts for 35% of your FICO credit score, and the money you’ve saved up in your savings account.

What is the total cost of my CryptoCredit account?

The total cost of a CryptoCredit account can be found on our Pricing page.

After I open my CryptoCredit account, what should I expect?

First, thank you for trusting CryptoCredit to help you build strong credit and savings. Here’s what you should expect:

You will receive your current FICO credit score in the CryptoCredit credit dashboard within 2 weeks of opening your account. You will see the date of your next score refresh in the dashboard.
Your first monthly loan payment will be due one month after you open your account. When possible , accounts are set up on auto-pay when opened. You can manually turn off auto-pay by going to My Account/Payments tab. We recommend that you set up auto pay so your payments are made on time.
Typically your CryptoCredit account will appear on your credit report 30-60 days after you make your first payment.
Note: We provide your payment information to the three major credit bureaus, but it can take them some time before they process the information and add the account to your credit report. Unfortunately, each credit bureau decides when your payment information is processed and reported on your credit report and we are unable to expedite this process for you.
Remember the most important part of your credit building journey is to pay on time. Payment history makes up 35% of your FICO score so it is important to avoid any late payments on your Credit Strong account loan or it may harm your credit score.

What happens at the end of my CryptoCredit account?

When you have paid your loan off in-full, you will receive a notice that your loan has been paid off and the lock related to the loan is removed from your savings account. You can claim ownership of your digital asset in your unlocked Crypto Credit account or request a transfer of the funds.

Can I pay back my CryptoCredit account early?

Yes. There is no prepayment or early withdrawal penalty for paying down, or paying off, your CryptoCredit account loan early.

You should be aware that payment history is the most important factor for your FICO credit score and by paying off your loan early you will reduce the number of payments reported to the credit bureaus, potentially reducing the positive impact of the CryptoCredit account loan on your credit score.

Is CryptoCredit legit? How do I know this isn’t a scam?

CryptoCredit is a syndicate of private lenders. Royshan Asset Management is a business consulting firm who manages virtual assets located in Miami, FL. Royshan Asset Management is subject to rigorous federal and state oversight and examinations on a regular basis by the SEC, FINCEN and Florida Department of Business and Professional Regulations

Can I have multiple Credit Strong accounts at the same time?

Yes, you may have up to two active CryptoCredit accounts at one time. You’ll need to have made your first payment and paid the administration fee for your initial credit builder loan in order to create a second account. If you previously had a CryptoCredit account that is now closed, you can still open a second account.

**Can I make withdrawals from my CryptoCredit account?

During the term of your loan a lock is placed on your digital assets savings account to secure the loan and the assets are not available for withdrawal. At maturity of the loan, or when the loan is paid off, the lock is removed and your digital asset is available to you.

Can two people co-own or co-sign on the same CryptoCredit account?

No. The installment loan and deposit account that combine to create your CryptoCredit account are individual personal accounts. You may not have a co-signer or co-owner of either account. Additionally, you may not transfer ownership of either account while your CryptoCredit account is active.

Applying for a CryptoCredit account

How long will it take to apply for and open my CryptoCredit account?

You should be able to complete the application process and open your account in less than 5 minutes.

If for some reason you aren’t able to complete opening your account, you can always pick up where you left off in the application process later by simply coming back to and logging in. You will automatically be taken to the step in the process where you previously left off and can complete your application. *

Is CryptoCredit available in my state?

CryptoCredit accounts are available in most states in the United States, with the exception of Vermont and Wisconsin.

If I apply and I am denied, will it hurt my credit score?

No. We do not perform a credit check so applying and being denied for a CryptoCredit account will not harm your credit score.

What happens if I didn’t get your verification code?

Please make sure your device is set up to receive SMS alerts. If you receive a failure message or do not receive any message, there may be an issue with your cell phone carrier. We recommend you contact your cell phone carrier and follow the troubleshooting steps below:

Contact your cell phone provider and ask to speak to a support agent
Identify yourself using your account information
Inform the representative that short code messages are blocked from your device and you would like to allow this action.
Please allow at least 5-10 additional minutes for your device to recognize the change. Restarting your device is recommended
Try resending another code. Your code should be delivered to your mobile device shortly.
If this does not work, please contact CryptoCredit via online chat, email [email protected]

I started my CryptoCredit application but didn’t finish opening my account. How long do I have to finish the account opening process?

If you started the account opening process, but didn’t complete it, you have 30 days to complete the process from the day you started. You may pick up where you left off by simply logging in at TBD

Why do you require my Social Security Number (SSN) or Individual Tax Identification Number (ITIN)?

We require your SSN/TIN so we can:

Provide your credit score to you.
Report your payment history to the three major credit bureaus.
Pay you interest on your CryptoCredit savings account.

I’m having trouble creating my password. What are the password requirements?

Password must be at least 8 characters long and include:

at least one number,
upper and lower case letters,
at least one special symbol (e.g. #@$!),
cannot include spaces
cannot be the same as your username (email address)

Eligibility

What is required to open a CryptoCredit account?

The following requirements are needed to open a CryptoCredit account

You must be at least 18 years old and a permanent U.S. resident with a physical U.S. residence (address)
A valid social security number (SSN) or individual taxpayer identification number (ITIN)
A checking account, debit card, or prepaid card in good standing
A mobile phone number, Google Voice account
An email address

How do you determine if I’m eligible for a CryptoCredit account?

As long as we can properly identify and you, you are eligible for a CryptoCredit account. We do not use any type of consumer report or credit report to determine eligibility (meaning – we don’t pull your credit).

What is the minimum income required to open a CryptoCredit account?

There is no income requirement to open a CryptoCredit account.

Will I be denied if I have no credit score or a low credit score on my consumer credit report?

No. Account approval is not based on credit scores provided by any of the three major credit bureaus (Experian, Equifax, or TransUnion).

You may be denied if we cannot adequately verify your identity, your administrative fee fails, or your past banking behavior does not meet our product underwriting guidelines.

Why was I denied for a CryptoCredit account?

If you apply for a CryptoCredit account and are denied, you will receive an ‘Adverse Action Notice’ describing the reason(s) why your application was denied. If you believe there is an error that caused you to be denied, contact information is included in the Adverse Action Notice for you to resolve the error.

Can I reapply if I was denied for a CryptoCredit account?

Depending on the reason for denial, this answer may vary. For more information, please feel free to contact us at

If I was denied, how long do I need to wait before I can reapply for a CryptoCredit account?

Before you reapply, we highly recommend that you review your Adverse Action Notice and resolve the reason you were denied before reapplying.

If you were denied for a CryptoCredit account you can reapply after 30 days if we get that information in the report.

Credit Score and Reporting

What credit score do you provide?

We are proud to provide you with your FICO 8 credit score from TransUnion. FICO is the credit model used by 90% of lenders to make consumer credit decisions.

Do you perform a ‘hard’ inquiry or pull on my credit report?

No. There is no credit check when you apply for a CryptoCredit account.

Do you report to all three major credit bureaus?

Yes. We report your payment history directly to the three major credit bureaus; Experian, Equifax, and TransUnion.

Your CryptoCredit account installment loan will be listed under “ROYSHAN ASSET MANAGEMENT on your credit report.

How long does it take for my credit builder loan to appear on my credit report?

Typically your CryptoCredit account will appear on your credit report 30-60 days after you make your first payment.

We provide your payment information to the three major credit bureaus, but it can take them some time before they process the information and add the account to your credit report. Unfortunately, each credit bureau decides when your payment information is processed and reported on your credit report and we are unable to expedite this process for you.

Your CryptoCredit account installment loan will be listed under “ROYSHAN ASSET MANAGEMENT” on your credit report.

How much will a CryptoCredit account increase my score?

Unfortunately, we aren’t able to give you an estimate of how much a CryptoCredit account will increase your score, because everyone’s credit profile is unique.

Please be advised that even if you’re paying your CryptoCredit account on-time, any negative activity from other accounts, such as late payments, delinquencies, bankruptcies or public records will likely negatively impact your credit score.

Why did my score dip after getting a CryptoCredit account?

Occasionally, adding a new line of credit to your credit profile will cause a slight temporary dip in your credit score because it may reduce the overall age of your credit history. In this case, it’s typical for your credit score to quickly rebound and increase with on-time payment history for the CryptoCredit account loan.

I don’t have a credit score on the CryptoCredit dashboard, what’s wrong?

We pull your FICO 8 credit score monthly. When you first open your CryptoCredit account you may not see a credit score for up to two weeks.

If you do not see a credit score in your CryptoCredit dashboard after two weeks, it means you most likely do not have a sufficient credit profile or payment history to generate a FICO 8 credit score. Payment history is the most important component of your credit score. It typically takes about 2-3 months of reported payment history for a consumer to establish a credit score, although in some instances it may take up to 6 months.

If you do not see your FICO 8 score in your CryptoCredit dashboard after 6 months please contact us.

How do I dispute a posting on my credit report?

To dispute a posting on your credit report you can dispute by mail or online. To dispute by mail, send the financial institution a copy of your credit report, copy of identification, a letter stating what you are disputing, and a copy of bank statements or other supporting documents. To dispute an item online, click on the reporting agency you would like to dispute with and fill out the application in its entirety.

Equifax: https://www.equifax.com/personal/credit-report-services/credit-dispute/

Experian: https://www.experian.com/disputes/main.html

TransUnion: https://www.transunion.com/credit-disputes/dispute-your-credit

What do I do if my identity was stolen?

If your identity was stolen you will need to complete an Federal Trade Commission Affidavit on FTC.gov and file a police report. You will need to send both of those documents, along with a copy of your identification and a letter stating your identity was stolen to either the financial institution by mail or the credit reporting agency using the below link.

https://www2.myfico.com/ccc/correctionoverview/transunion-experian-equifaxdispute.aspx

Payments

When do I make my first payment?

Your first CryptoCredit account loan payment will be due one month from the date you opened your account.

To view your payment due date:

Login to Credit Strong
Look at Account Overview Tile on your home page

Login to CryptoCredit
Select the “Accounts” page and view due date

How do I make a manual one-time payment?

To make a one-time manual payment:

Login to CryptoCredit
Select “Make a Payment” on the account overview tile on the homepage
Select intended payment amount

Login to CryptoCredit
Select “Make a Payment” page from main navigation
Select intended payment amount

Please note that when you pay with a debit card or prepaid card you will incur a convenience fee. To avoid the convenience fee, please link a bank account in your payment settings.

How do I manage my auto-pay settings?

We recommend using auto-pay for your CryptoCredit account loan payments so that you never miss a payment.

With our auto-pay feature payments will be withdrawn from your bank account, debit card, or prepaid card automatically on a set date each month.

To set up automatic payments:

Login to CryptoCredit
Navigate to “Accounts” page from main navigation or select “Account Details” on account overview tile on the homepage
Select “Update AutoPay Settings”
Set auto pay to “On”

Please note that when you pay with a debit card or prepaid card you will incur a convenience fee. To avoid the convenience fee, please link a bank account in your payment settings.

How do I manage my auto-pay settings?

We recommend using auto-pay for your CryptoCredit account loan payments so that you never miss a payment.

With our auto-pay feature payments will be withdrawn from your bank account, debit card, or prepaid card automatically on a set date each month.

To set up automatic payments:

Login to CryptoCredit
Navigate to “Accounts” page from main navigation or select “Account Details” on account overview tile on the homepage
Select “Update AutoPay Settings”
Set auto pay to “On”

Please note that when you pay with a debit card or prepaid card you will incur a convenience fee. To avoid the convenience fee, please link a bank account in your payment settings.

How do I change my payment type from bank account to debit/prepaid card or vice versa?

To change the source for your payment:

Login to CryptoCredit
Navigate to “My Profile” page from main navigation
Select “Payment Methods”
Enter new information to change source of payment

Can I make my payment for next month or future months?

No. You are only able to pay the amount due for the current month. Any overpayments that you make will be applied to the principal of your CryptoCredit account loan and reduce the term of the loan.

Please note that while there is no prepayment or early withdrawal penalty for paying down or paying off your CryptoCredit account loan early, additional payments may reduce the number of payments reported to the credit bureaus, potentially reducing the positive impact on your credit profile.

What should I do if I don’t think I can make my monthly payment?

If you have opened a CryptoCredit account and you believe you will be unable to make consistent monthly payments on-time, we recommend you close your account and try again when your financial circumstances improve.

You may terminate your CryptoCredit account at any time with no prepayment or early termination fee. Please note that any payments received more than 30 days late will be reported as ‘late’ to the credit bureaus.

Will I be charged a fee if my payment is late?

Your payment is due on the payment due date. We provide a 14-day grace period from your payment due date. If you make your full payment before 7:00 p.m. Central Time on the 14th day of the grace period and the payment is not returned), you will not be charged a late fee.
If a loan payment is 15 or more days past due , you will be charged a late fee.

If a loan payment is more than 30 days late, you will be reported as “late” to the credit bureaus and it may negatively impact your credit score.

What does it mean if my payment was returned due to a "non-payment account" or "non-transactional account" error?

If you attempted to make your CryptoCredit account loan payment from a Savings or Money Market bank account, your bank may have rejected the payment. Savings and Money Market accounts are considered non-transaction accounts under federal regulation and allow only limited withdrawals.

If you are uncertain as to why your payment was returned, you will need to follow-up with your bank to obtain an explanation as to why they rejected the payment.

We recommend you use your checking account or a debit card to make CryptoCredit account loan payments. Checking accounts are considered ‘transaction accounts’ under federal regulation.
Please note that you will be charged a fee for returned or failed payments.

What type of payment methods does CryptoCredit accept?

We recommend you use your checking account or a debit card to make CryptoCredit loan payments. We also accept select prepaid cards such as Visa and Green Dot Bank.

We do not accept payments from savings accounts or American Express.
Please note that when you pay with a debit card or prepaid card you will incur a convenience fee. To avoid the convenience fee, please link a bank account in your payment settings.

Please note that you will be charged a fee for returned or failed payments.

My Account Information

How do I reset my password?

To reset your password:

Visit TBD
Enter the email address listed in your CryptoCredit profile
You will then receive an email notifying you of reset request that includes a green button
Click on the green reset button
Once you get to the new screen, enter a new password that follows the “must haves”.
Confirm your new password
Select “Confirm”
Your password has now been reset

If you are unable to reset your password or you don’t receive a password reset email, then please call us at TBD during normal business hours Monday through Friday 8 am to 5 pm Central.

How do I check my account balance and information?

You can review your account information, balances, loan schedule, check your FICO credit score, and download account documents on your CryptoCredit dashboard at TBD

Is my account FDIC insured?

No.

Can I cancel or close my account early?

You may cancel or close your CryptoCredit account at any time with no prepayment or early termination fee. Please note that any payments received more than 30 days late will be reported as ‘late’ to the credit bureaus.

When canceling or closing your account you should be aware that payment history is the most important factor for your FICO credit score and by closing your account early you will reduce the number of payments reported to the credit bureaus, potentially reducing the positive impact of the CryptoCredit account loan on your credit score.

Is there a fee for canceling or closing my account early?

No. You may close your CryptoCredit account at any time with no prepayment or early termination fee.

How do I close my CryptoCredit account?

If you have a question about your CryptoCredit account or application, please contact our customer support team atTBD Monday – Friday 8 am to 5 pm Central, or you may use Live Chat on our website to reach them at

Chat messages and voicemails delivered outside these hours will receive a response on the next business day.

Can I temporarily suspend my CryptoCredit account?

No. You cannot suspend or temporarily make your account inactive. If an unplanned event, for example a job loss or medical emergency, makes you unable to make your monthly payments on time please contact us as soon as possible to discuss your specific circumstances.

You may terminate your CryptoCredit account at any time with no prepayment or early termination fee. Please note that any payments more than 30 days late will be reported as ‘late’ to the credit bureaus.

Can I update my beneficiary information on my CryptoCredit account?

Right now you can input the beneficiary information only during the application process. You can call CryptoCredit customer support at TBD or contact us via online chat for further information.

How do you protect my privacy and security?

CryptoCredit is a division BPDC TRUST, a FDIC insured bank. As a United States based insured depository institution, Royshan Asset Management is held to the strictest standards and protocols for protecting your personal, financial, and credit information and money.

All CryptoCredit products are built on Trident technology platform.

Trident technology allows Royshan Asset Management securely offer financial services via the internet with bank grade security for all your personal, credit, and financial information.

The Trident Technology Platform encrypts sensitive personal and financial information at multiple levels in its databases and application as well as using a HTTPS/SSL 256 bit encryption layer with your web browser to protect your information while in transit between your web browser and the Trident Technology Platform.
In addition to the security protocols and technology described above, Royshan Asset Management and the Trident Technology Platform are subject to regular IT audits and penetration testing by both Federal and State Agencies as well as expert third-party information security firms.

All employees of Royshan Asset Management are subject to criminal background and credit checks before they are eligible to join operations.

Contacting CryptoCredit

How do I contact CryptoCredit ?

TBD

Chat messages and emails delivered outside these hours will receive a response on the next business day.

I want to partner with CryptoCredit -Austin Capital Bank. Who do I contact?

We love customer feedback and suggestions! We are constantly improving our products and service. If you have an idea on how we can improve service or a new product or feature we should offer, please contact us at:

Submit a secure message via online chat at CryptoCredit .com
Submit a secure message via secure message form at CryptoCredit .com/contact-us

I think I found a bug or error in the software, what should I do?

Please contact us immediately with a description of the bug or error by:

Submitting a secure message via online chat at CryptoCredit .com ; or
Submitting a secure message via secure message form at CryptoCredit .com/contact-us

While we strive to offer a bug free platform and have a rigorous quality assurance and testing program for all software and upgrades before they become publicly available, we’re human and sometimes mistakes can slip by us. We appreciate you bringing any bugs/errors to our attention.

How can I file a complaint?

If you have a concern about a product, service, or your account, please contact us:

To file a formal complaint against our parent company, Royshan Asset Management you may follow the process below:

Consumer Complaint Notice

HOW TO FILE A COMPLAINT

Royshan Asset Management is chartered under the laws of the State of Florida and by state law is subject to regulatory oversight by the (SEC) Security Exchange Commission. Any consumer wishing to file a complaint against Royshan Asset Management should contact the Florida Department of Business and Professional Regulations through one of the means indicated below:

Our Customer Contact Center (CCC) can be reached at 850.487.1395.
The CCC hours of operations are Monday-Friday, 8 a.m. – 5:00 p.m., Eastern Time. For a quicker response from a DBPR representative, the best times during the day to call are between the hours of 8 a.m. to 10 a.m. Eastern Time or 3:30 p.m. to 5:00 p.m. Eastern Time.

Fax
Please visit the division and office page for a direct fax number.

Unlicensed Activity
DBPR provides a toll-free number for unlicensed activity complaints at 1.866.532.1440.

Online Services
Businesses and consumers can search for information on a licensee, apply for a license or file a complaint at our Online Services.

Mailing Address
Department of Business and Professional Regulation
2601 Blair Stone Road
Tallahassee, FL 32399-1027

Electronic submission via the Department’s website:
MyFloridaLicense.com – License efficiently. Regulate fairly. l*

*Please be advised that by clicking the link above you will leave Credit Strong’s website. The link is provided only as a courtesy. Credit Strong does not endorse or control the content of third-party websites.