Hi, Product Hunters! I’m Michael, the founder of Perch Credit. I made Perch Credit to remove the barriers to achieving a good credit score, which is necessary to be financially secure. The problem with the current credit worthiness system is that you need to make huge purchases to prove that you can make huge purchases! Yet, although most of us rarely make huge purchases, we are still proving our credit worthiness every month — through rent payments and recurring subscriptions (like Netflix, Spotify, Hulu, etc)! Y’know how when you apply for an entry level position and they require 10 years of experience? Why is credit worthiness the same? If that’s stupid in employment, why is it valid in the credit card application process? And so, with Perch you can build credit with: Rent payments: get credit for up to 24 months of your previous on-time rent payments. And then set up automatic future reporting with Perch to continually improve your score. Subscriptions: if you already pay for services like Netflix, Spotify, Amazon Prime, or subscription boxes, you can be rewarded for demonstrating that you’re financially responsible. Perch launched in the iOS App Store right at the start of 2021 and we already have over 25,000 people on our waitlist. Over time we’ve invited small batches of new users into the app from our waitlist — and have been blown away by the response. One of our biggest fans — and our first check! — is Jay Z, someone who cares deeply about bringing financial literacy to the underbanked and financially underserved community. Bad credit could cost you double. Compared to a credit score of at least 800, a poor credit score under 579 results in an extra $1400 per year of just car insurance. APR rates are higher the lower your credit score is, too. So save your money and start building your credit with Perch! We even made a special invite just for our fellow Product Hunters. 🌐 GetPerch.app 📷 Instagram 📌 Facebook 🗯 Twitter 🗞 Medium

Easy to navigate, simple to use! Definitely a necessary application needed in the fintech space, especially as a college student who is trying to always save money and build up credit.

Having been a part of one of Perch's early cohorts, I can confidently say that this app is a must-have for everyone! I'm a 3rd year at UC Berkeley and after taking a personal finance class out of curiosity, I realized the importance of building credit—and how crucial it is to start doing so early. But after skimming some articles about how to build credit, I still felt like so many of the recommended ways were completely out of reach—until I discovered Perch! Now, the payments for Spotify, Netflix, iCloud storage, and rent on my monthly statements have taken on a new meaning; they're not just transactions cutting down on my finances, but rather opportunities to build a better financial future. Perch definitely lets you see your payments in a new light, and I'm excited to keep using the app!

I worked closely with @michael_broughton_perch and his team on this launch and was super impressed by their talent, responsiveness, enthusiasm and motivation. Perch is addressing a critical hole in the marketplace — helping people prove their creditworthiness by helping them get credit for their recurring small to mid-sized, transactions (Netflix subs, rent, etc). As the market moves towards flexibility and away from the lock-in of the ownership society, Perch is well positioned to help a generation demonstrate their responsibility in a way that makes sense in the 21st century!

This sounds invaluable for college students! I can’t wait to try it out.

Love this idea!! Would love some clarification about how the timeline for building credit would be different than getting a starter card with $300 limit (e.g. from Capital One) and putting Netflix, etc. on it with autopay from your savings/checkings account. I didn't have any credit score or family in the US when I was there as an international student and was able to get one of those and build up credit pretty quickly when I was aware it was something I needed to do (which I wasn't aware of for a long time, to be clear, but that's a lack of education problem). Would be awesome to see some kind of graph/stats about how much more quickly this works.

Great way to democratize credit and to break vicious circles for people who work hard, pay their bills regularly and try to make a good start in life!

That is an intersting idea. Congrate on the launch.

As one that works with college students I am excited to share this product with my students. They love it. Easy to use and so needed in today’s world when credit is the key.

Awesome job guys!

You guys rock! Congrats for your PH launch 🔥

Congrats on the launch! I know our team has been excited about Perch going live and excited to use it ourselves :)

This is a huge problem and glad to see you all tackling it! I'm a proud investor and can't wait to see Perch have the impact in the lives of folks wanting to build their credit.

good job

Hey ?makers does it work in india? When is android app getting released? I would suggest flutter that lets you build app for both android and iOS using a single codebase.(I do that for a living :) )

Terrific idea and team!

Great app! Good luck

I wish I had something like this when I was younger! I'm going to share this with all the young adults in my life.

We are so excited to welcome our new users from the Product Hunt FastPass! It's great to see a growing generation of credit-literate adults on their path to financial freedom and security.

This product is awesome!