According to AAA,more than 20 million travelers criss-crossed the friendly skies and roads on Thanksgiving weekend. However for international travelers the numbers were likely twice as high. Impacted by inflation costs, the rise of the digital nomad, and the ability to work from anywhere, many people are pursuing new residences altogether.MoveHub reports that over 90,000 people have relocated to a different country of origin in the past year and that trend isn’t expected to slow anytime in the near future. However,when relocating and navigating the complexities of financial laws in other countries, many haven’t considered the differences in factors like credit systems or banking regulations.
A new company in the fintech space is aiming to fill the gap. Black Opal, a credit card designed with expats in mind, was developed by a Colorado based entrepreneur, Matt Holden. The Australian born expat created the card to help local entrepreneurs,founders of startups, and newly relocated individuals who are looking to break into the credit industry. The card has already gained a massive following and secured close to $100 million in series funding as it teams up with financial exchange providers. The card has features like high initial credit limits, Zelle pay, and travel miles upon registration and approval. They also don’t require a credit check, which has been a draw to many expats with no traditional credit profile. The Black Opal card is currently on a waiting list for accepting new applicants and offers free sign-up notifications here.
