Sakura Credit, Get a Free $250 Reloadable Visa Card
Sakura is a one year old company aiming to provide credit to small business owners and entrepreneurs. They are currently giving out a bonus of $250 to those who sign up for an account. The reasoning behind the bonus is that they will offer a line of credit beginning in the fall and in the meantime they want to get a version of their cards in the hands of business owners. They also provided to me a short explanation of their plans and this offer.
Update 10/14/2019: Website now shows the following message.
We’re sorry, but at this time we are no longer accepting new applications for the Sakura Reloadable Visa card!
If you have already applied, we will process your application shortly.
The $250 bonus comes in two parts:
- If you’re an aspiring or existing business owner, we will send you a $200 pre-loaded Visa card after you’ve successfully signed up for a free Sakura account. You’ll also have the option to add money to your Visa card at any time!
- Once you’ve signed up for your Visa card, let us know how the process was by taking a brief survey. We’ll load an additional $50 on your debit card once you’re finished!
In order to create a Sakura account and receive your reloadable card, have your social security number available and copy of your ID readily accessible during the application process. You’ll also need basic information about yourself and your business. This is info that you would usually need to give out to financial institutions every time you open an account. It should take you no more than 10 minutes to complete the application and you’ll receive your card within 1-2 weeks! Sakura Commercial Cards are issued by Sutton Bank, Member FDIC. Looks like it’s available nationwide.
This reloadable Visa card is pre-loaded with $200 and can be used online or in store for your day to day business expenses. If you want to, you can add more money to your card at any time. You will not be able to overdraft this account.
You can see the offer on their website here.
I don’t have any more information about this company besides what’s on their site or publicly available elsewhere. A data points from SlickDeals says that it is a soft pull and they did receive the $200 card within a week. Let me know if you have tried this out, or if you take advantage of the offer.
Looks like free money, but it also sounds a bit too good to be true, so I reached out to the company for comment. Here’s what they said about the offer and their plans:
At this time, the Sakura Prepaid Visa card comes with $200 preloaded onto the card, but is only available to current business owners, or people who attest and have a genuine intent and to start their own business. People who are approved for the card have the opportunity to spend the funds on the card on legitimate business purchases, and then link a bank account to reload the card should they so chose.
In the coming months, we will start offering a line of credit for new and aspiring business owners. We see the $200 as a promotional amount for what we hope is a long-term relationship between the small business and ourselves (also a small business!)