"It also offers similar perks and benefits to other premium travel cards, such as the Citi Strata Elite, the Chase Sapphire Reserve, or the American Express Platinum Card. Those include access to exclusive events, a Priority Pass Select membership that provides access to airport lounges, travel and auto insurance benefits, and the ability to earn points redeemable for flights or hotels."
""It's designed for known residents who have U.S. assets," says Freddy Juez, the founder and CEO of Karta. Juez says that the offering is taking aim at a problem that many nonresidents in the U.S. have: They have a lot of money in the bank, but may lack a Social Security number or tax identification credentials. That means they can't, or have a lot of trouble, getting a credit card,"
Karta launched a premium credit card targeting American nonresidents who hold U.S. bank or brokerage accounts with at least $150,000 and no Social Security number required. The card provides travel benefits similar to other premium offerings, including Priority Pass Select lounge access, travel and auto insurance, exclusive events, and points redeemable for flights or hotels. The annual fee is $300, positioned below many competitors. Karta raised $5.4 million in seed funding from investors including Canary, Clocktower Ventures, and FJ Labs and is partnering with nearly two dozen U.S. financial institutions. The product addresses high-net-worth nonresidents who face difficulty obtaining U.S. credit cards and may otherwise use foreign cards with high international swipe fees and interest rates.
Read at Fast Company
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