Better Home & Finance Company (NASDAQ: BETR) has debuted the Better Home Equity Card, a prepaid debit card that enables homeowners to access funds drawn from their Better Home Equity Line of Credit (HELOC).
The card, which is built on Stripe’s financial infrastructure, enables users to tap into approved funds in a dedicated financial account. Cardholders can earn 1% cashback on eligible purchases, and the card includes a rewards feature tied to home equity spending that traditional HELOCs typically lack.
All approved Better HELOC customers will be offered the Better Home Equity card as a disbursement method beginning this summer.
“Homeowners are sitting on $21.4 trillion in equity and reaching for a credit card to pay for a kitchen renovation or backyard upgrade because the tools to access their equity haven’t evolved,” said Vishal Garg, CEO and Founder of Better. “Banks have known for years that homeowners were overpaying for credit cards when they had equity sitting right there. We’ve built the Better Home Equity Card to repair it.”
How does someone apply for this Better Home Equity Card?