Possible Card Program Closure

What's happening to the Possible Card program?

The Possible Card was part of a limited beta test, and after evaluating the results, we've decided not to move forward with the program. As part of the wind down, we'll be restricting new spending on cards after April 20th. Your payment schedule will remain the same, and once your balance is paid off, your card account will automatically close.

This wasn't an easy decision, and we're committed to making this transition as clear and straightforward as possible for you.

When will my card stop working for purchases?

Your card will stop working for new purchases on April 20. After that date, you can still log into the app to view your balance and make payments.

If you're enrolled in Pay Over Time, your card is already restricted—you won't be able to make new purchases, but you can still log into the app to make payments toward your balance.

What do I need to do?

The regular credit reporting terms still apply so make sure you're still making on-time payments to pay off your balance.

If you have autopay set up, you'll continue to be debited until your balance is paid off, at which point your card account will be closed. If you're not on autopay and want to enroll, learn how to set up autopay on your account.

If you're on manual pay, you'll need to go into the app to initiate payments.

If you're a part of Card Program A and want more time to pay off your balance, you can enroll in the Pay Over Time plan (learn more about how it works and how to enroll in the app here).

If you're already enrolled in Pay Over Time, your current plan stays in place. Just keep making your scheduled payments.

One thing to note: if no payments are made within 90 days of enrolling, you may be unenrolled from your Pay Over Time plan.

Learn more about card repayments here.

Will I still be charged the monthly membership fee after spending is restricted?

No. Starting April 20, we're waiving the monthly membership fee while you pay down your balance.

When will my card account close?

Spending will be restricted beginning on April 20th. Once you've paid off your card balance, your card account will automatically close.

How will closing my Possible Card affect my credit?

Your credit score is based on many factors, so we cannot predict how closing your Possible Card will impact you individually. What we do know is that part of your credit score is based on the length of time your accounts are open, so closing a credit account may have some impact, though the extent will vary based on your specific credit situation.

Paying your balance on time will not negatively impact your credit. Any past-due balance, however, will be reported to credit bureaus just like any other credit card. To protect your credit standing, stay current on your payments.

If you're on Card Program A, enrolling in a Pay Over Time (POT) plan can help protect your credit during the wind down. When you enroll, your payment aging freezes, meaning your delinquency won't "age" or increase while the plan is active. If your account is current, it gives you more time to pay without becoming delinquent. If your account is already delinquent, it can minimize further damage. For example, if you were 45 days delinquent when you enrolled, you'd stay at 45 days until you catch up, even if it takes several payments to get current. Note that if you exit POT before paying off your balance, your delinquency will resume aging from where it was when you enrolled.

For more details on how Pay Over Time works, visit this support article.

Once I pay off my balance, what happens to my account?

Once your balance is fully paid off, your card will be closed automatically. You don't need to take any additional action.

What should I do with my Possible card once it's no longer active?

You should be sure to dispose of your expired card to help protect against someone using it to commit financial fraud against you. We recommend cutting up the card and discarding the pieces of the card in separate trash bags or shredding your card in a shredder.

Can I use other Possible products?

If your balance is paid in full, you may still be eligible to apply for a Possible Loan or cash advance, provided products are available where you live. Please allow up to 5 business days after your balance is paid off for your account to be fully updated before applying. Learn more about product eligibility by state.

If your account has a past-due balance, you won't be able to access other Possible products until that balance is resolved.

General Card Information

The Possible Card Programs

Please note: The Possible Card program is ending. New spending will be restricted after April 20th. For more information, see Card Program Closure.

The Possible Card has no interest and the only fee is a flat monthly fee ($8 or $16, depending on credit limit). The monthly fee is charged each month on the 1st, regardless of account activity. Credit limits start at $400.

Card Program A

Card program A is for anyone who joined before July 30th, 2024. This is a full balance payment plan. This means a full balance is due on a bi-weekly basis for most members. We work to try and align your payments with your payroll as long as it is regular and consistent. You can learn more about card repayments in this help center article.

If you are in card program A, you will have certain features available to you such as:

• Pay Over Time (POT) plan
• Payroll Alignment

Card Program B

Card program B is for anyone who joined on, or after, July 29th, 2024. This is a program with two payment options; minimum payments due each statement period or full statement balance due each statement period. You can change your selection at any time in the app by tapping Autopay Settings from the card dashboard. No matter which payment option you choose, there is no interest on the Possible Card. You can learn more about payment options in this help center article. 

Both Programs

Both programs offer:

• Autopay to make payments more convenient and worry free
• Ability to make additional payments at any time
• Ability to reschedule a due date when life happens
• Please note we cannot change members from one card program to another.

I Want To Freeze My Possible Card

While the Possible Card program is ending, your card will continue to work for purchases until April 20th. If you are worried that your Possible card is lost and you need to freeze your card, here's how.

To put an immediate freeze on your account, please reach out to us by using the Contact Us form in the app or calling us at the number on the back of your Possible card.

Please note that if you believe your Possible Card was stolen or otherwise compromised, you should contact us as soon as Possible to freeze the card. We will work with you to review recent transactions that were made on the account, and can assist in answering and resolving fraud concerns.

Common Card Inquiries

Why is There a Monthly Fee Associated with the Possible Card?

Possible is a credit card provider that offers its members a transparent and affordable product. The card operates through a monthly fee, which grants members access to their credit card and allows Possible to keep the card program running without charging interest. This approach ensures that card members know exactly what fees are due each month, providing them with a clear understanding of their financial obligations.

Unlike traditional credit cards, Possible does not charge interest, which can often be a source of confusion and unpredictability. By using a monthly fee, Possible can provide an affordable product that is low cost for everyone involved, while also ensuring that its members have access to a valuable financial tool that can help them achieve their goals.

Why is My Possible Card Locked?

As part of the Possible Card program wind down, we've restricted new spending on cards after April 20th. Your payment schedule will remain the same, and once your balance is paid off, your card account will automatically close.

I Want to Close my Possible Card

As part of the Possible Card program ending, all card accounts will automatically close once your balance is paid off. To avoid any impact to your credit, make sure you continue to make on-time payments until your balance is fully paid. 

My Possible Card is Damaged, Lost, or Stolen

Damaged Cards

If your card is damaged, please note that as the Possible Card program is ending, we are no longer issuing replacement cards. However, you can still make payments toward your balance through the app. If you need assistance, contact us using the Contact Us form in the app or by calling the number on the back of your card.

Lost or Stolen Cards

If your card was lost or stolen, we can immediately freeze the card so nobody is able to use it. We'll review recent card purchases with you to identify any fraudulent transactions. You can report your card as lost or stolen using the Contact Us form in the app.

Statement Information

What is a Card Statement?

A card statement shows how the card has been used over a period of time known as a statement cycle. Possible card statement cycles start on the 15th or 20th of the month and end on the 14th or 19th of the following month (e.g. December 15th-January 14th or December 20th-January 19th).

The statement will be multiple pages, with the same setup each month.

The first page will provide a summary of what happened over the month such:

• Statement balance
• Minimum payment due
• Previous balance carried over from the previous statement cycle
• Payments made during the statement cycle
• Purchases made during the statement cycle
• New balance on the card from the statement cut date (15th or 20th of the month)

The second page (and possibly third page) will provide details on what is shown on page one, such as:

• Listing payments and credits from the last statement cycle
• Listing purchases from the last statement cycle
• Listing any fees charged from the last statement cycle, such as the monthly fee

All other pages will show your rights as a cardholder.

Where Can I View My Statements?

Statements are automatically setup to be electronic to be more environmentally friendly. Card members will receive an email when their statement is ready. The email will contain a link to the Possible app to ensure the only person who can view the statement is the account holder. If a member has push notifications on the Possible app, they will also receive a push notification when the statement is ready.

To access your statements, go to the Possible app, then:

1. Tap on the waffle icon (three bars) in the upper left of the screen
2. Tap on History, Statements & Documents near the end of the list
3. Tap on Possible Card
4. Tap on the statement you would like to view

If you ever want to review past statements, simply follow this process and choose from the list that appears.

What if There is an Error on My Statement?

If you think there is an error on your statement, contact us in writing at:

Possible Finance, c/o Coastal Community Bank

PO Box 98686

Las Vegas, NV 89193

In your communication, give us the following information:

Account information: Your name and Account number Dollar amount: The dollar amount of the suspected error. Description of problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us:

• Within sixty (60) days after the error first appeared on your statement
• At least three (3) Business Days before an automatic payment is scheduled, if you want to stop payment on the amount you think is wrong.

To review any of this information, please see the section on Your Billing Rights Summary which starts on the page after your transactions.