A crypto-collateralized credit card is a type of credit card that allows users to access a credit limit by pledging a deposit—typically stablecoins like USDT in this case—as collateral.

Instead of undergoing a traditional credit check or submitting income documents, users pledge a deposit into a secured wallet. A full equivalent amount of that deposit is used to establish your credit limit, while the amount is held as collateral to mitigate default risk.

With LookCard+ Visa Credit Card, users can:

• Deposit USDT to obtain their credit line

• Spend in fiat globally via the Visa network

• Repay in USDT, directly through the lookcard.io app, without the need to go through any bank accounts

This model bridges decentralized finance (DeFi) and traditional payment systems, offering users a flexible and accessible way to unlock credit using digital assets.

✅ Eligibility Requirements

1. Age Requirement:
   You must be at least 18 years old.

    

2. Residency:
   Residents of most countries are eligible, except those in sanctioned or restricted regions.
   
   
3. Identification:
   A valid government-issued ID is required, such as Passport or National ID for certain countries.
   
   
4. KYC Verification:
   Complete the KYC process, which include:
   • Uploading your ID documents
   • Providing facial records

Proof of address is generally not required during standard onboarding unless:

• The user is from a restricted or high-risk region
• The information provided is flagged during the KYC process
• A single transaction exceeds USD 20,000 in which case enhanced due diligence (EDD) applies

In all the other cases, the residential address provided during registration is verified through internal validation system. LookCard reserves the right to request proof of address at any time if deemed necessary for compliance purposes.

The card base currency is USD. This means:

• All spending in foreign currencies will be converted to the equivalent USD amount at the prevailing exchange rate (Visa) at the time of the transaction.

• Repayments must be made in USDT (Tether), which is pegged to the US Dollar.

• The platform does not currently support multi-currency balances or repayment in other currencies.

Instant in most cases; around 2-5 minutes. Manual review (if required) may take up to 48 hours.

LookCard+ Visa offered two types of cards:

• Virtual Card: Issued instantly upon approval of your card application. It can be used immediately for online purchases and mobile wallet transactions (e.g., Apple Pay, Google Pay).

• Physical Card: Available upon request. If you wish to obtain a physical card, you must place an order through the lookcard.io mobile app. Shipping and delivery times may vary depending on your location.

Both card types are linked to the same account and credit limit, offering flexibility in how you spend.

After successfully activating your account and unlocked your credit card, you may request a physical card directly through the mobile app.

To order:

Navigate to:
Settings > General > Getting Started > Order Physical Card

Follow the step-by-step guide provided.

Card order fees apply. Production and delivery times typically range from 14 to 21 business days.

There is NO card activation fee. However, a one-time account activation fee of USD 99 is required to activate your lookcard.io platform account and unlock your credit card.

This activation enables access to the full suite of features, including:

• Virtual credit card issuance 

• Wallet functions

• Fund transfers between users

• Withdrawals

• Transaction monitoring and more
  
  

Once the account is activated, your account will be fully functional and ready for use.

Yes.  To activate your lookcard.io platform account, a minimum initial deposit of USD 200 is required.

• USD 99 will be instantly deducted from Current Account Wallet as a one-time account activation fee

• The remaining USD 98 is automatically transferred to your Credit Limit Wallet as your credit limit

• USD 3 will be deducted as deposit admin charge
  
  

You may deposit additional funds at any time to increase your credit limit.

Yes, you can increase your credit limit in the following ways:

1. Deposit Additional Funds
   You may increase your credit limit at any time by depositing additional funds into your Credit Limit Wallet, which will act as collateral. The deposited amount directly increases your credit limit.
   
   

2. Build a Strong Repayment Record
   Currently, all credit limits are collateral-based. However, if you consistently maintain timely repayments and responsible usage, LookCard may offer an unsecured credit limit increase in the future—without requiring additional deposits—as part of an internal credit profile review.

This flexible model allows you to scale your credit access while building a positive credit history within the LookCard platform.

No. The collateral deposit cannot be withdrawn under any circumstances while your LookCard+ Visa Credit Card is active, nor can it be used to offset or repay your credit card balance.

The collateral amount is strictly reserved to secure your credit limit and can only be refunded upon full termination of your credit card account, subject to the following conditions:

• There is no outstanding balance on your credit card account

• You have formally submitted a termination request

• Your account has been active for a minimum of six (6) months prior to the termination request

Once these conditions are met and your termination is approved, your collateral deposit will be refunded to your lookcard.io platform current account wallet within 90 days from the approval date.

Please refer to the Cardholder Agreement for full policy details.

You can repay your outstanding balance directly through the lookcard.io app using the funds in your current account wallet.

Repayment options include:

• Full repayment of the outstanding balance

• Statement balance for the current billing cycle

• Minimum payment to maintain your credit standing

• Custom amount based on your preference

Please ensure your current account wallet has sufficient USDT balance before initiating repayment. All repayments will automatically restore your available credit limit upon successful processing.