The economy has been a roller coaster lately. And, if you don’t play your cards right, you could easily crash and burn. So, if you do what you can right now to prepare, you will come out on the other side ready to thrive. My advice is to use this time to learn everything you can about business finance and use the knowledge to get ready for an economy on the upswing.
So, let’s take a look at one of the quiet financial institutions that play a major role in the US economy: Celtic Bank. Here’s a crash course on what the bank has to offer right now.
- Celtic Bank Company Overview
- Which Credit Cards are Issued Through Celtic Bank?
- Frequently Asked Questions
- Final Thoughts
If you’re interested in the above (and, I think you should be), keep reading.
Celtic Bank Company Overview
Founded in 2001 by Reese Howell, Celtic Bank, Utah, is a soft-spoken financial institution that has a strong foothold in the US financial ecosystem. By “soft-spoken,” I mean that they don’t brag about their partnerships (which are pretty big names).
Formally as a direct lender, Celtic offers residential mortgages, construction loans, SBA and USDA loans, and secured business loans. But, they don’t limit themselves to these offers.
Previously, we’ve covered the highlights of Stripe Capital, the Stripe Corporate Card, and Bluevine. So, guess who’s working behind the curtain to power those programs? That’s right — Celtic Bank Corporation. They also lend through Square and many other brands. But, you won’t see them name-dropping their partners or blatantly boasting about what they have to offer.
(And, the quiet institutions are usually the ones you need to watch closely.)
Which Credit Cards are Issued by Celtic Bank?
I’m not going to include a full list here. Instead, here’s a handful of Celtic Bank credit cards and a summary of features you can leverage.
1. Stripe Corporate Card
The Stripe Corporate card is a $0 interest, fee-free card from Stripe with 2% cash back on top two spending tiers.
2. Bluevine Business Credit Line
Bluevine’s lines of credit — though not their business checking accounts — are serviced through Celtic Bank.
3. Indigo Credit-Builder Mastercard
Celtic’s most well-known unsecured credit card for less-than-perfect credit.
4. Surge Credit-Builder Mastercard
Surge is made to help people build credit with an unsecured credit line, serviced by Celtic Bank, offered by Continental Finance.
5. Reflex Credit-Builder Mastercard
Reflex is another unsecured credit-builder card from Continental Finance, serviced through Celtic Bank (an almost identical offer to Surge).
Frequently Asked Questions
Is Celtic Bank a real bank?
Yes, Celtic Bank is a real bank, located in Salt Lake City, Utah.
Why is Celtic Bank on my credit report?
If you have a Stripe Corporate Card, Bluevine line of credit, Indigo, Surge, or Reflex unsecured credit builder card, you may see Celtic Bank on your credit report, since they are the bank that issues these cards.
Is Celtic Bank FDIC insured?
Yes, Celtic Bank loans and lines of credit are FDIC-insured.
Is Celtic Bank an SBA-approved lender?
Yep, Celtic Bank is SBA-approved, and even made the cut as an SBA-preferred — this means that Celtic Bank can approve SBA loans themselves, without secondary approval from the Small Business Association.
How is Celtic Bank rated?
On the consumer side, Celtic Bank isn’t necessarily a fan favorite. They aren’t BBB accredited, and they have a D- BBB rating.
What credit score do you need for Celtic Bank?
Credit scores for a Celtic Bank loan or line of credit vary by offer, since each program has its own set of terms and conditions. But, a few of the bank’s offers cater to less-than-perfect credit. A Bluevine line of credit, for example, requires a minimum FICO score of 625, while other offers might be even more lenient.
What credit cards are with Celtic Bank?
Celtic Bank is the servicer behind some popular and novel credit card offers, namely the Stripe Corporate Card, Bluevine’s line of credit, Indigo, Surge, and Reflex credit cards.
How do I contact Celtic Bank?
You can contact Celtic Bank via their website, where you can request a text back on their live chat or via their contact form, You can email firstname.lastname@example.org. Or, you can call 801-363-6500 to speak with a representative.
This post has been updated from the original piece, published in a 2020 series we wrote about newer financial institutions, to help small business owners navigate trying times. In those days, Celtic Bank was behind some PPP loans and other novel offers. Today, they are just as relevant — you can still take advantage of their offers to help build your credit. However, rather than use personal credit builder cards, I like to teach business owners how to build their business credit scores. To learn how to obtain up to $100K in as few as 30 days, join business credit workshop.