US-based fintech X1 has set to roll out its income-based credit card to the public, with a reportedly 5x higher credit limit than traditional card providers. X1 Card is taking a different tack by underwriting customers based on their income rather than their credit scores, which the company says enables it to set credit limits up to 5x higher than traditional card providers.

The product, which doesn’t charge an annual fee, has reached USD 50 million in monthly transaction volume in the first six months after rolling out its product to a limited set of beta customers. Now, armed with USD 25 million from a new funding round, the product is launching to the general public. X1’s representatives stated that there isn’t an annual fee like other credit card companies have to pay for their ridiculous marketing, explaining that for most credit card companies he’s looked at as an investor, those fees directly fund advertising costs.

All of X1’s advertising is done through word-of-mouth. The card offers other user-friendly features such as 2x points on all purchases (3c if you spend over USD 15,000 in a year) and an offering tailored to families that want to earn points together. The latest funding will facilitate the company to add even more new products and features to the card.