Terms of Service

These Terms of Service (“Terms”) govern your access to and use of the Workcred platform and, for enrolled individuals, participation in the employer-sponsored credit building program offered through the platform (the “Program”). The Program is operated by Workcred, Inc. (“Workcred,” “Provider,” “we,” “us,” or “our”). By accessing or using Workcred or enrolling in the Program, you agree to these Terms.

1. Definitions

• “Platform” refers to the Workcred web application and associated APIs.
• “Employer” refers to the organization that subscribes to Workcred and may sponsor Program participation for its workers.
• “Employee” or “User” refers to an individual enrolled in an Employer's credit building program through the Platform.
• “Credit-Builder Account” refers to the account created for an Employee for credit building and reported to consumer reporting agencies.
• “Monthly Obligation” means the recurring financial obligation described in Section 7 associated with an active billing period under a Credit-Builder Account.

2. Eligibility

To use Workcred as an Employer, you must be a legally formed entity with authorized representatives. To enroll in the Program as an Employee, you must be at least 18 years old, reside in the United States, have legal capacity to enter a binding agreement, be employed by a participating Employer (where the Program is offered through employment), and provide accurate and complete information during enrollment. Participation in the Program is voluntary even when offered through your Employer.

3. Account registration and authorization

Employer administrators register via email verification (OTP). You are responsible for maintaining the security of your account and for all activities that occur under your account. You must provide accurate and complete information during registration.

By enrolling in the Program, you authorize us to create a Credit-Builder Account in your name, agree to the financial obligation described in Section 7, and consent to the collection, use, and reporting of your account data as described in these Terms and our Privacy Policy.

4. Services

Workcred provides:

• Creation of credit-builder accounts for enrolled employees
• Monthly payment processing and tracking
• Metro 2® compliant reporting of on-time payments to Equifax, Experian, and TransUnion through a data furnisher
• Employer administration dashboard for managing enrollment, payments, and reimbursements
• Employee portal for tracking credit building progress

5. Fees and payment (Employers)

5.1 Platform fee

Employers pay a recurring platform fee based on their selected billing model (per-employee, fixed monthly, or fixed annual) as agreed in the service contract. Platform fees are billed monthly unless otherwise specified.

5.2 Per-enrolled employee payments

A payment of $10.00 per enrolled employee per month is collected by Workcred. This payment is the basis for the Credit-Builder Account reported to consumer reporting agencies. Under the employer-funded model, this is billed to the Employer. Under the employee-funded model, this is deducted from employee payroll and remitted to Workcred.

5.3 Late payments

Invoices are due within 30 days. Late payments are subject to a 1.5% monthly interest charge. Continued non-payment may result in suspension of services.

6. Contract terms (Employers)

Service agreements have a minimum term (12, 24, or 36 months) as selected during onboarding. Contracts auto-renew unless written notice is provided at least 30 days before the end of the current term. Early termination fees apply as specified in the service agreement.

7. Employee program: financial obligation and sponsorship

7.1 Monthly obligation

By enrolling in the Program, you agree to a recurring financial obligation of $10.00 per month for each active billing period (“Monthly Obligation”), consistent with Section 5.2, unless a different amount is expressly stated in your enrollment flow or Employer agreement. Each Monthly Obligation is associated with a defined billing cycle.

7.2 When a Monthly Obligation is created

A Monthly Obligation is created only when an active billing period is initiated, which requires confirmed funding (by you, your Employer, or another third party on your behalf, as applicable). If funding is not confirmed for a period, no Monthly Obligation is created for that period.

7.3 Your responsibility

You are the legal obligor for all Monthly Obligations created under your Credit-Builder Account. You remain responsible for payment unless the obligation for that billing cycle is satisfied by a third party on your behalf.

7.4 Third-party payments (employer sponsorship)

Your Employer or another third party may pay your Monthly Obligation on your behalf. Such payments are third-party payments. When a third party pays the full amount due for a billing cycle, that payment fully satisfies your Monthly Obligation for that cycle. You remain the legal obligor under these Terms. Workcred does not guarantee that any third party will make payments on your behalf.

7.5 Application of payments

Payments may be made by your Employer (if sponsored), by you directly, or through payroll deduction as described in your Employer's configuration. Payments are applied to the Monthly Obligation for the applicable billing cycle.

7.6 No unfunded obligations

The Program is designed so that a Monthly Obligation is not created unless payment funding for that period is confirmed. Unfunded obligations are not generated for a period where funding is not confirmed.

8. Employee enrollment and consent

Employees must voluntarily opt in to the credit building program. Enrollment requires providing personal information including date of birth, phone number, mailing address, and last four digits of their SSN. By enrolling, employees authorize Workcred to create a credit-builder account in their name and report payment activity to consumer reporting agencies as described in these Terms.

9. Credit reporting

9.1 Authorization

By enrolling, you authorize Workcred to furnish information regarding your Credit-Builder Account to consumer reporting agencies in accordance with the Fair Credit Reporting Act (FCRA).

9.2 How we report

Workcred reports Credit-Builder Account data through a Metro 2® compliant data furnisher. We may report information such as account opening and closing dates, payment history (including on-time payments), and account status. Reported information reflects actual obligations created, actual payments received, and accurate account status; we do not report synthetic or estimated data.

9.3 Scores and bureau processing

We are not responsible for how consumer reporting agencies calculate credit scores or for delays in bureau processing.

10. Data and privacy

Your use of Workcred is subject to our Privacy Policy, which describes how we collect, use, and protect your information. Employers are responsible for obtaining appropriate consent from employees before importing their data into Workcred.

11. Cancellation and account closure

11.1 End of employer sponsorship

If your Employer or another third party stops making payments on your behalf (where applicable), no new Monthly Obligation will be created for future billing cycles, and your Credit-Builder Account will be closed in accordance with Program operations (including closure prior to the next billing cycle where no funding is available). No further payment obligations arise for periods after closure in accordance with these Terms.

11.2 Employee cancellation

You may cancel participation at any time through the employee portal. Upon cancellation, no new Monthly Obligations will be created and your account will be closed in accordance with these Terms. Existing payment history may remain on your consumer report as permitted by law.

11.3 Employer cancellation

Employers may cancel their service agreement subject to the minimum contract term and early termination provisions specified in their service agreement.

11.4 Closure status

Upon closure, your account may be reported with statuses such as “closed” in good standing or “paid as agreed,” consistent with Metro 2® guidelines and actual account history.

12. Accuracy of records; no retroactive modification

Workcred does not retroactively modify account history, create or remove obligations after the fact, or misrepresent payment activity. Records reflect actual events as they occurred, subject to permissible corrections under applicable law.

13. Disputes (reported information)

If you believe information reported about your account is inaccurate, you may submit a dispute by contacting us at legal@workcred.co. We will investigate disputes in accordance with the FCRA and applicable law.

14. Limitation of liability

15. Disclaimers

Workcred does not guarantee any specific credit score improvement, continued employer or third-party sponsorship, or eligibility for any particular credit product. Credit outcomes depend on many factors beyond payment reporting, including your overall credit profile, other accounts, and scoring models. Workcred provides the platform and Program “as is” without warranties of any kind, express or implied, except as required by law.

16. Governing law

These Terms are governed by the laws of the State of Delaware and applicable United States federal law, without regard to conflict of law principles. Any disputes arising under these Terms shall be resolved in the state or federal courts located in Delaware.

17. Changes to the Platform, Program, and Terms

We may modify these Terms, the Program, or the Platform at any time. Material changes will be communicated as required by law (including, for registered users, via email at least 30 days in advance where appropriate). Continued use of the Platform after changes take effect may constitute acceptance as described in the notice.

18. Contact

Questions about these Terms should be directed to:

• Email: legal@workcred.co
• Workcred, Inc.