Frequently Asked Questions

General

How does Vergo make money?

Every time you use your debit or credit Vergo card we charge the merchant a small fee. This is the same as any other credit card company. The difference is that we’re obsessed with your industry and building the best banking experience possible.

Where can I use Vergo and what does it mean that the Vergo card is “universally accepted”?

Vergo cardholders can use their card anywhere Visa is accepted.

Are cash withdrawals possible with my Vergo card?

Yes - you can withdraw cash using your Vergo debit card from any ATM in the Allpoint network - you can find ATM locations here: https://www.allpointnetwork.com/locator.html

How is Vergo better than my current credit card?

Vergo is a credit card and financial platform exclusively for your industry with our features designed for your needs. Every time you make a transaction using a Vergo card you can tag it to a project you’ve created, so you can see exactly how much you’ve spent and earned on a project. We also offer tools like invoicing, payments and a checking account to reduce the amount of applications you need to work in.

What are your fees?

Vergo does not have any application or annual membership fees. We do that to help create a better experience and more accessible entry point for businesses in their growth phase.

What benefits do you have?

We offer 1% cash back on all spend using both the Vergo credit and debit card

What is Vergo?

Vergo is a financial platform built exclusively for businesses in the home building, design and renovation to automate your project finances which includes a rewards credit card, zero fee business checking account, project expense tracking and invoicing.

What businesses does Vergo work for?

Vergo is exclusively for businesses in the construction, interior design, architecture and home renovation industry. In order for us to approve your business, it must be set up as a corporation, LLC, or partnership at this time. A quick and convenient online application process and examination are requirements for approval. Call us at (202) 979-9711 or send us an email at support@getvergo.com if you're not sure if Vergo is the best fit for you.

Does Vergo report to business credit bureaus?

Yes, Vergo reports monthly to the Small Business Financial Exchange (SBFE®)

Vergo Application

Why is Vergo requesting my consumer credit report?

Vergo might ask your permission to conduct a "soft pull" on your consumer credit report in order to assess your creditworthiness but this credit check will not have an impact on your consumer credit score.

How does Vergo make money?

Every time you use your debit or credit Vergo card we charge the merchant a small fee. This is the same as any other credit card company. The difference is that we’re obsessed with your industry and building the best banking experience possible.

Where can I use Vergo and what does it mean that the Vergo card is “universally accepted”?

Vergo cardholders can use their card anywhere Visa is accepted.

Are cash withdrawals possible with my Vergo card?

Yes - you can withdraw cash using your Vergo debit card from any ATM in the Allpoint network - you can find ATM locations here: https://www.allpointnetwork.com/locator.html

Will applying for Vergo have an impact on my personal credit?

No. Applying for Vergo will never affect your personal credit score.

How is Vergo better than my current credit card?

Vergo is a credit card and financial platform exclusively for your industry with our features designed for your needs. Every time you make a transaction using a Vergo card you can tag it to a project you’ve created, so you can see exactly how much you’ve spent and earned on a project. We also offer tools like invoicing, payments and a checking account to reduce the amount of applications you need to work in.

What's the process time for my Vergo application?

Your application may be approved within minutes in some cases and in other cases, we might need some more time to review which could take up to 5 business days after your application is completed. We'll respond to you by email. Please email support@getvergo.com or give us a call at (202) 979-9711 if you haven't heard back from us after five business days.

What are your fees?

Vergo does not have any application or annual membership fees. We do that to help create a better experience and more accessible entry point for businesses in their growth phase.

What benefits do you have?

We offer 1% cash back on all spend using both the Vergo credit and debit card

Can I carry a balance from one month to the next?

You cannot hold a balance because each monthly due date is when your entire Vergo bill is due. Your payment is due on the tenth day after the conclusion of each billing cycle.

How much credit can I get?

If you’re approved for a Vergo account you’ll be notified by email on what your monthly credit limit is and you’ll also be able to see this in the app under the cards section.

What is Vergo?

Vergo is a financial platform built exclusively for businesses in the home building, design and renovation to automate your project finances which includes a rewards credit card, zero fee business checking account, project expense tracking and invoicing.

Is a personal guarantee required by Vergo?

No. Vergo does not require owners to personally guarantee your company’s expenses.

Why are you asking me for other documents, such a utility bill?

Financial institutions are required by U.S. federal law to gather, verify, and record information identifying business clients and their beneficial owners, including a control person, in order to assist the government in combating the funding of terrorism and money laundering operations. If we are unable to verify your identification and the information you submitted in your application by another method, we may request that you provide specific documentary evidence.

What businesses does Vergo work for?

Vergo is exclusively for businesses in the construction, interior design, architecture and home renovation industry. In order for us to approve your business, it must be set up as a corporation, LLC, or partnership at this time. A quick and convenient online application process and examination are requirements for approval. Call us at (202) 979-9711 or send us an email at support@getvergo.com if you're not sure if Vergo is the best fit for you.

How can I pay my bill?

You can pay your monthly bill by either a) Sending money from your connect business bank account b) Using Autopay feature to automatically debit from your connected account each month c) Scheduling an ACH or wire payment from an external bank account to the account details in your app

Does Vergo report to business credit bureaus?

Yes, Vergo reports monthly to the Small Business Financial Exchange (SBFE®)

Why do Social Security numbers need to be provided?

In order to comply with relevant laws and regulations, to verify the identity of those connected to your business, and, if necessary, to obtain consumer credit records, we must acquire Social Security numbers. Your consumer credit score won't be impacted if you apply for Vergo, and there's no need for you to offer a personal guarantee.

What information do you gather as a part of the Vergo application?

In order to process your application, we will need some basic information about your company, including the names of any individuals who are beneficial proprietors of at least 25% of it as well as the identity of any person who will have considerable control over how the company is run. To verify the information you provide in the application, we may occasionally require you to submit extra paperwork, such as utility bills, identification cards issued by the government, or financial records, such as bank statements or accounting records.

Why was my application declined?

We review your application to assess your credit, that you operate within the industries we cover, make sure you fulfill Vergo's eligibility requirements, and conduct the legally required identity verification. We use a third party that runs a check on business, individuals etc and the decision they come back with is what we're obliged to follow from our banking partners.

When does my statement period end?

Statements are sent out on the first of every month.

How do I shut down my account?

For any inquiries or requests relating to account termination, please contact us through email at support@getvergo.com or by phone at 202 979-9711. In order to close your account, you must pay off any remaining sum owed to Vergo in full.

I don't own a smartphone that can receive SMS messages. Can I open an account with Vergo?

You need a mobile phone that can send and receive SMS text messages in order to use our service.

What should I do if I need to spend more than my monthly credit limit?

The best option is to pay off all or a portion of your balance before the due date. To pay off part of your balance during the month log into your account and go to the Card section. Click the Pay button to choose to make an early payment or enroll in Auto-Pay.

Who should I get in touch with if I have questions?

Email us anytime at support@getvergo.com or give us a call at 202 979-9711.

My transaction was declined. What should I do?

Please contact support on (202) 979-9711 or by email at support@getvergo.com and we will help you solve the issue.

How can I increase the Vergo credit limit for my company?

Vergo takes your creditworthiness into account when determining the credit limit for your company and when evaluating requests to raise it. If you want to ask for an increase in your credit limit, please email us at support@getvergo.com or give us a call at 202 979-9711. Please be aware that for us to consider your request, your Vergo account must have been opened at least three months ago and be in good standing.

How can I dispute a purchase or report a fraudulent purchase?

It is your responsibility to report fraudulent purchases immediately upon realizing. To resolve the disagreement or to obtain additional information, kindly get in touch with the business that processed the transaction first. Please contact us via email at support@getvergo.com or phone at 202 979-9711 to dispute the transaction no later than 60 days from the date we sent you a periodic statement containing the charge that is being disputed if the merchant is unable to resolve your dispute or you believe the charge is unauthorized. Depending on the situation, we might ask for documents to show that the transaction was unauthorized or fraudulent.

How can I update my account's phone number, email address, or mailing address?

Please send an email to support@getvergo.com or give us a call at (202) 979-9711 if you need to modify the phone number or email address of an account owner or the business's mailing address.

How can I make sure I pay on time?

The easiest way to ensure you pay your bill on time is by enrolling in our auto pay feature where we will debit your connected business bank account for your full balance on each due date. To enroll in auto pay please log into your account and go to the Card section. Click Pay, then click Auto-Pay.

What actions should I take if my Vergo card is stolen or lost?

Log into your Vergo App immediately, go to the Cards page and click ‘Lock card’ on the card that is lost or stolen. Please then contact us immediately on (202) 979-9711 or by email at support@getvergo.com. When the card is locked, no more transactions can be processed.

How is my information protected and secured by Vergo?

In order to uphold its commitment to information security, privacy, and dependability, Vergo uses a variety of technical and procedural security techniques. Please contact us at support@getvergo.com if you experience any security problems or have any inquiries. Below is a description of some of the safeguards Vergo uses to protect your data.

Terms and Payments

Can I carry a balance from one month to the next?

You cannot hold a balance because each monthly due date is when your entire Vergo bill is due. Your payment is due on the tenth day after the conclusion of each billing cycle.

How much credit can I get?

If you’re approved for a Vergo account you’ll be notified by email on what your monthly credit limit is and you’ll also be able to see this in the app under the cards section.

How can I pay my bill?

You can pay your monthly bill by either a) Sending money from your connect business bank account b) Using Autopay feature to automatically debit from your connected account each month c) Scheduling an ACH or wire payment from an external bank account to the account details in your app

When does my statement period end?

Statements are sent out on the first of every month.

What should I do if I need to spend more than my monthly credit limit?

The best option is to pay off all or a portion of your balance before the due date. To pay off part of your balance during the month log into your account and go to the Card section. Click the Pay button to choose to make an early payment or enroll in Auto-Pay.

How can I increase the Vergo credit limit for my company?

Vergo takes your creditworthiness into account when determining the credit limit for your company and when evaluating requests to raise it. If you want to ask for an increase in your credit limit, please email us at support@getvergo.com or give us a call at 202 979-9711. Please be aware that for us to consider your request, your Vergo account must have been opened at least three months ago and be in good standing.

How can I make sure I pay on time?

The easiest way to ensure you pay your bill on time is by enrolling in our auto pay feature where we will debit your connected business bank account for your full balance on each due date. To enroll in auto pay please log into your account and go to the Card section. Click Pay, then click Auto-Pay.

Support

How do I shut down my account?

For any inquiries or requests relating to account termination, please contact us through email at support@getvergo.com or by phone at 202 979-9711. In order to close your account, you must pay off any remaining sum owed to Vergo in full.

I don't own a smartphone that can receive SMS messages. Can I open an account with Vergo?

You need a mobile phone that can send and receive SMS text messages in order to use our service.

Who should I get in touch with if I have questions?

Email us anytime at support@getvergo.com or give us a call at 202 979-9711.

My transaction was declined. What should I do?

Please contact support on (202) 979-9711 or by email at support@getvergo.com and we will help you solve the issue.

How can I dispute a purchase or report a fraudulent purchase?

It is your responsibility to report fraudulent purchases immediately upon realizing. To resolve the disagreement or to obtain additional information, kindly get in touch with the business that processed the transaction first. Please contact us via email at support@getvergo.com or phone at 202 979-9711 to dispute the transaction no later than 60 days from the date we sent you a periodic statement containing the charge that is being disputed if the merchant is unable to resolve your dispute or you believe the charge is unauthorized. Depending on the situation, we might ask for documents to show that the transaction was unauthorized or fraudulent.

How can I update my account's phone number, email address, or mailing address?

Please send an email to support@getvergo.com or give us a call at (202) 979-9711 if you need to modify the phone number or email address of an account owner or the business's mailing address.

What actions should I take if my Vergo card is stolen or lost?

Log into your Vergo App immediately, go to the Cards page and click ‘Lock card’ on the card that is lost or stolen. Please then contact us immediately on (202) 979-9711 or by email at support@getvergo.com. When the card is locked, no more transactions can be processed.

How is my information protected and secured by Vergo?

In order to uphold its commitment to information security, privacy, and dependability, Vergo uses a variety of technical and procedural security techniques. Please contact us at support@getvergo.com if you experience any security problems or have any inquiries. Below is a description of some of the safeguards Vergo uses to protect your data.

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