Rating: 4 Stars
Bottom Line:
Online Security Deposit from Green Dot
Card Details
| Regular APR: | 19.99% (Variable) |
| Intro APR (Purchases): | None |
| Intro APR (Balance transfers): | None |
| Rewards Rate: | None |
| Credit Needed: | (0 – 300) Bad/Limited/No |
| Annual Fee: | $39 |
| Card Brand: | Visa |
*See online credit card application for details on the terms and conditions.
Offer Highlights
- Click APPLY NOW to apply online
- No processing or application fees
- No minimum credit score requirements. Low fixed interest rates with no penalty rate
- Reports to all three nationwide credit bureaus
- Whether you put down $200 or $5000, your credit limit is equal to the amount of the refundable security deposit
- Not a prepaid or debit card – spend within your credit limit, then pay your balance monthly, just like a regular credit card. Use everywhere Visa Credit is accepted in the U.S.
- Relax, good credit or a bank account is not needed to get a card. And, since there?s no credit check, there’s no effect on your credit when you apply
- Be sure to make on-time payments and keep your card balance low. Your payment and usage history gets reported to the three major credit bureaus, which can help you build a positive credit file over time
- Make your security deposit and monthly payments online for free or at thousands of retailers nationwide for $4.95
Is Green Dot Visa Secured worth it?
Green Dot Visa Secured is a solid card for people looking to build credit. Compared to popular secured cards, like Citi Secured Mastercard, Discover it Secured, and Capital One Secured Mastercard, Green Dot primor Visa Classic Secured has the same $200 initial credit line and an APR that is slightly lower.
However, it does have a $39 annual fee and a $29 additional card fee, while the other cards have no annual fee. Green Dot Visa? Secured offers the option to make your security deposit online and make monthly payments online for free or at thousands of retailers nationwide for $4.95.
If you are anticipating the possibility of carrying a balance, it would be better to choose another Green Dot card, which has lower APR. However, if having the ability to make payments at retailers will help you and you can pay the annual fee, Green Dot Visa Secured is a solid card to get to build credit.
Pros
- Make your security deposit and monthly payments online for free or at thousands of retailers nationwide for $4.95
- Build your credit
- Monthly reporting to all 3 major credit bureaus
- APR is lower than secured cards from Citi, Discover, and Capital One
Cons
- $39 annual fee
Why 4 Stars?
Regular APR
5 Stars
Intro APR
4 Stars
Fees
4 Stars
Perks
4 Stars
Overall
4 Stars
Fees
| Foreign Transaction Fee | 3% |
| Balance Transfer Fee | No Balance Transfers Allowed |
| Cash Advance Fee | Either $5 or 5% of the amount of each cash advance, whichever is greater |
| Penalty APR | None |
Benefits
| $0 Fraud Liability |
| Auto Rental Collision Damage Waiver |
| Baggage Delay Insurance |
| Concierge Service |
| Extended Warranty Program |
| Travel Accident Insurance |
| Lost Luggage Reimbursement |
| Purchase Protection |
| Roadside Assistance |
| Travel Assistance |
Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.
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