Green Dot primor® Visa® Classic Secured Credit Card
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EDITOR RATING

Green Dot primor® Visa® Classic Secured Credit Card

More about the Green Dot primor® Visa® Classic Secured Credit Card
    • Credit lines available from $200 to $5,000! Low fixed 13.99% interest rate on purchases – with
      no penalty rate!
    • No minimum credit score requirements! We invite all credit types to apply! No processing or
      application fees!
    • Helps strengthen your credit with responsible card use. Reports to three national bureaus
    • Fast, easy application process. Choose your credit line and open your Personal Savings Deposit
      Account to secure your line.
    • See additional Green Dot primor® Visa® Classic Secured Credit Card details

Reviewing The Green Dot primor Visa Classic Secured Credit Card

Consumers who do not have a bank account, commonly referred to as the “unbanked”, face an uphill battle when trying to build their credit profile. The Green Dot primor Visa Classic Secured Credit Card is a card that may be the answer for people without a bank account. If you are looking to rebuild or begin building your credit, this is a card that may help you in that quest. The Green Dot primor Visa Classic Secured Credit Card is issued by Green Dot Bank.

Main Benefits Of The Green Dot primor Visa Classic Secured Credit Card

Many secured credit cards on the market require consumers to have a bank account in order to become a cardholder. The Green Dot primor Visa Classic Secured Credit Card does not. In addition, consumers do not need any minimum credit score.

The card is void of any monthly or one-time fees, but there is an annual fee of $39.

The Green Dot primor Visa Classic Secured Credit Card has a relatively low APR of 13.99%.

The Green Dot primor Visa Classic Secured Credit Card has a very easy application process. Applicants should get word on whether their application was approved in a very short amount of time.

Your credit line will be determined by the amount of your security deposit. The minimum deposit of $200 and the maximum is $5,000. The security deposit is completely refundable when you close your account and pay off your balance in full.

All three major credit bureaus will be made aware of your account activity each month. Hence, prudent management of your account could help increase your credit profile which is particularly helpful to people who are trying to establish or re-establish credit.

The card is backed by Visa so cardholders should have no trouble using the card anywhere in the United States.

Main Drawbacks Of The Green Dot primor Visa Classic Secured Credit Card

A number of secured cards have no annual fee, so this card’s $39 annual fee is something of a drawback.

If you properly manage your secured card account, cardholders may be able to qualify for an unsecured card, one void of a security deposit. Green Dot Bank does not currently offer an unsecured credit card, so consumers cannot be upgraded by this bank.

Who The Green Dot primor Visa Classic Secured Credit Card Is Right For

Consumers who have no credit history or are trying to rebuild their credit profile may want to consider this card. Since it reports to all three national credit bureaus, it gives the cardholder the chance to build their credit with prudent use. And The Green Dot primor Visa Classic Secured Credit Card is one of those cards. It has a relatively low APR of 13.99% and no monthly or processing fees. However, there is a $39 annual fee which consumers must take into account before submitting their application.