A low-annual-fee card that can help you build your credit score.
- Get this card if you have no credit history or if you’ve had credit difficulties in the past.
- Pick something else if you want an unsecured card or you don’t want to pay an annual fee.
- Apply with no credit history or with poor credit score.
|Product Name||Green Dot primor® Mastercard® Classic Secured Credit Card|
|APR (Annual Percentage Rate) for Purchases||13.99% fixed|
|Cash Advance Rate||18.99% fixed|
|Cash Advance Fee||$5 or 5% of the cash advance amount, whichever is greater|
|Foreign Transaction Fee||3% of the transaction value|
|Interest Free Period||Up to 25 days|
|Late Payment Fee||$29|
|Returned Payment Fee||$29|
|Additional Cardholder Fee||$29|
|Minimum Age||18 years of age|
The Green Dot primor® Mastercard® Classic Secured Credit Card has easy-to-meet eligibility criteria, and there’s no credit check required. This means you can apply with no credit history, or with a poor credit score, and you can start building your credit with responsible use of your card.
After you’re approved, all you have to do is to open an FDIC–insured savings account with Green Dot Bank. The amount you deposit in the savings account will become your credit line.
Build your credit.
Green Dot reports your card activity to all three major credit bureaus — TransUnion, Experian and Equifax. You can potentially build your credit and work towards qualifying for an unsecured card by making timely payments and using the card responsibly.
No minimum credit score.
You can apply with no credit history or with a poor credit score and you may still get the card.
You’ll also like …
Your credit limit is determined by the amount you deposit into your Green Dot Bank savings account, and can range from $200 up to $5,000.
Your APR on purchases is fixed at 13.99%, which is relatively low when compared to the average of 16% or 26% that other cards offer.
Your deposit will be FDIC insured.
What to watch out for
The card comes with an annual fee of $39. Getting an additional card will cost you $29. Know that your annual fee will be deducted from your credit line as soon as you get your card.
Foreign transaction fee.
If you’re traveling abroad, try to refrain from using this card or you’ll pay a 3% fee of the amount of each transaction.
- Replacement card — $29 each
- Expedited payment — $10 each
- Stop payment — $29 each
- Credit limit increase — up to $49
- Upgrade — up to $49
- Card reinstatement — $29
- Automated account information inquiry — $0.50 each
Cash advances limit.
If you’re using cash advances, you’re limited to taking out half of your credit line. For example, if your credit line is $300, you can get up to $150 in cash advances.
Consider other cards if …
You want a similar card from another issuer.
Consider the First Progress Platinum Select Mastercard® Secured Credit Card or the OpenSky® Secured Visa® Credit Card. You can build your credit, and you don’t have to have any credit history to apply.
You can also check out the UNITY Visa® Secured Credit Card. It allows balance transfers, and has one of the highest credit limits available for a secured card — you can deposit up to $10,000.
You want to earn cash back while building credit.
You want an unsecured credit card for building credit.
The no-annual-fee Platinum Credit Card from Capital One® could be a decent card for your credit-building efforts.
However, if you’re a college student, you might want to consider the Citi ThankYou® Preferred Card for College Students and the Journey® Student Credit Card from Capital One®.
Compare secured cards
What should I know before I apply?
To apply for the card, you need to be at least 18 years old, 19 in Alabama and Nebraska and 21 in Mississippi. You must also have a credit, debit or a prepaid card.
You’ll need the following information to apply:
- Your full name and contact information.
- Your birthdate and Social Security number.
- Your financial information.
- A deposit that will become your credit limit and act as a security deposit.
What credit score do I need?
You can apply with no credit history or with a poor credit score. However, approval isn’t guaranteed.
What do customers say about the Green Dot primor® Mastercard® Classic Secured Credit Card?
You’ll find a fairly even mix of 1 star and 5 star reviews online. Many customers complain of poor customer service and high fees. Others say that if you use the card responsibly, like keeping your utilization rate below 30% and paying your bill on time, you’ll see a significant jump in your credit score in a short amount of time.
How to apply for the Green Dot primor® Mastercard® Classic Secured Credit Card
- Go to the Green Dot website.
- Enter your Social Security number, income and personal information.
- Review and submit your application.
How long will it take to get my Green Dot primor® Mastercard® Classic Secured Credit Card?
Usually you’ll get a decision on your application within a minute. In some cases, it could take up to five business days.
Your card should arrive in the mail within 7 to 10 business days following your application’s approval.
I got the card. Now what?
- Download the Green Dot app on your mobile device. You can use it to pay your bills or send money. You can also set up alerts and more.
- Pay on time. Late payment fees can cost you up to $29.
- Graduating to an unsecured card. You won’t get a direct path to an unsecured card with Green Dot. However, once you use this card to raise your credit score, you can then go on to apply for an unsecured card with another bank.
- Customer support. For any card-related questions, call Green Dot customer support at 1-866-795-7597.
What is Green Dot?
Green Dot is the world’s largest prepaid debit card company. Also, their technology is used by Apple Pay Cash, Uber and Intuit.
If you’re looking to build your credit, the Green Dot primor® Mastercard® Classic Secured Credit Card could be a good solution. The card reports to all three major credit bureaus, which makes it easy to build your credit if you use your card responsibly.
Make sure you read the card’s terms to avoid surprises, as it comes with several fees.
You can also check out similar credit cards to compare your options and find the right card for you.