If you have little or poor credit, this card is easy to apply for and could help you build a credit history.
The primor® Secured Mastercard® Classic Card has easy-to-meet eligibility criteria — with no fees or credit check required.
Once you apply, Green Dot Bank will process your information to see if you qualify. All you have to do is open an FDIC–insured savings deposit account.
While there are no monthly fees, there is a $39 annual fee. Before opening the card, you will make a security deposit from $200 to $5,000 that will become your credit limit.
|Product Name||primor® Secured Mastercard® Classic Card|
|APR for Purchases ( Purchase Rate )||13.99% variable|
|Cash Advance Rate||18.99% variable|
|Interest Free Period|
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
|Up to 25 days|
|Returned Payment Fee||$29|
|Minimum Income||At least $100 higher than your monthly expenses|
|Minimum Age||18 years of age|
|Min credit limit|
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|Max credit limit|
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
|Returned Payment Fee||$29|
|Late Payment Fee||$29|
|Cash Advance Fee||$5 or 5% of the transaction amount (whichever is more)|
|Additional Cardholder Fee||$29|
- Easy application.
- Allows you to build credit.
- Fixed rates.
- Guaranteed approval.
- High interest for cash advances.
- Variable credit limit.
What are the benefits of the primor Secured Mastercard® Classic Card?
- Easy application. It’s quick and easy to apply, with no fees or credit check.
- Allows you to build credit. The card reports to all three nationwide credit bureaus, so you can build credit as you use the card.
- Fixed rates. All interest rates are fixed with no penalty rate.
- No minimum credit score. People with all credit types are welcome to apply.
What to watch out for
- Fees. Expect a $39 annual fee, along with other fees for replacement or additional cards.
- High interest for cash advances. APR for cash advances is 18.99% variable.
- Variable credit limit. Depending on the amount of your security deposit, you’ll end up with a $200 to $5,000 credit limit. You can increase your limit in $50 increments.
The primor® Secured Mastercard® Classic vs. Discover it Secured
Am I even eligible?
- Your monthly income must exceed your monthly expenses by $100.
- You must be at least 18 years old (at least 19 in Nebraska and Alabama, and at least 21 in Mississippi).
What information do I need to apply?
You’ll need the following information to apply:
- Your full name and contact information
- Your email address
- The length of time you’ve lived at your current address
- An active checking account
- Your birthdate and Social Security number
- Proof of income
- A deposit that will become your credit line
You may also need to provide government-issued ID, like a driver’s license.
How to apply for the primor Secured Mastercard® Classic Card
- Go to the Green Dot Bank website and find the primor Secured Mastercard® Classic Card landing page.
- Enter your personal and contact information through Step 1 at the right of the page. Once you’ve entered your information, go to Step 2.
- Enter your Social Security number, income and personal information.
- After you apply,Green Dot Bank will contact you with a decision.
The primor® Secured Mastercard® Classic vs. Capital One Secured
I got the credit card! Now what?
Enjoy a low 9.99% interest rate on all purchases with your primor Secured Mastercard® Gold Card. The card also reports to the three major credit bureaus to help you build credit.
- How to make payments. Green Dot Bank states that all payments are credited promptly. You can pay through the website.
- Avoid unnecessary interest. Green Dot Bank gives you 25 grace period after each billing cycle to pay for your purchases with no interest.
If you’re looking to build your credit, the primor Secured Mastercard® Classic Card could be a good solution for your situation. Just be sure to check out other similar credit cards.
Frequently asked questions about the primor® Secured Mastercard
What credit score will I need for approval?
The application process does not a require a credit check. In fact, you can have bad, limited or no credit history. Regardless of your history, your APR is a fixed 13.99% variable.
Does the primor Secured Mastercard® Classic Card offer rewards?
The card does not offer a reward or cash-back program. Instead, it’s a simple card to help cardholders build credit.
To get a card, will I need a savings account?
Yes, you will need to open a personal savings deposit account to secure a credit line.
Can I use this card for balance transfers?
No, the card doesn’t allow for balance transfers.