Green Dot primor Visa Classic Secured Credit Card review | finder.com

Green Dot primor® Visa® Classic Secured Credit Card review – September 2018

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A decent secured card that reports to all three major credit bureaus.

30-second take

  • Get this card if you want a secured card to help you build your credit.
  • Pick something else if you don’t want to pay an annual fee or you want an unsecured card.
  • Apply with no credit history or with a poor credit score.
Product NameGreen Dot primor® Visa® Classic Secured Credit Card
Card TypeVisa
Annual Fee$39
APR (Annual Percentage Rate) for Purchases13.99% fixed
Cash Advance Rate18.99% fixed
Cash Advance Fee$5 or 5% of the cash advance amount, whichever is greater
Foreign Transaction Fee3% of the transaction value
Interest Free PeriodUp to 25 days
Minimum Interest$1
Late Payment FeeUp to $29
Returned Payment FeeUp to $29
Additional Cardholder Fee$29
Minimum Age18 years of age

The basics

You may want to take a look at the Green Dot primor® Visa® Classic Secured Credit Card if you’ve had trouble getting approved for a credit card.

With a monthly income of at least $100 higher than your monthly expenses, you’ve got a high chance of being approved — even with poor or no credit. Furthermore, you’ll benefit from payment reporting to all three major credit bureaus. With responsible use and on-time payments, you can build a positive credit history.

However, the card comes with a number of fees, including a credit limit increase fee, an automated account information fee, a card replacement fee and several more.

The perks

  • Build your credit.

    The card reports to all three major credit bureaus — TransUnion, Experian and Equifax. Responsible use and on-time payments can help you build your credit, and eventually get a better card.

  • Easy application.

    Your application only takes minutes to fill out, and won’t come with any application fees or a credit check.

  • No minimum credit score.

    You can apply with no credit history or a poor credit score.

You’ll also like …

  • Fixed APR.

    You get a fixed APR of 13.99%. This is relatively low considering the average APR for most cards is 16%. Some cards even have APRs of up to 26% variable.

  • Credit limit.

    Your deposit in a Green Dot savings account will determine your credit line. You can deposit from $200 up to $5,000, but you can’t use this sum to pay your balance.

  • FDIC insured.

    The money you deposit at Green Dot is FDIC-insured.

What to watch out for

  • Annual fee.

    The card comes with an annual fee of $39. If you want to get an additional card, you’ll have to pay another $29.

  • Foreign transaction fee.

    Each purchase made outside of the US will cost you 3% of the transaction. This means, if you spend $1,000 when traveling abroad, you’ll pay $30, which is almost equal to your annual fee.

  • Other fees.

    Replacement cards cost $29; expedited payments cost $10 each; stop payments cost $29 each; if you want a credit limit increase, it’s up to a $49 fee; the upgrade fee is up to $49; and reinstating a card costs $29.

  • Cash advances limit.

    If you’re making cash advances, you can only use half of your credit line. For example, for a $400 credit line you can only use $200 for cash advances.

Consider other cards if …

Compare secured cards

Name Product APR (Annual Percentage Rate) for Purchases Welcome Bonus Interest Free Period
19.14% variable
Up to 25 days
A secured Visa® credit card that helps you build your credit quickly.
9.99% fixed
Up to 25 days
Low fixed interest rates with no penalty rate.
10.24% variable
Up to 25 days
9.99% fixed
This secured card can help you rebuild your credit with an initial deposit of $200 to $1,000.
20.24% variable
Up to 25 days
17.99% fixed
Up to 25 days
Borrow up to $10,000 and get your credit score back on track.
14.99% variable
Up to 25 days
26.24% variable
Up to 25 days
13.99% fixed
Up to 25 days
Have little or poor credit? The primor® Secured Mastercard® Classic has no minimum credit score requirements and no processing or application fees to worry about.
9.99% fixed
Up to 25 days
Fast, easy application process. No processing or application fees!
13.99% fixed
Up to 25 days
Credit lines available from $200 to $5,000! You decide where you want to start and open your Personal Savings Deposit Account to secure your line.
17.99% variable
Earn 5,000 miles after your first purchase
Up to 24 days
Earn SKYPASS miles while building your credit history in the United States.
13.74% variable
Up to 21 days
Created to help you establish or rebuild credit.
36% variable
Up to 27 days
Easy Online Application! Your account history reports to the major Consumer Reporting Agencies.

Compare up to 4 providers

What should I know before I apply?

To apply, you need to be at least 18 years old, 19 in Alabama and Nebraska and 21 in Mississippi. You must also have no more than one open credit card with Green Dot Bank.

You’ll also need to provide information, such as:

  • Your name and contact information.
  • Your Social Security number and date of birth.
  • Your monthly income and expenses.
  • The amount you want to deposit.
When you apply, you give your consent to receive emails and digital newsletters from Green Dot’s marketing partners.

What do customers say about the Green Dot primor® Visa® Classic Secured Credit Card?

Some customers claim that it takes up to 10 days for their payments to process, which hurts their credit-building efforts. Others claim that by using the Green Dot Credit website, their payments were processed way faster — in 2 days or less. Customers also complain about Green Dot’s customer support.

How to apply for the Green Dot primor® Visa® Classic Secured Credit Card

  1. Go to the Green Dot primor® Visa® Classic Secured Credi Card webpage.
  2. Enter your personal information.
  3. Review and submit the application.

How long will it take to get my Green Dot primor® Visa® Classic Secured Credit Card?

It usually takes less than a minute to get a decision, but it may take longer in some cases.

Once approved, you’ll have your card within 7 to 10 business days.

I got the card. Now what?

  • Download the Green Dot app on your mobile device. With the app, you can pay your bills, send money, set up alerts and more.
  • Pay on time. Late payments come with a fee of up to $29. You’ll also find it hard to build your credit.
  • Customer support. Call Green Dot customer support at 1-866-795-7597 for any issues or questions you may have.

Bottom line

The Green Dot primor® Visa® Classic Secured Credit Card could be a decent choice for those looking to build their credit. With responsible use, a low utilization rate and timely payments, you should get your score up in no time.

The drawback comes in the form of many fees. Make sure you read the card’s terms before applying for the card.

You can also check out similar credit cards to compare your options and find the right card for your financial situation.

Frequently asked questions

Megan Horner

As the assistant publisher of credit cards at finder.com, Megan is passionate about helping you compare and find the best credit cards for your situation, whether that is earning great rewards or improving your credit score. In her previous position, Megan worked as an assigning editor at Credit Karma, where she focused on editing and publishing educational articles on credit cards. Megan started her career as a writer at a comparison website, so she has a longstanding background in surfacing the best deals and helping people make decisions. In her spare time, Megan likes to hike, camp, surf, and read.

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10 Responses

  1. Default Gravatar
    LouisMarch 6, 2018

    How do you recover your secure deposit for the secured credit card?

    • finder Customer Care
      nikkiangcoMarch 7, 2018Staff

      Hi Louis,

      Thanks for your question.

      When you apply for a secured credit card, the bank will require you to apply and connect a savings account with them. If and when you decide to discontinue using a secured credit card, all funds can be withdrawn by you or you may opt the funds to be transferred to the savings account.

      Hope this information helped you.

      Thanks and best regards,

      Nikki

  2. Default Gravatar
    HcpOctober 9, 2017

    This doesn’t run a credit check, correct? I don’t want my credit to take another loss by having a hard inquiry on it

    • Default Gravatar
      LiezlOctober 11, 2017

      Hi Hcp,

      Thanks for your question. Yes, applying for this card does not require a credit check. However, you have to meet the approval requirements and provide the documents mentioned above.

      Kind regards,
      Liezl

  3. Default Gravatar
    KristinaOctober 9, 2017

    I got approved so how do I get the card

    • Default Gravatar
      LiezlOctober 11, 2017

      Hi Kristina,

      Thanks for your question. Once you are approved, the card should take between 7 to 10 business days to be delivered to your home. In case of delay, you may call Green Dot directly to follow-up.

      Kind regards,
      Liezl

  4. Default Gravatar
    MPMAugust 9, 2017

    I have a new LLC and looking to establish credit for my business . Currently looking for a credit card for my new business with avg income of 2k a month?

    • finder Customer Care
      HaroldAugust 9, 2017Staff

      Hi MPM,

      Thank you for your inquiry.

      Should you need credit cards for your business you may consider this options.

      I hope this information has helped.

      Cheers,
      Harold

  5. Default Gravatar
    JayApril 3, 2017

    I deposited the 200$ today, how long before I get my card in the mail?

    • finder Customer Care
      JingApril 3, 2017Staff

      Hi Jay,

      Almost all credit card companies quote a 7-10 business day time-frame for receiving a new card in the mail. You should receive your Primor Secured Visa Classic Card in 2 weeks.

      Let us know if you have anymore questions.

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