primor® Secured Mastercard® Classic Card review April 2018 |

Review: primor Secured Visa Classic Card – April 2018

Get approved for this secured card relatively easily — but be wary of its many fees.

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The primor Secured Visa Classic Card is backed by a security deposit, so those with poor or no credit have a much better chance of being approved. Cardholders will also benefit from payment history reporting to all three major credit bureaus. Just make sure to read the cardholder agreement, as there are many fees to be aware of.

Product Nameprimor® Secured Visa Classic Card
Regular APR13.99% variable
Annual Fee$39
Cash Advance Rate18.99% variable
Card TypeVisa
Grace Period
The grace 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 Interest$1
Minimum IncomeAt least $100 higher than your monthly expenses
Minimum Credit ScoreNo Score
Minimum Age18 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.
Annual Fee$39
Returned Payment Fee$29
Late Payment Fee$29
Cash Advance Fee$5 or 5% of transaction amount (whichever is greater)
Additional Cardholder Fee$29

The basics

If you’ve had trouble getting approved for a credit card, you may want to take a look at the primor Secured Visa Classic Card. You’ll place a security deposit as collateral, and your credit limit will depend on how much you deposit (a range from $200 to $5,000, depending on what you are approved for).

However, the annual fee is deducted from your security deposit, meaning that if you put down a $200 security deposit, once the $39 annual fee is deducted, you’ll end up with a credit line of $161, not $200.

If your monthly income is 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’ll begin to build a positive credit history.

The card comes with a reasonable 13.99% variable purchase rate; however, the card is chock full of fees, including a credit limit increase fee, an automated account information fee, a replacement card fee and many others.

The perks

  • Poor credit OK. No minimum credit score required.
  • 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 national credit bureaus, so you can build credit as you use the card and make timely payments.

What to watch out for

  • Credit limit increase fee. Increasing your credit limit comes with a fee of up to $49.
  • Miscellaneous fees. You may also encounter fees for statement duplicates ($5 per copy), credit reinstatement ($29), stop payments ($29), additional cards ($29), replacement cards ($29), automated account inquiries ($0.50 per inquiry) and card upgrades ($49).
  • Annual fee. The annual fee is deducted from your security deposit, which will reduce your credit limit.

How to apply for the primor Secured Visa Classic Card

Required documents and information

  • Your name, residential status and residential address
  • Your Social Security number
  • Your email address, phone number and date of birth

Steps to apply

Always consider your options and your financial situation before you apply for a credit card.

  1. Go to the Green Dot Bank website and find the primor Secured Visa Classic Card landing page.
  2. 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.
  3. Enter your Social Security number, income and personal information.
  4. After you apply, Green Dot Bank will contact you with a decision.

How likely is approval?

You don’t need to have a good credit history, or any credit history at all, to qualify for the primor Secured Visa Classic Card. However, there some requirements that you must meet to be approved.

  • You are at least 18 years old (19 in Alabama and Nebraska, 21 in Mississippi).
  • You have no more than one open credit card with Green Dot Bank.
  • If you have an open credit card with Green Dot Bank, you must be current with the card’s payments and not over your credit limit.
  • If you have had a credit card with Green Dot Bank, your account cannot have been charged off.
  • Your monthly income is at least $100 higher than your monthly expenses

I got the credit card! Now what?

Use your primor Secured Visa Classic Card wisely as a tool to rebuild your credit. It’s best to only make purchases on the card that you can repay at the end of the month in order to avoid paying interest.

  • How to make payments. Green Dot Bank states that all payments are credited promptly. You can make your payment online. Please note that the money in your savings account is NOT used toward your monthly payment. That money must stay in the savings account, as it acts as the security deposit for your credit card.
  • Avoid unnecessary interest. Green Dot Bank gives you a 25-day grace period after each billing cycle to pay for your purchases with no interest.
  • Graduating to an unsecured card. The primor Secured Visa does not provide a direct path to an unsecured card. 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.

    What customers are saying about the primor Secured Visa

    You’ll find an equal mix of 1 star and 5 star reviews online. Many complain of poor customer service and high fees, but others say that if you use the card responsibly (i.e., 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.

    Bottom line

    If you’re looking to build your credit, the primor Secured Visa Classic Card could be a good solution for your situation if you use your card responsibly, keep your credit utilization rate low and make your monthly payments on time. Just be aware of the cards many fees and be sure to check out other similar credit cards.


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    10 Responses

    1. Default Gravatar
      LouisMarch 6, 2018

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

      • Staff
        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,


    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

      • Staff
        LiezlOctober 11, 2017Staff

        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,

    3. Default Gravatar
      KristinaOctober 9, 2017

      I got approved so how do I get the card

      • Staff
        LiezlOctober 11, 2017Staff

        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,

    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?

      • Staff
        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.


    5. Default Gravatar
      JayApril 3, 2017

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

      • Staff
        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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