primor Secured Visa Gold Card review February 2018 |

Review: primor® Secured Visa Gold Card – February 2018

Fast, easy application process with no processing fees

Application for the primor Secured Visa Gold Card is hassle-free and best for those with low credit or no credit. The card is offered through Green Dot Bank out of New Jersey. If you are looking to repair or build your credit, this could be an option for you.

Product Nameprimor® Secured Visa Gold Card
APR for Purchases ( Purchase Rate )9.99% variable
Annual fee$49
Cash Advance Rate18.99% variable
Card TypeVisa
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
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Minimum Interest$1
Minimum IncomeAt least $100 higher than your monthly expenses
Minimum Credit ScorePoor (Below 660)
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$49
Returned Payment Fee$29
Late Payment Fee$29
Cash Advance Fee$5 or 5% of the amount of each cash advance, whichever is greater

The basics

The primor Secured Visa Gold Card gives consumers with damaged credit the opportunity to build a positive credit history with responsible spending and on-time payments. And the card comes with a low APR as far as secured cards go, but watch out for the many fees that you could incur.

In order to open this secured card, you must maintain at least $200 in an interest-bearing savings account, which acts as a security deposit. Your security deposit sets your credit limit. However, the annual fee is deducted from your security deposit, meaning that if you put down a $200 security deposit, once the $49 annual fee is deducted, you’ll end up with a credit line of $151, not $200.

You can increase your credit limit by depositing more funds into your savings account in $50 increments, but beware: You’ll be charged a credit limit increase fee of up to $49.

The perks

  • Low interest rate. The APR of this card is 9.99%
  • Visa. Backed by Visa, this secured card is accepted worldwide.
  • Credit reporting. Your activity on the primor Secured Visa Gold Card will be reported to all three major credit bureaus, so if you are looking to build or repair your credit, this card can help you with that.
  • No penalty rate. The APR of this card will not change to a higher penalty rate if you are late with a payment.

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 Gold 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 Gold 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 Gold 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 Gold 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 Gold Card 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 say

    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 Gold 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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    2 Responses

    1. Default Gravatar
      AAJanuary 24, 2018

      Do I have to pay any fee if I cancel my card early? Or if I pay my balance off early? If yes, what are they?
      Thank you.

      • Staff
        RenchJanuary 25, 2018Staff


        Thanks for your inquiry.

        For primor® Secured Visa Gold Card, there’s no cancellation fee or a fee for paying your balance early. You may click on ‘Fees & Repayments’ tab on the page to view more info.

        You may click on the ‘Go to site’ button to know more info from primor official site and you can submit an online application from there.

        Hope this helps.

        Best regards,

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