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A solid credit-building card with a low APR on purchases.
30-second take
- Get this card if you want to build your credit with a secured card.
- Pick something else if you want an unsecured card or don’t want an annual fee.
- Apply with no credit history or with poor credit score.
| Product Name | Green Dot primor® Visa® Gold Secured Credit Card |
|---|---|
| Card Type | Visa |
| Annual Fee | $49 |
| APR (Annual Percentage Rate) for Purchases | 9.99% fixed |
| Cash Advance Rate | 18.99% fixed |
| Foreign Transaction Fee | 3% of the transaction value |
| Cash Advance Fee | $5 or 5% of the cash advance amount, whichever is greater |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $29 |
| Returned Payment Fee | Up to $29 |
| Additional Cardholder Fee | $29 |
| Minimum Age | 18 years of age |
|---|
The basics
The Green Dot primor® Visa® Gold Secured Credit Card gives consumers with damaged credit the opportunity to build a positive credit history with responsible spending and on-time payments. The card also comes with a low APR as far as secured cards go, but watch out for the many fees that you could incur.
To get this card, you must maintain at least $200 in an interest-bearing savings account, which also acts as a security deposit and a credit limit.
The perks
Build your credit.
The card reports to all three major credit bureaus — TransUnion, Experian and Equifax. This makes it easy to build your credit with responsible use and on-time payments.
Easy application.
There are no application fees or a credit check, and you can complete the application in minutes.
No minimum credit score.
You can apply with a poor credit score or without any credit history.
You’ll also like …
Fixed APR.
The card comes with an APR of 9.99% fixed . This is on the lower end, considering the APR for other cards can be up to 26%.
Credit limit.
You can deposit from $200 up to $5,000 in a savings account at Green Dot Bank. This amount acts as your credit line, and you can’t use it to make payments. You can increase your credit limit by depositing more funds into your savings account in $50 increments, but you’ll be charged a credit limit increase fee of up to $49.
FDIC insured.
Get peace of mind knowing your deposit at Green Dot Bank is FDIC-insured.
What to watch out for
Annual fee.
The card comes with an annual fee of $49. Every additional card will cost you $29. When your card is approved, your annual fee and any additional card costs will immediately be applied to your balance.
Foreign transaction fee.
Try to refrain from using this card when you travel abroad, as each purchase will cost an additional 3% of the transaction.
Other fees.
You’ll pay $29 to get a replacement card; for each expedited payment, you’ll pay $10; to request a stop payment for a cash advance check, you’ll pay $29 fee; to increase your credit limit, you’ll pay a $49 fee; upgrading costs up to $49; and reinstating a card costs $29.
Cash advances limit.
The amount of any cash advance you make will be limited to half of your credit line. For example, if your credit line is $200, you can take cash advances of up to $100.
Consider other cards if …
You want a similar card from another issuer.
Both the First Progress Platinum Prestige Mastercard® Secured Credit Card and the Applied Bank® Bank Secured Visa® Gold Preferred® Credit Card can be good alternatives. They have low APRs on purchases, report to all three credit bureaus and you can apply with poor credit or with no credit at all.
You can also check out the UNITY Visa® Secured Credit Card. It offers a short intro APR period on balance transfers and it has one of the largest credit limits you can deposit — up to $10,000.
You want to earn cash back while building credit.
The unsecured QuicksilverOne® Rewards from Capital One® or the secured Discover it® Secured can be solid cards if you want to build your credit and earn cash back for everything you buy.
You want an unsecured credit card to build your credit.
Check out our guide on how to get an unsecured card with bad credit. You can also get an unsecured card if you’re in college. Students can check out the Citi ThankYou® Preferred Card for College Students and the Journey® Student Credit Card from Capital One®.
Green Dot Bank secured credit cards – December 2018
Compare secured cards
What should I know before I apply?
To get the card, you have to be at least 18 years old — 19 in Alabama and Nebraska, 21 in Mississippi — and have no more than one open credit card with Green Dot Bank. Also, you must have a credit, debit or prepaid card.
In your application, you’ll need to provide the following information:
- Full name and contact details.
- Social Security number and date of birth.
- Monthly income and expenses.
- The amount you intend to deposit.
What do customers say about the Green Dot primor® Visa® Gold Secured Credit Card?
Most complaints relate to poor customer service and slow payment processing, sometimes taking up to 10 days. However, some customers claim they managed to get faster payment processing of up to 2 days by using the Green Dot Credit website.
Those who were satisfied with the card claim they managed to increase their credit score in just a few months of responsibly using the card.
How to apply for the Green Dot primor® Visa® Gold Secured Credit Card
- Go to the Green Dot primor® Visa® Gold Secured Credit Card webpage.
- Fill out the application form with all required details.
- Review your application and submit it.
How long will it take to get my Green Dot primor® Visa® Gold Secured Credit Card?
It usually takes a few minutes to get a decision from Green Dot. In some cases, it may take up to a few business days to process your application if more information is needed.
You should get your card in 7 to 10 days once you’ve been approved.
I got the card. Now what?
- Download the Green Dot app on your mobile device. With the app, you can make payments, send money, set up alerts and more — all from the comfort of your home.
- Pay on time. Your due date is 25 days after the close of each billing cycle. If you pay by then, you’ll avoid paying up to a $29 fee. Also, with timely payments, you can build your credit score.
- Customer support. For any questions, call Green Dot’s customer support at 1-866-795-7597.
What is Green Dot?
Green Dot is the largest prepaid debit card company in the world. Apple Pay Cash, Uber and Intuit all use Green Dot’s technology.
Bottom line
The Green Dot primor® Visa® Gold Secured Credit Card could be a good choice if you’re looking to build your credit. All you have to do to give your credit score a boost is make timely payments and keep your utilization low.
But be sure to read the fine print, as the card comes with a number of fees.
If you want to get an unsecured card for bad credit, check out our guide on how to achieve that. You can also consider other secured credit cards to find the best card for your situation.
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.
Hi,
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,
Rench