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Green Dot Platinum Visa® Secured Credit Card review

Kliment Dukovski
Kliment Dukovski
Last updated:  

A simple secured credit card that can help you build your credit.

30-second take

  • Get this card if you have poor credit score or no credit history.
  • Pick something else if you don’t want to pay an annual fee.
  • Apply with poor credit score or with no credit history.

$39

Annual fee

19.99%

Purchase APR (fixed)

300

Recommended credit score

Details

Product NameGreen Dot Platinum Visa® Secured Credit Card
Card typeVisa
Annual fee$39
Purchase APR19.99% fixed
Balance transfer APRN/A
Cash advance rate19.99% 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
Late payment feeUp to $27
Returned payment feeUp to $27
Additional cardholder fee$0

Expert review

Kliment Dukovski

Review by

Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The Green Dot Platinum Visa® Secured Credit Card is a secured credit card that comes with a fixed 19.99% APR and a $39 annual fee. You can apply with a poor credit score or with no credit history, and depending on your approved credit limit, you can deposit between $200 and $5,000. The maximum credit line is on the higher end, considering most secured cards have a limit between $1,000 and $2,000.

Green Dot won’t make a hard pull when you apply, so you don’t have to worry about taking a hit on your credit. The card also reports to all three major credit bureaus — TransUnion, Experian and Equifax. This means you can easily build your credit score if you consistently make timely payments.

Card benefits

  • No credit check. Green Dot doesn’t make a hard pull on your credit when you apply for the card. This means you can apply with any credit score or with no credit history.
  • Reports to credit bureaus. Use your card responsibly and build your credit because Green Dot reports your card activity to the three major credit bureaus — Experian, Equifax and TransUnion.
  • Fixed APR. If you carry your balance, a fixed APR of 19.99% will apply for purchases and cash advances.
  • Multiple balance payment options. Aside from making online payments, you can pay your bill at thousands of participating retailers including Walgreens, 7-Eleven, Rite Aid and CVS.
  • Flexible deposits. Put down from $200 to $5,000 for a deposit, which then becomes your credit limit.

What to watch out for

  • Annual fee. You’ll need to pay a $39 annual fee to use the card.
  • Retailer payment fee. Despite not being a requirement, you may consider opening a checking account to avoid the $4.95 fee that comes with paying your bill at retailers.
  • No rewards or upgrades. This card offers no points or cashback rewards for your spending and won’t automatically upgrade you to an unsecured card as a reward for improved credit.
  • Deposit fees and limitations. It will cost you $4.95 to load deposits onto your card at participating retailers. Also, retailers have a maximum deposit limit of $500. You’ll have to mail a check for the difference if you get a higher credit limit approval.
  • Foreign transaction fee. Using this card abroad will cost you 3% of the amount of each transaction you make.

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

To apply for the card you need to:

  • Be at least 18 years old.
  • Have a valid Social Security number.
  • Have a verifiable physical US home address.

If you meet the eligibility criteria, here’s what to do next:

  1. Click apply now
  2. Fill in your personal contact information.
  3. Review the disclosures, agreement and privacy policy.
  4. Submit your application.

How to activate the card

Your card is activated once you make your security deposit. You can make a deposit in any of the following ways:

  • Send a check or money order to Green Dot Platinum Visa® Secured Credit Card. Send your deposit at Green Dot Bank, P.O. Box 400, Provo UT 84603-0400.
  • Pay by direct deposit or bank transfer. You can make this payment online.
  • Pay at a Green Dot partner retail store. Put down your deposit at stores, including CVS and 7-Eleven to activate your card. This is the fastest way to get access to your funds; they’ll be available within 10 minutes after they are loaded.

What credit score do I need?

You won’t need a specific score or credit history to be approved for the Green Dot Platinum Visa® Secured Credit Card.

Bottom line

If you’re looking to build your credit, the Green Dot Platinum Visa® Secured Credit Card could be a decent option worth considering.

But if you don’t want to pay an annual fee or if you’re looking for some additional perks, compare other secured credit cards until you find the right card for your financial needs.

Frequently asked questions

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237 Comments

  1. Default Gravatar
    Jennifer
    September 28, 2019

    My credit card hasn’t arrived

    Reply
    • AvatarStaff
      jackiejacalne
      September 29, 2019

      Hi Jennifer,

      Thank you for getting in touch with Finder.

      Sorry to hear that you have not received your credit card yet. The card should take between 7 to 10 business days to be delivered to your home. If the card still did not arrive, you can contact their support team by calling 866-795-7597. You can also reach them via Facebook at Green Dot® Platinum Visa®, on Twitter @greendotcards or on Instagram @greendotcards.

      Hope this helps.

      Regards,
      Jackie

      Reply
  2. Default Gravatar
    james
    July 15, 2019

    When should I expect my credit deposit to be returned. Some banks do 6 to 12 mo. How about Green Dot?

    Reply
    • AvatarStaff
      Joyce
      July 15, 2019

      Hi James B.,

      Thanks for leaving a question. Your Green Dot Platinum Visa security deposit will not be withdrawn or refunded. If you want your security deposit refunded, you must pay your balance in full and close your card account.

      Hope this helps.

      Cheers,

      Joyce

      Reply
  3. Default Gravatar
    Jeffrey
    June 13, 2019

    I have a platinum green dot card I made a 500.00 payment at 7/11 yesterday but it is not showing on my new balance. As of today it has been 24 hours now will this show on my account soon?

    Reply
    • AvatarStaff
      fayemanuel
      June 14, 2019

      Hi Jeffrey,

      Thank you for getting in touch with Finder.

      Sorry to hear about the delay in getting your money posted into your account.
      The funds should be available within 10 minutes after you load cash through 7-Eleven.

      Please note that you have reached Finder, a general information and comparison website. I suggest that you get in touch with Green Dot regarding your deposit since we wouldn’t be able to assist you on this matter.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Faye

      Reply
  4. Default Gravatar
    Victor
    June 11, 2019

    Can you overdraft your account?

    Reply
    • AvatarStaff
      Jhez
      June 12, 2019

      Hello Victor,

      Thank you for your comment.

      Yes, it’s possible that you can overdraft a Green Dot Account. And upon checking, they do not charge overdraft fees.

      Regards,
      Jhezelyn

      Reply
  5. Default Gravatar
    Shalonda
    June 3, 2019

    This secured credit card from green dot is not worth it. I can’t use it to get cash advances from any bank- i went to 5 major banks today and got declined for $100 cash advance and I have a credit limit if $500. I got declined at 7-11, I got declined at liquor store and Wal-Mart. I called the customer service and they can’t see any of the decline transactions. They told me they are partnered with Visa and they have certain restrictions on what companies accept visa. So what is the purpose of this card- Visa card if I can’t use it where i want.

    Reply
    • AvatarStaff
      fayemanuel
      June 4, 2019

      Hi Shalonda,

      Thank you for contacting Finder.

      Sorry to hear that you are unable to use your card. Please note that you have reached Finder, a general information and comparison website. You can contact Green Dot support team by calling 866-795-7597. You can also reach them via Facebook at Green Dot® Platinum Visa®, on Twitter @greendotcards or on Instagram @greendotcards.

      Hope this helps!

      Kind Regards,
      Faye

      Reply
  6. Default Gravatar
    Jewell
    May 27, 2019

    Does this really help build credit? Also can you cancel and get your money back at anytime?

    Reply
    • AvatarStaff
      Jeni
      May 27, 2019

      Hi Jewell,

      Thank you for getting in touch with Finder.

      Yes. This Green Dot Platinum Visa card helps you build your credit history with the three major credit bureaus in the US. You may use this card to withdraw cash at any time at any ATMs.

      If you’re still looking around, you may compare your secured card options to help you
      build your credit score on this page.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

      Reply
  7. Default Gravatar
    Laurie
    May 6, 2019

    If deposit the 200 USD, will I have a spending limit 5000 USD?

    Reply
    • AvatarStaff
      Jhez
      May 7, 2019

      Hello Laurie,

      Thank you for your comment.

      The $200 deposit will become your refundable security deposit and will act as collateral and this becomes your credit limit. Hence, if you deposit $200, your credit limit will also be $200. If you deposit $500 dollar, your credit limit will become $500 too.

      Regards,
      Jhezelyn

      Reply
  8. Default Gravatar
    Darren
    May 3, 2019

    I ordered a Platinum card and never received it. What number can I call to report that? Don’t give me the 866-291-0819.

    Reply
    • AvatarStaff
      Mai
      May 3, 2019

      Hi Darren,

      Thank you for contacting Finder.

      Sorry to hear that you have not received your card yet. You can contact their support team by calling 866-795-7597. You can also reach them via Facebook at Green Dot® Platinum Visa®, on Twitter @greendotcards or on Instagram @greendotcards.

      Hope this helps! 😊

      Kind Regards,
      Mai

      Reply
  9. Default Gravatar
    Salvador
    May 1, 2019

    Hello,

    I deposited some money online and now my card is not available and I’m trying to contact a representative but no luck. I have tried and tried a lot of times and I just want my refund if you guys can assist please.

    Reply
    • AvatarStaff
      Jeni
      May 2, 2019

      Hi Salvador,

      Thank you for getting in touch with Finder.

      Sorry to hear your frustration on the refund.

      Please note that you have reached Finder, a general information and comparison website. I suggest that you keep getting in touch with Green Dot regarding your refund since we wouldn’t be able to assist you on this matter.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

      Reply
  10. Default Gravatar
    Trish
    May 1, 2019

    How is this different from a prepaid card? If you deposit 200$ than use the card it’s still your money not credit of 200$ I don’t see how this is called a credit card ? Am I incorrect?

    Reply
    • AvatarStaff
      nikkiangco
      May 2, 2019

      Hi Trish,

      Thanks for getting in touch with Finder! The big difference is that using a secured credit card will build your credit while using a prepaid debit card will not. The Green Dot is used by most people building or rebuilding credit. The $200 is a refundable security deposit and acts as collateral and becomes your credit limit at a minimum. With on-time payments and responsible spending reported to the three major credit bureaus, you’ll be on your way to improved creditworthiness. You can even prequalify with Green Dot® Platinum Visa® without affecting your credit score.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

      Reply
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