A secured card that reports to the three major credit bureaus — even without a bank account.
| Product Name | Green Dot® Platinum Visa® |
|---|---|
| Card Type | Visa |
| Annual Fee | $39 |
| APR (Annual Percentage Rate) for Purchases | 19.99% fixed |
| Cash Advance Rate | 19.99% variable |
| Foreign Transaction Fee | 3% of the transaction value |
| Cash Advance Fee | $10 or 3% of the cash advance amount, whichever is greater |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $27 |
| Returned Payment Fee | Up to $27 |
| Additional Cardholder Fee | $0 |
| Rates & Fees | Rates & Fees |
| Minimum Age | 18 years of age |
|---|
The Basics
The Green Dot® Platinum Visa® is a simple secured card that offers a solid opportunity to build or rebuild your credit. Your refundable security deposit act as collateral and becomes your credit limit. 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.
Most applicants qualify for this card that requires a low minimum security deposit of $200 to get started. Unlike most secured cards, Green Dot® Platinum Visa® does not require an existing bank account; instead, allowing you to pay your monthly bills at participating retailers. You won’t get rewards, but the 19.99% fixed APR is on the lower end for secured cards.
The Perks
The Green Dot® Platinum Visa® is not a prepaid or debit card but rather a credit card that helps you build your credit history with the three major credit bureaus. Its APR is also 3% to 5% lower than similar cards.
- Low 19.99% fixed APR. This APR applies to cash advances and everyday spending.
- No bank account required. Unlike with other secured card issuers, you can pay your bill at thousands of participating retailers, including Walmart and CVS.
- Flexible deposits. Put down from $200 to $1,000 for a deposit, which then becomes your credit limit.
What to watch out for
Green Dot® Platinum Visa® can help you build your credit to meet your financial goals. But consider the following before you apply:- Annual fee. Your annual fee comes off the top of your credit limit, limiting your spending. Other major cards — like the Discover it® Secured Credit Card and the Secured Mastercard® from Capital One® — don’t have an annual fee, but their APRs are 3% to 5% higher.
- Retailer payment fee. It may be worth it for you to open a checking account to avoid the $4.95 fee that comes with paying in person.
- No rewards or upgrades. This card offers no points or cash back 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. Retailers have a maximum deposit limit of $500, though Walmart’s maximum is a higher $1,000.
How to apply for the Green Dot® Platinum Visa®
Am I eligible?
You won’t need a specific score or credit history to be approved for the Green Dot® Platinum Visa®. But you will need to meet a few basic requirements:
- You’re at least 18 years old.
- You have a valid Social Security number.
- You have a verifiable physical US home address.
Apply for the Green Dot® Platinum Visa® online at Green Dot’s website:
1. Go to Green Dot’s site and click Platinum Credit Card.
2. Fill in your personal contact information and carefully review the disclosures, agreement and privacy policy. Check that you’ve read these documents and click Send my card.
Once you’re preapproved, you’ll also need to supply:
- Your employment status.
- Your monthly income.
- Your monthly housing expense.
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®. Payments take about 10 days to process.
- Pay by direct deposit or bank transfer.
- Pay at a Green Dot partner retail store. Put down your deposit at stores, including Walmart, 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.
I got the card. Now what?
Start building your credit with everyday spending and on-time payments that are reported to the three major credit bureaus.
- Pay your statement. Pay your bill online with a Green Dot® Platinum Visa® account, at a participating retailer or by mail.
- Avoid interest payments. After the close of each billing cycle, you have a grace period of 25 days to pay your balance. If you do, you won’t pay interest on your purchases.
- Avoid unnecessary fees. Returned payments come with hefty fees of up to $27. Cash advances and foreign transactions also come with fees.
- Contact customer service. Find support at 866-795-7597, on Facebook at Green Dot® Platinum Visa®, on Twitter @greendotcards or on Instagram @greendotcards.
What customers are saying about the Green Dot® Platinum Visa®
Known for prepaid debit cards, Green Dot® Platinum Visa® is relatively new to the secured card scene, so you won’t currently find many online reviews about their Green Dot® Platinum Visa®. But the company gets a solid A from the Better Business Bureau.
Bottom line
If you’re looking to build your credit and improve your overall financial health with a credit card, a secured card can get you there — especially one that reports to the three credit bureaus.
The Green Dot® Platinum Visa® is a decent option that comes with a credit limit equal to your refundable security deposit. Just watch out for the many fees that could trip you up.
Hello, I live in the United States but currently work overseas and I would like to know can the green dot platinum card be used internationally overseas?
Hi Thomas,
Thanks for your inquiry.
Yes, you may use Green Dot credit card everywhere as long as Visa is accepted. Please note that there is a foreign transaction fee of 3% of the amount you spend outside of the United States.
I hope this information helped.
Kind regards,
Bella
How often can you increase your credit limit up to the 5000
Hi Teresa,
Thanks for reaching out to us.
Credit card providers typically review your account after six months. Asking before that time could raise alarm bells and hurt your chances of a future credit limit increase. Asking again too soon after a previous request can have a similar outcome. It is better to ask for a conservative 10-25% increase than to wildly shoot for more. Unless your circumstances have drastically changed, your request should be capped at 30% more than your current limit.
For more information on how to increase your credit, you may go to this page.
Regards,
Nikki
How do I pay after I used the credit card? Will you guys bill be home and I send in the check?
Hi Dani,
Thanks for reaching out to finder.
Green Dot will send you an email notification when your monthly billing statement is already available and when you receive this email, you will need to login to your credit account to view your statement.
Here are the ways you can make payments to your Green Dot Platinum Visa card:
– Pay in cash at a participating retailer- you can go to this page to see the list of participating retailer. Please note that these participating retailers will charge you a service fee.
– Sending a check or money order at the address disclosed on your billing statement.
– Authorizing a payment from your bank account using our Telephone Customer Service or the number written at the back of your card
– Authorizing a payment from your bank account by telephone using Green Dot’s IVR system (without speaking to a Customer Service representative)
– Scheduling automatic payments from your bank – you can log on to Green Dot’s website
I hope this helps.
Cheers,
Charisse
Please I meant when I make a paymrnt from my bank account into the card.. I already paid the security deposit and I’m using the card already. But my payment into the card from my bank account is taking time
Hi Phil,
Thanks for getting in touch with finder. I hope all is well with you. :)
Generally, most retailers would make your money available on your card within 10 minutes. However, some retailers may take up to one hour. Now, if in case after a few hours, the money still didn’t show up on your card, then you would need to ask the retailer and check if the transaction went through. Once you have confirmed that it did, then you would need to directly get in touch with Green Dot.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
So you mean to tell me if i put down 200 as and deposit 200 will be my credit limit
Hey Jasmine,
Thanks for your inquiry and for visiting finder.
The $200 is a security deposit and is the required minimum amount to be deposited to the account. This acts as collateral and becomes your initial credit limit. You can put down $200 to $1,000 for a deposit depending on your requirement to use the card, this then becomes your available credit limit.
Hope this clarifies! Feel free to message us again if you have further questions.
Cheers,
Nikki
Please once I make a payment to my greendot secured visa card,,, how long does the payment take to process? How many business days
Hi Phil,
Thanks for reaching out to us.
Your card is already activated once you make the deposit for your security deposit on your Green Dot Platinum Visa. However, the activation time will depend on how you chose to pay your security deposit.
– Send a check or money order to Green Dot® Platinum Visa®. Payments take about 10 days to process.
– Pay by direct deposit or bank transfer.
– Pay at a Green Dot partner retail store. Put down your deposit at stores, including Walmart, 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.
Also. you can withdraw cash with your Green Dot® Platinum Visa® at any ATM, but only up to $400 per day. Keep in mind that these withdrawals are considered cash advances and come with fees and high-interest rates.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Cheers,
Nikki
Trying to reload my card
Hi Parish,
Thanks for leaving a question on finder.
To reload your card, please go to any participating retail chain such as 7-Eleven, CVS, Dollar General, Rite Aid, Walgreens and Walmart. Bring your card and cash to the cashier and they will swipe your card to load the cash for $4.95 or less. For retailers excluding Walmart, a $500 deposit limit per transaction applies.
You can also mail your deposit by check at no extra charge. Mailing a deposit by check will take an extra 10 days to process, which means you’ll need to wait longer in order to use your card.
Please send me a message if you need anything else. :)
Cheers,
Joel
Man I don’t know how you guys can answer the same questions over and over again without pulling your hair out LOL I’m seriously confused as to how people don’t understand that this is not a Green Dot website but merely a comparison website yet they still continue to demand information about their individual accounts through the comment section on a comparison websites review of green dots secured card.. I’m just wondering if things have seemed to get better over time or if people are still having the same issues with things like customer service and card activation and not being able to login to their accounts or have they finally updated their systems, it seems like a pretty straightforward program but I have yet to find any straightforward information anywhere online but here on finder!
NEED TO AS A QUESTION IF I CAN TALK TO SOME ONE
Hi Christopher,
Thank you for leaving a question.
You have reached finder. We are a comparison website that assists users on the content of our pages, If you wish to speak to Green Dot directly, you may call 1-866-795-7605 to speak to a representative. Hope this helps!
Cheers,
Reggie
Hello I was approved for a platinum green dot credit card.it says my credit amount approval is 5,000 how much of a security deposit do I need to use the 5,000 credit limit?
Hi Kim!
Thanks for your inquiry and for visiting finder.
It’s great to hear that you got approved of the Green Dot Platinum card.
The credit limit given is the maximum amount you can deposit into your account. Therefore, you can deposit any amount minimum of $200 – $5000.
Hope this clarifies! Feel free to message us should you have further questions.
Kind regards,
Nikki