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Green Dot Platinum Visa® Secured Credit Card review
Julia Cameron is a writer and editor who has experience in finance, mergers and acquisitions, content marketing and immigration law. She has a passion for interior design and an affinity for Old Florida, where she lives with her family.
Expert review
The Green Dot Platinum Visa® Secured Credit Card is a secured credit card that comes with a fixed APR and a variety of balance payment options. 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.
However, the card comes with a small annual fee, a small fee every time you pay your balance at select retailers and it has no rewards program. Despite that, if you can’t get any other secured card to build your credit, this card may be worth considering.
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:
Review the disclosures, agreement and privacy policy.
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
Yes. You can withdraw cash with your Green Dot Platinum Visa® Secured Credit Card at any ATM. Keep in mind that these withdrawals are considered cash advances and come with a 5% fee and you start accruing interest from the moment you make the transaction.
Download the Green Dot — Mobile Banking app and you can check your balance there.
No. If you want your security deposit refunded, you must pay your balance in full and close your card account.
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.
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.
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?
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.
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.
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.
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.
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 $500 too.
Sorry to hear that you have not received your card yet. You can contact their support team by calling 866-795-7597. You can also reach them via Facebook at Green Dot® Platinum Visa®, on Twitter @greendotcards or on Instagram @greendotcards.
I deposited some money online and now my card is not available and I’m trying to contact a representative but no luck. I have tried and tried a lot of times and I just want my refund if you guys can assist please.
Please note that you have reached Finder, a general information and comparison website. I suggest that you keep getting in touch with Green Dot regarding your refund since we wouldn’t be able to assist you on this matter.
How is this different from a prepaid card? If you deposit 200$ 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?
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.
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