Secured Credit Card for Credit Building: Secured Self Visa® Credit Card
Introduction
Poor credit or no credit can hinder a variety of financial endeavors. The Secured Self Visa® Credit Card offers a solution to establish or rebuild your credit. Previously exclusive to Self credit-builder loan customers, the card is now widely accessible.
Benefits
* No credit check required
* Credit activity reported to three major credit bureaus
* Minimum security deposit of $100, fundable via bank account, debit card, or Self Credit Builder Account
Target Audience
Individuals with less-than-stellar credit, representing approximately 29% of Americans.
Card Features
* Annual fee: $25
* Welcome offer: None
* Purchase APR: 28.24% variable
* Recommended credit score: No credit history required
* Rewards rate: None
* Security deposit can be used to qualify for higher credit limit or unsecured credit card within six months
Pros
* No credit check
* Low security deposit
* Positive customer reviews and highly-rated mobile app
* Security deposit fundable with Self Credit-Builder Loan
* Free credit scores and credit monitoring
Cons
* Annual fee of $25
* No rewards program
* Higher-than-average APY
* Maximum credit limit of $3,000
* Outdated online FAQs
Usage and Customer Service
* Accepted anywhere Visa is accepted in the U.S.
* Phone: Monday to Friday, 7 a.m. - 6 p.m. CST
* Chat: 7 days a week, 7 a.m. - midnight CST
* Phone number: 1-877-883-0999
Alternative Card Options
* Capital One Quicksilver Secured Cash Rewards Credit Card: No annual fee, higher security deposit, but cash back rewards
* Capital One Platinum Secured Credit Card: No annual fee, low security deposit, no rewards
* OpenSky® Secured Visa® Credit Card: No credit check, higher annual fee, but cash back rewards through OpenSky Rewards program
Disclaimer
This article presents information for informational purposes only and does not constitute financial advice or a guarantee of credit approval. The details on financial products, including card rates and fees, are subject to change.