Learn how to apply for the Self Credit Builder Secured Visa Credit Card
Transition from having no credit to developing a balanced and responsible state by utilizing the Self Credit Builder Secured Visa.
How to Obtain the Self Credit Builder Secured Visa Credit Card
The Self Credit Builder Secured Visa Credit Card is specifically designed to help individuals with bad or no credit build credit responsibly. Getting this card is a straightforward process, making it an excellent tool for establishing a strong credit foundation.
Throughout this journey, the card aims to guide and encourage responsible financial behavior. It focuses on three key credit factors that contribute to 75%* of your credit score: the amounts owed, the average age of accounts, and payment history.
An additional cash advance requirement is not necessary for using the Self Credit Builder Secured Visa Credit Card as the progress you make in your Credit Builder Account secures the card and sets your credit limit.
With good standing, there may be opportunities to increase your credit limit over time.
The Self Credit Builder Secured Visa Credit Card is a secured credit card that does not require a hard credit check. It can be used anywhere in the U.S. where Visa credit cards are accepted.
Eligibility for the Self Credit Builder Secured Visa Credit Card
The Self Credit Builder Secured Visa Credit Card is an appealing option for individuals with bad or no credit who want to build credit. While there are other secured cards available with no annual fees or rewards, qualifying for the Self Credit Builder Secured Visa Credit Card is often easier than for these alternatives.
If you are seeking to rebuild your credit after a job loss or a financial setback, consider applying for the Self Credit Builder Secured Visa Credit Card, which is specifically designed for such situations.
Application Process for the Self Credit Builder Secured Visa Credit Card
First, you need to apply for a Credit Builder Account, which can be done through Self’s website. After opening your Credit Builder Account, you must meet these three eligibility requirements:
- Make 3 monthly payments on time.
- Have $100 or more in savings progress.
- Maintain an account in good standing.
Once you meet these criteria, you can choose the portion of your savings progress (minimum $100) to secure your card and set your credit limit.
After setting your limit, confirm the correct shipping address for your card and place your order.
Once you receive your card in the mail, activate it to start using it wherever Visa credit cards are accepted in the U.S.
From this point forward, monitor your spending activity closely and strive to make timely and full payments.
Benefits of Having the Self Credit Builder Secured Visa Credit Card
Individuals who are looking to build credit for the first time or rebound from previous financial mistakes will find a valuable ally in the Self Credit Builder Secured Visa Credit Card.
Building credit is a gradual process that requires patience and consistency. Take control of your credit today by practicing responsible financial habits.
Comparison: Self Credit Builder Secured Visa Card vs. Fit Mastercard Card
The Fit Mastercard Card, like the Self Credit Builder Secured Visa Card, is designed to help individuals rebuild their credit. However, Fit Mastercard Cardholders may encounter various fees that can increase their balance and decrease their credit limit.
Unlike many other credit cards, the FIT Mastercard Credit Card has a higher variable APR of 29.99% on purchases and does not offer a 0% introductory APR promotion. Additionally, it does not provide any sign-up bonuses or rewards on purchases.
Here are the fees associated with the Fit Mastercard Card:
| Fees | Amount |
|---|---|
| Annual Fee | $99 (Annual fees vary by year) |
| Foreign Transaction Fee | 3% |
| Returned Payment Fee | up to $40 |
| Late Payment Fee | up to $40 |
Overall, for individuals aiming to rebuild their credit, the Self Credit Builder Secured Visa Card is a better option due to its lower fees.
If you require a higher credit limit within a relatively short period, the Fit Mastercard Card might be a suitable alternative.
Pros of Self Credit Builder Secured Visa Card:
- You can choose your credit limit.
- No hard credit check is required.
- Caters to individuals with bad or no credit.
Pros of Fit Mastercard Card:
- Potential credit limit increase within six months (maximum limit of $2,000).
- Low eligibility requirements: Consumers with bad or no credit may qualify for this card.
- Enjoy peace of mind with Mastercard Zero Liability Protection.
Want to learn more about the Fit Mastercard Card? Click the green button below to check it out.
