Self Credit Builder Secured Visa Credit Card full review
Gradually and consciously transition from a no-credit status to a balanced and responsible state with the Self Credit Builder Secured Visa.
Discover more about the Self Credit Builder Secured Visa Credit Card
The Self Credit Builder Secured Visa Credit Card was created as a solution to the challenges faced by over 100 million Americans with low or no credit. The idea behind Self came from its founder and CEO, James Garvey, who experienced a decline in his credit score after a mistake with automatic credit card payments. Realizing the catch-22 situation where you need credit to get credit, James decided to create a solution that works regardless of credit history.
Currently, Self has served 2 million Builders and continues to grow. Their focus is on helping individuals achieve their goals, whether it’s becoming a Home Builder, a Queen Builder, a Car Builder, or a Life Builder.
How the Self Credit Builder Secured Visa Credit Card Works
Unlike traditional credit cards, acquiring the Self credit card doesn’t involve an application and approval process. Once you meet the eligibility requirements, you can open a Self Visa Credit Card account. This card allows individuals with financial setbacks to start establishing credit without a credit card.
To be eligible for the Self Credit Builder Secured Visa Credit Card, you need to meet three requirements:
- Make 3 monthly payments on time
- Have $100 or more in savings progress
- Have your account in good standing
By meeting these requirements, you qualify to apply for the Self Credit Builder Secured Visa Credit Card. Your savings progress in the Credit Builder Account secures your credit card and sets your limit. As you make each monthly payment on your Credit Builder Account and keep the account in good standing, you have the opportunity to increase your credit limit.
The Self Visa Credit Card reports to the three major credit bureaus in the U.S., allowing you to gradually improve your credit score and financial condition.
Benefits of the Self Credit Builder Secured Visa Credit Card
As a Visa cardholder, you’ll receive some basic benefits, including:
- ID Navigator Identity Theft Protections: Enroll in this complimentary service from Norton LifeLock to get credit monitoring and assistance if your identity is compromised.
- Cardholder Inquiry Service: Access a Visa representative 24/7 with any account-related questions.
- Lost or Stolen Card Assistance: Report your lost or stolen card anytime, and Visa will work with you and your issuing bank to address the issue.
You can easily manage your Credit Builder Account and Self Credit Card online or through the Self mobile app, available for Android and iOS devices. The Self Credit Builder Secured Visa Credit Card can be used wherever Visa is accepted in the U.S.
The Credit Builder loan is secured by an FDIC-insured certificate of deposit.
Considerations for the Self Credit Builder Secured Visa Credit Card
It’s important to note that the Self Credit Builder Secured Visa Credit Card may be more expensive in the long run compared to other secured cards. The card has an annual fee of $25, which is charged to your Self Visa Credit Card once every 12 months. The first annual fee is due with your first credit card payment.
How to Apply for the Self Credit Builder Secured Visa Credit Card
If you’re interested in Self’s concept and need to build up your credit reputation, click the green button to learn how to apply for the Self Credit Builder Secured Visa Credit Card. The application process is simple and can mark a new beginning in your relationship with money.
