Learn How to Apply for a Self Credit Builder Secured Visa Credit Card

What do You Need to Know Before Applying for the Self Credit Builder Secured Visa Credit Card?

The self-credit builder secured Visa is a credit card designed for those starting their journey in the market and wanting a comprehensive option for everyday use.

Self is a company that works precisely with credit and financial services for the no-score public.

In this sense, the Self Credit Builder Secured Visa is an interesting option for both those seeking their first card and for the public who can’t be accepted by other credit companies.

The process to apply for a card is somewhat different. First, you need to open a Credit Builder account, a process that can be done directly on the Self Inc. online platform.

To be eligible for the card, you need to meet the following requirements:

• Accumulate at least $100 in savings
• Add and keep updated on the income and expense relationship
• Keep the account 100% regularized
• Make at least 3 monthly payments on time

The card works with a savings format, committing at least $25 monthly. The account maintenance values are usually $89 monthly. In turn, the card has an annual cost of $25.

To pay the monthly fee for the Credit Builder account, you can use another debit card with a convenience fee or by depositing into the account.

The important thing is to meet the requirements to be eligible to receive the card, with a minimum limit starting at $100. So, if you need a service like Self, keep reading.

Who can Apply?

First and foremost, the basic requirement to have the Self Credit Builder Visa is to have a valid account for at least 3 months and meet all the conditions to be eligible.

To open a Credit Builder account with Self, you’ll also need to meet some basic prerequisites.

The individual must be at least 18 years old, have valid documents, and have a Social Security number. Thus, those born in the US need to have updated documents.

For foreigners, it’s necessary to have a valid passport and a work and residence visa in the country.

Additionally, you’ll need to provide a certain monthly income, which is important even to establish credit limits.

Self doesn’t require a credit score or credit history, as the focus is precisely on reaching the public with no history.

How do I Apply for the Self Credit Builder Secured Visa Credit Card?

To apply for the card, first, you’ll need to open a Credit Builder account. And the process can be done directly through the Self website.

When you select the option, you’ll be redirected to a form where you’ll fill in basic information such as your full name and email and create a login with a password.

Additionally, you’ll need to provide information such as your Social Security number and phone number, as well as your complete address and income details.

Throughout the process, one may request proofs and copies of documents. After meeting the requirements of three on-time payments and at least $100 in transactions, Self allows the account holder to request a card.

To do so, you’ll need to apply and make the security deposit, also $100, to qualify. It’s worth noting that Self reserves the right to refuse, and even if all requirements are met, you may not be eligible for the card.

More Details

First and foremost, you’ll have a Visa credit card, widely accepted not only in the US but worldwide.

The security deposit for the card is made with funds from the savings account itself, without requiring any extra money from the account holder.

Despite being a card without a credit score or history verification, Self offers the opportunity to increase the limit over time. And the main benefit is precisely to help build credit, as the card is responsible for a significant portion of the individual’s FICO score.

Want to learn about another option?

The FIT Mastercard is another credit card option for those without a credit history, offering the option to double the limit in a short time.

So, if you want to learn more about FIT Mastercard’s services and conditions, see how to apply.

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