Self Credit Builder Secured Visa Credit Card full review
With Self Credit Builder Secured Visa, consciously and gradually you move from a no-credit situation to a balanced and responsible condition.
Learn more about the Self Credit Builder Secured Visa Credit Card
The idea behind Self came from a real problem faced by its founder, CEO James Garvey. He founded Self in 2015 after making a mistake with automatic payments on his credit card. By the time he caught it, his credit score had tanked. In searching for a way to rebuild his credit, he saw some of the challenges faced by the more than 100 million Americans with low or no credit.
“To get credit, you need to have credit. It’s a catch-22, and the system is set up against you,” James says. So he created a solution that works regardless of your credit history. And that’s the idea of the Self Credit Builder Secured Visa Credit Card.
Today, Self has 2 million Builders served and counting. The bank states: “Instead of dwelling on scores, we focus on what you aspire toward. Whether it’s being a Home Builder, a Queen Builder, a Car Builder, or a Life Builder, Self is here to help you make it possible.“
So, let’s get to know the Self Credit Builder Secured Visa Credit Card in more detail.
How Self Credit Builder Secured Visa Credit Card works
Getting access to the Self credit card is different from other credit cards. There is no application and approval process, Once you meet the eligibility requirements, you are able to open the Self Visa Credit Card account. It allows people with a history of financial missteps to start establishing credit without a credit card.
But let’s start from the very beginning, assuming a context of financial setbacks until the acquisition of the elf Credit Builder Secured Visa Credit Card.
So the first thing you are going to do is to open a Credit Builder Account and meet Self’s eligibility requirements, which are three:
- Make 3 monthly payments on time
- Have $100 or more in savings progress
- Have your account in good standing
By doing so, you qualify to apply for the Self Credit Builder Secured Visa Credit Card. Is simple as that. Basically, all you need to do is to keep control of your financial life. This is the whole idea behind Self Credit Builder Secured Visa Credit Card.
Your Credit Builder Account savings progress secures your Self credit card and sets your limit. You will have the opportunity to increase your credit limit as you make each monthly payment on your Credit Builder Account and keep the account in good standing.
Self Visa Credit Card reports to the three major credit bureaus in the U.S.
And this is how with Self Credit Builder Secured Visa Credit Card, consciously and gradually, you move from a no-credit situation to a balanced and responsible financial condition.
Some benefits of Self Credit Builder Secured Visa Credit Card
As a Visa card, you’ll get some basic cardholder benefits which include:
- ID Navigator Identity Theft Protections: Enroll in this complimentary service from Norton LifeLock and get credit monitoring and assistance if your identity is compromised.
- Cardholder Inquiry Service: Get 24-hour access to a Visa representative with any questions about your account.
- Lost or Stolen Card Assistance: You can report your lost or stolen card 24 hours a day seven days a week. Visa will work with you and your issuing bank as needed to put a hold on your missing account, issue a replacement card and/or arrange for an emergency cash disbursement.
Easily manage your Credit Builder Account and Self Credit Card online or through the Self mobile app, available for Android and iOS devices. You can use your secured card where Visa is accepted in the U.S.
The Credit Builder loan is secured by an FDIC-insured certificate of deposit.
Are there any drawbacks to this card?
Self Credit Builder Secured Visa Credit Card can be more costly in the long run than some other secured cards, so pay attention to that.
The Self credit card annual fee is $25, and it gets charged to your Self Visa Credit Card once every 12 months. The first annual fee will show up on your first credit card statement with Self and is due with your first credit card payment.
Would you like to know how to apply for the Self Credit Builder Secured Visa Credit Card?
If you like Self’s concept and need to build up your credit reputation, tap on the green button and see how to apply for your Self Credit Builder Secured Visa Credit Card. The application process is easy and can mark a new beginning in your relationship with money.