Designed with simplicity and purpose, this card allows you to build credit responsibly while offering the flexibility and convenience of a traditional credit card. It’s more than just a payment tool—it’s a stepping stone toward financial freedom.
Unlike traditional credit cards, the Self Credit Builder Secured Visa® ties directly to your Self Credit Builder account, making it accessible even to those with no or limited credit history. With low fees, robust security, and opportunities for financial growth, this card empowers you to take control of your credit journey, one step at a time.
Benefits of the Self Credit Builder Secured Visa®
No Hard Credit Check for Approval: Start your credit journey without worrying about a hard inquiry on your credit report. The Self Credit Builder Secured Visa® is designed for individuals with no or poor credit history, ensuring accessibility for all.
Credit Building Opportunity: Every responsible use of the card is reported to the three major credit bureaus—Equifax, Experian, and TransUnion. This feature ensures that timely payments and responsible credit usage contribute to building your credit score.
No Traditional Deposit Required: Unlike most secured cards, the Self Credit Builder Secured Visa® doesn’t require an upfront deposit. Instead, your credit limit is tied to your Self Credit Builder account savings progress, making it easy to get started.
Low Annual Fee: Paying just a $25 annual fee unlocks a world of credit-building potential without putting a strain on your budget. This minimal cost is designed to help you focus on raising your credit score and achieving financial stability, all while avoiding the higher fees that often come with other credit cards. It’s a small price to pay for a valuable tool in establishing or rebuilding your credit history.
Fraud Protection: With Visa’s Zero Liability Policy, you’re protected against unauthorized transactions, ensuring that any suspicious charges are swiftly investigated and removed from your account. This comprehensive safety net provides peace of mind, letting you make everyday purchases and larger financial decisions without worrying about fraudulent activity or unexpected losses.
User-Friendly Mobile App: Manage your account whenever and wherever you are through the Self app on your smartphone. You can monitor your spending, check your credit-building progress, review upcoming payments, and get insights into your financial habits—all in one convenient place. This streamlined approach makes it easier than ever to stay on top of your finances and maintain control over your credit journey.
Easy Eligibility Requirements: Even if your credit history isn’t perfect, you can still qualify for this card by opening a Self Credit Builder account and meeting the required savings threshold. This straightforward process means you won’t be held back by past financial challenges. Instead, you’ll have a clear path to building or restoring your credit profile, paving the way for better financial opportunities in the future.
Build a Safety Net: The savings you accumulate in your Self Credit Builder account serve as a financial safety net while acting as your card’s security deposit. This dual-purpose feature fosters both credit growth and financial resilience.
Low Credit Limit: The card’s modest credit limit encourages responsible spending, helping you build credit without the risk of overspending or accruing excessive debt.
Automatic Reporting to Credit Bureaus: Your card usage is automatically reported to all three major credit bureaus, ensuring your positive financial habits are reflected in your credit report.
No Overdraft Fees: The Self Credit Builder Secured Visa® doesn’t allow overdrafts, helping you stay within your credit limit and avoid additional fees.
Roadmap to Unsecured Credit: By building your credit with this secured card, you pave the way for future approval of unsecured credit cards, loans, and other financial opportunities.
Who Can Apply?
Eligibility criteria for the Self Credit Builder Secured Visa®:
- Age: Must be at least 18 years old.
- Residency: Must be a U.S. citizen or permanent resident.
- Self Credit Builder Account: Must have an active Self Credit Builder account in good standing.
- Savings Progress: Accumulate at least $100 in your Self Credit Builder account.
- No Outstanding Fees: Ensure all payments with Self are up to date.
How to Apply
- Open a Self Credit Builder Account: Start saving and build your credit simultaneously.
- Meet Savings Requirement: Save at least $100 in your Credit Builder account.
- Apply for the Card: Request the Self Credit Builder Secured Visa® through the Self app or website.
- Receive Your Card: Once approved, your card will be mailed to you.
- Activate and Start Building: Activate your card and begin using it responsibly to build your credit.
Frequently Asked Questions
What is the annual fee?
The annual fee is $25.
How is the credit limit determined?
Your credit limit is based on the amount saved in your Self Credit Builder account, starting at a minimum of $100.
Can I increase my credit limit?
Yes, you can increase your credit limit by saving more in your Self Credit Builder account.
What is the interest rate on purchases?
The card has a standard APR; check your account terms for the exact rate.
