Green Dot primor® Visa® Classic Secured Credit Card Review

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Our Detailed Review of This Card

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Green Dot primor® Visa® Classic Secured Credit Card is a good contender for anyone needing help in rebuilding their credit history. Even though it’s a secured credit card, no one will be able to tell as it looks and functions just like a regular credit card. The card reports your payment history to all 3 credit bureaus, which can assist in rebuilding your credit if you make your monthly payments on time. The annual fee of $39 is reasonable, the $200 minimum deposit is on par with many other secured cards and the ongoing APR is one of the lowest we’ve seen in secured cards. Watch out for the card’s “add on” fees though, which for this card range from a replacement card fee to a credit limit increase fee. Make sure you read your card terms and conditions carefully and know what you might be charged for.

Secured Credit Card

  • Guaranteed by your funds, which act as a “security deposit” in case you default on the loan extended by the credit card company.
  • Security deposit will be refunded in full if your account is up-to-date and paid on time when you close out your card.
  • Looks and works like any other credit card, so it won’t be apparent to others that this is a secured card.
  • You fund the card by depositing from $200 up to $5,000 into a FDIC-insured account.

Helps Credit History

  • Helps boost your credit history by reporting to all three credit bureaus every month so you can establish or rebuild your credit.
  • Looks like any other credit card on the credit reports – there is no indication that you have a secured card.
  • If you make your payments on time, you can help improve your credit score with good payment behavior.

Fees and APR

  • $39 annual fee.
  • Purchase APR: 13.99% Fixed Rate APR.
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Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.