2021 Review: Green Dot primor® Secured Visa® Platinum Card – A Rocky Road Forward
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Our Rating: 2 Out of 5 Stars
We give the Green Dot primor® Secured Visa® Platinum Card two out of five Stars. While it provides a way to establish or repair credit, we’ve received multiple reports of poor customer service. Therefore, we recommend you take a look at other options.
Why We Like It
- Provides a way to build positive credit
- No credit check to apply, so there’s a relatively good chance of approval and no hard inquiry
Why It Could Be Better
- Reports of poor customer service
- It has an annual fee
- No credit monitoring tool
- Few benefits or travel/shopping protections
The Green Dot primor Secured Visa Platinum card was created to help establish or repair your credit, following an initial, refundable security deposit.
Building credit is the singular focus of this card. As such, there are no rewards, and it’s hard to say what benefits you’ll get.
We’ve also received reports of subpar customer service, so you may wish to check out other secured card options before deciding this is the one for you.
Read on to learn more.
Insider Advice: Getting the Most Out of Your Card
- Practice makes perfect: Pay your bill on time, try not to carry a balance, and build responsible habits to create a positive credit history.
- Deposit as much as you can: Put down as much as you’re able when making your initial deposit. You’ll have peace of mind knowing you have a larger line of credit backing you up, and it can be better for your credit utilization (and credit scores) too.
- Move on to bigger and better things: When your credit has shaped up, check out some other cards on the market. There are rewards cards, travel cards, and cards with 0% APR offers, each one able to benefit you in different ways.
- Get your deposit back: Once you’re ready to move on, pay off your balance in full and close out your credit card account to get your deposit back.
Because this is a secured credit card, you’ll be required to make a one-time, refundable security deposit that will form your starting credit limit.
The minimum deposit you can make is $200, up to a max of $5,000 (depending on your creditworthiness). You can also request to increase your credit limit beyond what you initially provided, by depositing additional funds.
You can make this deposit in a few ways:
- Debit card
- Mail-in check or money order
- A transaction at over 90,000 retail stores
Should you choose to deposit via debit card, your credit line will be available within one business day. If you choose to make your deposit at a retail store, it should be available within minutes.
If you mail in your check or money order, either for your full deposit or to tack on to one you’ve already made, expect it to take up to 10 days from when your payment has been received.
Lastly, there might be a fee of $4.95 for depositing at a store, and some stores may have a $500 limit. But you can mail a check or money order to make up the difference, if you like.
You’ll have 60 days after you’re approved for the card to make your deposit. If you don’t, you’ll have to reapply.
We recommend depositing as much as you’re able. Having a higher credit line is much more useful than having a lower one. You’ll worry less about declines when making larger purchases, knowing you have a sizable line of credit backing you up. Having a larger line of credit can also help keep your credit utilization low. Lower utilization can lead to less of a negative impact on your credit scores.
To get your deposit back, you’ll need to pay your entire balance and close your credit card account.
There are other cards on the market that could help you rebuild credit, if this card doesn’t do it for you. You can see some of our favorites right here.
You may receive some basic Visa benefits with your card. But the card issuer doesn’t explicitly state which benefits those will be, so we can’t definitively say what you will or will not have.
You could get some combination of travel and shopping protections, but it’s hard to say for sure. You can see some of the benefits Visa cards provide here.
The Terms & Fees
|Purchase APR||Balance Transfer APR||Cash Advance APR|
|19.99% Fixed||None||19.99% Fixed|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|None||5%, $5 minimum|
|Penalty APR||Late Fee||Returned Payment Fee|
|None||Up to $27||Up to $27|
There’s really not much to see here, aside from the annual fee. You won’t be able to make any balance transfers, and there’s a foreign transaction fee so you won’t want to use this card if you’re going to be traveling out of the country.
The Bottom Line
As far as secured cards go, you could probably do better than the Green Dot primor® Secured Visa® Platinum Card.
While it can help you establish positive credit, there are better cards out there with more favorable terms. The customer service isn’t great, it offers little in the way of benefits, provides no rewards, and has an annual fee.
There are cards available for bad credit (both secured and unsecured) with no annual fee that can help repair credit. They can also provide stronger customer service, useful benefits including ways to monitor your credit scores, and reward programs. Therefore, it’d be best to look at all your available options before settling on this one — see some solid alternatives below.
How Do I Apply for the Green Dot primor Secured Visa Platinum Card?
Just hit the Apply Now button for the Green Dot primor Secured Visa Platinum. You’ll be directed to the card issuer’s website, where you can securely apply. You’ll typically hear back pretty quickly whether or not you’ve been approved.
What Credit Scores Do You Need for the Green Dot primor Card?
However, that doesn’t mean everyone will make the cut. If there’s some issue with your application, like some of the information not being sound, you may not be approved.
Qualifications and Requirements
- Must be 18 to apply (19 in AL and NE; 21 in MS)
- Security deposit of $200–$5,000: By debit card, mail-in check or money order, or retail store transaction
- Personal information: Name, date of birth, Social Security number
- Address and contact information: Home address, phone number, email address
- Financial information: Monthly income and monthly expenses
Frequently Asked Questions
How much will I need for the security deposit?
You can deposit anything from $200–$5,000, depending on your creditworthiness, which will form your initial credit line.
Can I increase my credit line?
Yes, you can request on Green Dot’s site to increase your line of credit. However, you’ll be required to make another deposit to do so.
Do I have to make my deposit right away?
No, you’ll be required to make your deposit within 60 days after you’re approved. Otherwise, you’ll have to reapply.
How do I make my security deposit?
You can make your security deposit with a debit card, a mail-in check or money order, or by making a transaction at a retail store.
Is my Green Dot primor Secured card security deposit refundable?
Yes, you’ll need to pay off your balance in full and close your credit card account in order to get your deposit refunded. If you need further information, here’s an in-depth explanation of the security deposit.
Need some tips about paying your credit card? Take a look at our guide.
The Green Dot primor Secured Visa Platinum is a secured card, meaning it requires an initial deposit. It’s designed to help establish positive credit, and that’s about all it does. However, we’ve received multiple reports of poor customer service, and recommend you choose a different card.
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