2021 Review: Green Dot primor® Secured Visa® Platinum Card – A Rocky Road Forward
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Green Dot primor® Secured Visa® Platinum Card
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.
- Min. credit levelLimited Credit History
- Annual Fee$39
- Regular APR19.99% Fixed
- Credit lines available from $200 to $1,000
- Fixed 19.99% interest rate on purchases
- No minimum credit score requirements
- Helps strengthen your credit with responsible card use by reporting to three national bureaus
A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.
- Intro Balance Transfer APRN/A
- Regular Balance Transfer APRN/A
- Balance Transfer FeeN/A
- Penalty APRN/A
- Late FeeUp to $27
- Returned Payment FeeUp to $27
- Additional Cards Annual FeeN/A
- Foreign Transaction Fee3%
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.
Security Deposit
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.
Insider tip
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.
The Benefits
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 |
|---|---|
| $39 | 3% |
| 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?
You don’t need any particular credit scores to qualify for the Green Dot card, because there’s no credit check required for approval. Some other cards have the same feature, but it is fairly unique.
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
A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.
How to Transfer a Balance on a Credit Card
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.
You can find a store to make your deposit using Green Dot’s site, and check out our detailed explanation about how the security deposit works.
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.
Alternatives to the Green Dot primor Secured Visa Platinum Card
The Discover it® Secured (Review) is one of the more rewarding secured cards on the market.
The minimum initial security deposit you can make here is $200, while the max is $2,500 (depending on your creditworthiness). Your credit line will be equal to your deposit.
That’s less than the $5,000 maximum credit limit the Green Dot Platinum offers, but the Discover card is pretty rewarding, even by unsecured card standards. There’s also no annual fee for you to worry about.
Additionally, you’ll get a few more benefits with this card, and be able to check your FICO Score 8, based on your TransUnion credit report. But, anyone is able to access Discover’s credit monitoring tool, not just cardholders, so if you get the Green Dot card you can still use this service.
| Spending Rewards |
|---|
|
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| Introductory Bonus Offer |
|---|
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- FICO Credit Scorecard: Access your FICO Score 8 whenever you’d like for free, based on your TransUnion credit report.
- Free Social Security number alerts: Discover searches for your Social Security number on thousands of risky dark web sites and will alert you if your information was compromised.
- New account alerts: Get notified of credit inquiries and new accounts on your Experian credit report.
- Cash at Checkout: At eligible retailers you can get cash at checkout. The extra cash will be counted as part of your purchase.
- Refer a Friend bonus: Earn a $50 statement credit bonus for every friend you refer who’s approved, up to 10 friends per year. If your friend makes a purchase within three months of opening the account, he or she will earn a $50 bonus too.
- Security deposit: $200–$2,500
- Purchase APR: See Terms
- Balance Transfer APR: See Terms for See Terms, then See Terms
- No foreign transaction fee
- Annual fee: $0
OpenSky® Secured Visa® Credit Card
Details
securely on the issuer's website
The OpenSky® Secured Visa® Credit Card (Review) is a secured card that, like the Green Dot card, requires no credit check.
Also like the Green Dot card, you’ll need to make a refundable security deposit. The maximum credit limit here is $3,000, so it’s a bit less than the $5,000 limit of the Green Dot primor Platinum. The minimum you can deposit is $200, and whatever amount you provide will form your starting credit limit.
The benefits you can expect are probably on par with the Green Dot card’s Visa Platinum benefits, but it’s hard to say for sure what they will be.
The main draw of this card is how easily accessible it is, providing another route for you to take on your credit building journey.
The card issuer states the OpenSky Visa comes with “all the benefits of a Visa card,” but doesn’t explicitly list those benefits aside from mentioning fraud protection and global acceptance.
- Security deposit: $200–$3,000
- Purchase APR: 17.39% Variable
- Annual fee: $35
- No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
- The refundable* deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
- Build credit quickly. OpenSky reports to all 3 major credit bureaus.
- 99% of our customers who started without a credit score earned a credit score record with the credit bureaus in as little as 6 months.
- We have a Facebook community of people just like you; there is a forum for shared experiences, and insights from others on our Facebook Fan page. (Search “OpenSky Card” in Facebook.)
- OpenSky provides credit tips and a dedicated credit education page on our website to support you along the way.
- *View our Cardholder Agreement located at the bottom of the application page for details of the card.
Secured Mastercard® from Capital One
Details
securely on the issuer's website
The Secured Mastercard® from Capital One (Review) has no annual fee and was created with the goal of rebuilding credit.
The security deposit is a bit different with this card, as you’ll be asked to make a deposit of one of three amounts from a valid bank account:
- $49
- $99
- $200
Despite what you’re asked to put down, your starting line of credit will be $200. You can, however, pay more to increase it, up to a max of $1,000. And, after six months, Capital One may choose to upgrade you to a higher credit line, without requiring another deposit.
While the maximum credit limit is lower than that of the Green Dot, you may be granted a higher credit line without having to make an additional deposit — a handy feature for any secured card.
- Access a higher credit line: You may be automatically considered for a higher credit line after six months.
- Capital One CreditWise: The Capital One CreditWise service lets you monitor your VantageScore 3.0 credit score, based on your TransUnion credit report. This is a great feature to have because it gives you a way to track your progress as you improve your credit, which is one basic goal of a secured card.
- Mastercard ID Theft Protection: Get help if your identity is compromised, at no cost.
- No foreign transaction fee
- Annual fee: $0
- No annual or hidden fees. See if you’re approved in seconds
- Building your credit? Using the Capital One Secured card responsibly could help
- Put down a refundable security deposit starting at $49 to get a $200 initial credit line
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
- Monitor your credit with CreditWise from Capital One. It’s free for everyone and checking your credit does not hurt your credit score
Capital One Platinum Credit Card
Details
securely on the issuer's website
The Capital One Platinum Credit Card (Review) is an unsecured card for people with limited credit history.
Because it’s unsecured, you won’t need to make an initial deposit, but you may need to have a bit more of a credit history built up compared to secured cards. It’s still designed to help build credit, which means you’ll probably start with a fairly low credit limit, but after six months, Capital One may automatically review your credit card account to see if you’re eligible for an increase.
You’ll also get more shopping and travel protections than the Green Dot card, without having to worry about an annual fee.
- Higher credit line: You may be automatically considered for a higher credit line after six months.
- Capital One CreditWise: The CreditWise service provides free access to one of your VantageScore 3.0 credit scores, based on your TransUnion credit report. You can monitor your score over time and get alerts about any changes. Anyone can enroll in the CreditWise service, cardholder or not.
- No foreign transaction fee
- Annual fee: $0
- Pay no annual fee
- Be automatically considered for a higher credit line in as little as 6 months
- Fraud coverage if your card is lost or stolen
- Use online banking to access your account, even from your smartphone, with our mobile app
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
- Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you
- Get access to your account 24 hours a day, 7 days a week
- Help build your credit through responsible use of a card like this
- Min. credit levelLimited Credit History
- Annual Fee$39
- Regular APR19.99% Fixed
- Credit lines available from $200 to $1,000
- Fixed 19.99% interest rate on purchases
- No minimum credit score requirements
- Helps strengthen your credit with responsible card use by reporting to three national bureaus
A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.
- Intro Balance Transfer APRN/A
- Regular Balance Transfer APRN/A
- Balance Transfer FeeN/A
- Penalty APRN/A
- Late FeeUp to $27
- Returned Payment FeeUp to $27
- Additional Cards Annual FeeN/A
- Foreign Transaction Fee3%
Do you use the Green Dot primor Secured Visa Platinum Card? Has it had an impact on your credit scores? Let us know in the comments!
Read more Best Credit Cards for Bad Credit
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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