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Green Dot primor® Visa® Classic Secured Credit Card

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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

Snapshot

Image of Green Dot primor® Visa® Classic Secured Credit Card

Green Dot primor® Visa® Classic Secured Credit Card

Rewards rate

N/A

Annual fee

$39

Intro offer

N/A
Info

Regular APR

13.99% (Fixed)

Recommended Credit Score

No Credit History
Info

The information about the Green Dot primor Visa Classic Secured Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Green Dot primor® Visa® Classic Secured Credit Card Overview

Another in a line of secured cards issued by FDIC-insured Green Dot Bank, based in Pasadena, California, the Green Dot primor® Visa® Classic Secured Credit Card rivals its cousin, the Green Dot primor® Mastercard® Gold Secured Credit Card, in offering a low-interest option to consumers who don’t have many.

What are the advantages and disadvantages?

Pros

  • Checkmark

    This card has a fixed annual percentage rate of 13.99 % for purchases – a good rate for a secured card and better than many unsecured cards.

  • Checkmark

    There are no credit score requirements for approval.

Cons

  • Unlike some other secured credit cards, there’s no option to “graduate” to an unsecured card with good payment behavior.

  • There are no rewards or sign-up bonuses with this card.

  • This card charges a 3% foreign transaction fee.

  • There is no opportunity to transfer a balance from a high-interest card.

A deeper look at the current card offer

As far as secured credit cards go, the Green Dot primor Visa Classic Secured Credit Card isn’t terrible. It offers a good fixed interest rate and a fairly low annual fee. But this is the type of card you get when you have few other choices.

There’s no application fee, and with regular on-time payments, you can boost your credit score because this card reports to all three of the major credit bureaus.

The main requirement is opening a savings account with Green Dot Bank and depositing an amount from $200 to $5,000. Your credit line will equal the amount you deposit.

The major drawback here is the annual fee, which is $39. That’s better than the gold card, but there are no-fee options available. You should consider those first.

Fees and APR

  • You’ll pay a $39 annual fee, that’s slightly lower than the fee on the gold card.
  • This card has a fixed APR of 13.99%, which is rare. There aren’t too many fixed rate cards available today.

Other cardholder perks

Unlike most credit cards, the interest rate on Green Dot primor Visa Classic Secured Credit Card is fixed so you won’t be subject to any rate increases as with variable rate credit cards.

You cannot earn rewards on this card.

Is the Green Dot primor® Visa® Classic Secured Credit Card worth it?

If you need a credit card, but don’t qualify for an unsecured one the Green Dot primor Visa Classic Secured Credit Card can help you boost your credit ratings with regular on-time payments.

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.