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Looking to establish or rebuild your credit in 2025? The secured Self Visa® Credit Card could be the smart, practical solution you’ve been searching for. Designed for individuals with little to no credit history—or those aiming to repair past credit mistakes—this card offers a straightforward path to financial empowerment. With no hard credit check, flexible deposit options, and credit-building tools backed by Self’s trusted platform, it’s more than just a credit card—it’s a stepping stone toward stronger financial health. In this guide, we’ll break down how the secured Self Visa® Credit Card works, its key features, and how it can help you build a better credit future.
How The Secured Self Visa® Credit Card Works
The secured Self Visa® Credit Card operates through a distinctive integration with a Credit Builder Account, creating a structured path toward credit establishment. This secured credit card requires a minimum security deposit of $100, which serves as collateral. The innovative aspect lies in the mandatory Credit Builder Account connection, where cardholders must demonstrate responsible financial behavior through three consecutive monthly payments.
Account activity receives comprehensive reporting to Equifax, Experian, and TransUnion, establishing a documented credit history. After six months of responsible card usage, cardholders may qualify for unsecured credit limit increases without additional deposit requirements.
Costs and Fees Breakdown
The fee structure follows a transparent model. The first year comes with no annual fee, followed by a $25 charge in subsequent years. Purchases carry a variable APR of 28.24%, positioning this card in the higher interest rate category for secured credit products.
Additional fees include:
- Late payment penalties up to $15
- Returned payment charges up to $15
- Expedited payment processing fee of $3.50 when using a debit card
Qualification Requirements
Securing approval requires meeting specific criteria through the Credit Builder Account:
- Completion of three consecutive on-time monthly payments
- Accumulation of $100 minimum savings
- Maintenance of good account standing
- Satisfactory income and expense verification
- No outstanding fees on the Credit Builder Account
Benefits and Limitations
The primary advantage centers on accessibility, with no hard credit check requirement during the application process. The low entry barrier of a $100 minimum security deposit makes the card financially accessible to many consumers seeking credit improvement opportunities.
Notable limitations include:
- Annual fee implementation after the first year
- Absence of a rewards program
- Extended waiting period for card acquisition
Application Process Guide
The application journey begins with opening a Credit Builder Account. Prospective cardholders must:
- Complete the Credit Builder Account application
- Establish payment history over three months
- Maintain required savings threshold
- Submit necessary income documentation
- Meet ongoing account requirements
Making the Most of the Secured Self Visa® Credit Card
Maximizing the card’s credit-building potential requires strategic management:
- Maintain credit utilization below 30%
- Schedule automatic payments to ensure timeliness
- Monitor credit reports regularly through provided tools
- Focus on consistent payment history
- Plan for potential graduation to unsecured credit products
The path toward improved creditworthiness depends on responsible usage patterns and adherence to payment schedules. Regular account review and proactive management support progress toward credit improvement goals.
Smart Credit Building Strategies
Your journey to better credit doesn’t have to be complicated. The secured Self Visa® Credit Card offers a structured approach that, when used responsibly, can help establish or rebuild your credit profile. Consider your financial goals and commitment level before applying, and remember that consistent, on-time payments are your best allies in credit building.
The secured Self Visa® Credit Card is issued by Lead Bank, First Century Bank, N.A., each Member FDIC.
Qualification for the secured Self Visa® Credit Card is based on meeting eligibility requirements, including income and expense requirements and establishment of security interest. Criteria subject to change.
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