If you have poor credit, you may find yourself in precarious circumstances. If you do not have credit card, you will need to carry cash with you at all times to be able to make purchases on a day-to-day basis. This might be a challenging truth to face, particularly given the growing number of establishments that will only take plastic. However, secured credit cards may be an excellent approach to allow you to make purchases while also enabling you to boost your credit score.
Primor Visa Gold Secured Credit Card is a great illustration of a secured credit card that may help you improve your credit score while assisting you with transactions such as making hotel reservations or automobile rentals. This card is one that you should consider if you are working to repair your credit since it offers a low purchase APR and a substantial credit limit that will enable you to make significant purchases if you want.
Who Should Get This Card?
If you need to develop or repair your credit score and wish for a substantial credit limit for forthcoming purchases, primor Secured Visa Gold Card may be an excellent choice. The bank holds this deposit if you do not fulfill your financial obligations. This lowers the bank's overall financial risk, enabling it to provide a line of credit to you despite your poor credit score.
If you have credit that isn't quite up to par, but want to improve it, getting a primor Secured Visa Gold Card might be useful. You may show the credit agencies that you are dependable by always paying your payments on time if you use a secured credit card wisely and spend within your means. Your credit score will gradually go up as soon as you provide evidence of this.
If you improve your credit history, you will ultimately be able to apply for unsecured credit cards. These are more likely to give you opportunities to earn cash back, travel rewards, and other beneficial perks. If you find yourself in a position where you need to carry a balance on your card, primor Secured Visa Gold Card offers a competitively low-interest rate.
Top rewards
No minimal requirements
This card does not need any minimum credit score to be approved. You should not be refused because of your credit, whether you have low credit due to problems on your credit reports or have no credit history. According to the official policy of Green Dot, acceptance is predicated on the successful verification of your identity and address as well as the successful financing of the card's security deposit.
Flexible credit limits
The amount of your security deposit will determine your credit limit, and you can deposit anything between $200 and $5,000. This flexibility is beneficial since it allows you to either pay a larger amount upfront in exchange for a greater credit limit or pay a lower amount if you do not have a significant amount of savings. Your credit score may be improved by maintaining a low percentage of your available credit when you have a larger limit.
A low and stable APR
The APR offered by the Primor® Visa Gold Secured Card by Green Dot is among the most competitively priced among all credit cards. It also provides a fixed rate as opposed to the variable rates typical of credit cards, which means that your APR cannot change without prior notification from the card issuer.
They Are Sometimes Used As Stepping Stones to More Desirable Cards
As many ordinary credit cards do, Green Dot transmits your credit card activity to the three major credit agencies. This enables you to establish or improve your credit history. As you continue to make payments on time, you will increase your chances of being approved for better credit cards, defined as standard unsecured products that do not need a deposit. In addition, some cards may not have an annual fee, and/or they might come with perks.
On the other hand, you won't be able to "upgrade" to a product like this with Green Dot since the firm doesn't provide any unsecured credit cards. You are free to file applications for one with another issuer, but if you wish to get your Green Dot deposit back and stop paying the annual fee, you will be compelled to close your Green Dot account. This is the only way to accomplish these goals.
