Credit Cards » Credit Card Reviews » Green Dot Primor Visa Gold Secured Card Review 2023
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Green Dot Primor Visa Gold Secured Card Review 2023

The Green Dot card’s main purpose is to help consumers rebuild or build their credit and reports your payments to all 3 major credit bureaus.
Author: Andrew O'Malley
Andrew O'Malley

Writer, Contributor

Experience

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
Interest Rates Last Update: September 20, 2023
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Andrew O'Malley
Andrew O'Malley

Writer, Contributor

Experience

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
Interest Rates Last Update: November 1, 2023

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Green Dot primor® Visa® Classic Secured
Green Dot Primor Visa Gold Secured Card Review

Rewards Plan

None

Sign up Bonus

None

Credit Rating

Poor – Fair

0% Intro

None

Annual Fee

$39

APR

13.99% (Fixed)
Green Dot primor® Visa® Classic Secured
Green Dot Primor Visa Gold Secured Card Review

Rewards Plan

None

Sign up Bonus

None

0% Intro

None

PROS

CONS

APR

13.99% (Fixed)

Annual Fee

$39

Balance Transfer Fee

Unknown

Credit Requirements

Poor - Fair

The Green Dot primor® Visa® Classic Secured Credit Card is a secured credit card for those looking to build or repair their credit history. The card is issued by First Choice Bank, which is a newer regional bank founded in 2007. 

Cardholders then use the card just like any credit card, and the deposit cannot be used for the monthly payment. The deposit is refundable. The card is issued by Visa and is widely accepted, meaning the card can be used anywhere Visa is accepted. 

The card can be used by anyone in the US, but potential cardholders will need to make a savings deposit with First Choice Bank to open the Green Dot Primor Visa Gold Secured Credit card. The minimum is $200 and maximum is $5,000.  

  • No Credit Check
  • Low APR & No Penalty
  • Deposit in a Savings Account
  • Easy Approval
  • Reports to Bureaus
  • Low Starting Deposit
  • Delayed Accrued Savings
  • No 0% APR Introductory Rate
  • No Rewards
  • Delayed Withdrawal
  • Foreign Transaction Fee
  • Annual Fee & Other Fees
  • Better Options for Building Credit

In This Review..

Benefits

Let’s take a look at the benefits of the Green Dot Secured card and see if it’s the right one for your wallet or not.

Green Dot Primor Visa Gold Secured Credit card allows potential cardholders to apply for the card without a credit check. Applying for the card will not affect your credit.

Green Dot Primor Visa Gold Secured Credit card rate is 13.99% (Fixed) , which is way below the average credit card on the market. This is due to the fact that the card is secured by your cash. If you think you are going to carry balances, this is the card to use. 

Also, Green Dot Primor Visa Gold Secured Credit card does not have a penalty interest rate if you are late. Many credit cards on the market will jack up your interest rate if you are late or delinquent. 

Green Dot Primor Visa Gold Secured Credit card funds are deposited in a savings account that is FDIC insured and earns a small amount of interest. 

If your income is at least $100 more than your expenses, you’re almost guaranteed approval. There is no credit check and a simple application process. 

Even with terrible or no credit history, you will be approved. The card is issued after an initial deposit into a savings account.

Green Dot Primor Visa Gold Secured Credit card is designed for those with limited or poor credit, so it is a benefit that it reports to all three of the major credit bureaus. 

Make all payments on time if you want to build your credit. This will help the cardholder build a credit history.

Green Dot Primor Visa Gold Secured Credit card allows for a deposit of just $200. If you are looking to rebuild credit and do not have a lot of money, you can start with just $200 with the Green Dot card. You can also build your credit limit with depositing more money. The limit is raised in $50 increments.

Drawbacks

Here are the most important cons you should consider before apply:

Cardholder must deposit money in a savings account to get the Green Dot Primor Visa Gold Secured Credit card, but unlike many savings accounts that payout increases once a month you have to wait 12 months for the savings to be deposited in your account.

Green Dot Primor Visa Gold Secured Credit card does not offer an introductory rate like many cards on the market. 

If you need or are looking for an introductory rate you will have to look at other offerings. It makes sense that they do not offer this because you need to secure the card with your money first.

Many cards on the market offer rewards for spending, such as cashback rewards, points, or travel rewards. 

The Green Dot Primor Visa Gold Secured Credit card does not offer any rewards. Its main purpose is to help consumers rebuild credit.

If you would like to withdraw cash from your security deposit it will take time and require the bank’s approval.

Green Dot Primor Visa Gold Secured Credit card has a 3% foreign transaction fee. If you want to avoid this fee, leave this card at home when traveling abroad for one that does not have a fee. 

Green Dot Primor Visa Gold Secured Credit card has a $39 annual fee for cardholders. That is high for a secured credit card. It may be lower than many cards on the market, but most cards on the market with an annual fee have rewards and cash back bonuses.

There are dozens of other products and services that help borrowers build credit. Many of these options are cheaper. There are secured credit cards that do not have annual fees, but may have higher interest rates.

How To Apply For Green Dot Primor Visa Gold Secured Card?

Visit the Green Dot Primor Visa Credit Card homepage and click “Apply Now.”

Green Dot Primor Visa Gold Secured Card_Open an account

This takes you to the next page, where you should fill in your “Personal Information” such as your Names, date of birth, etc.

Green Dot Primor Visa Gold Secured Card_Open an account

Then you’ll need to fill some financial info about yourself, such as income and social security number.

Green Dot Primor Visa Gold Secured Card_Open an account

Lastly, ensure you read through the agreement to know your eligibility, fees, costs, rates, etc.

Green Dot Primor Visa Gold Secured Card_Open an account

Then click on “Continue” to complete the process.

Green Dot Primor Visa Gold Secured Card_Open an account

Is the Green Dot Secured card Right for You?

The Green Dot Primor Visa Gold Secured Credit card’s main purpose is to help consumers rebuild or build their credit. This card is secured by a refundable deposit which determines the cardholder’s credit line.

This can be as high as $5,000. Applying for this card does not affect your credit because they do not do a credit check. As long as your income is $100 more than the expenses you should be approved.

The Green Dot Primor Visa Gold Secured Credit card reports your on-time payments to all 3 major credit bureaus, but they also report any missed payments or derogatory actions on your credit card to the credit bureaus.

Compare The Alternatives

There are more secured cards – here are some good alternatives to the Green Dot card:

capital_one_secured_mastercard

citi secured mastercard review

Discover It Secured review

Capital One Secured
Citi Secured
Discover It Secured
Annual Fee
$0
$0
$0
Rewards
None None
None None
1-2% 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and unlimited 1% cash back on all other purchases
Welcome bonus
None None
None None
Match Bonus Discover automatically matches the cash back you've earned at the end of your first year, no limits
Foreign Transaction Fee
N/A
3%
3%
Purchase APR
30.49% (Variable)
27.74% (Variable)
27.74% (Variable)

Review Secured Credit Cards

Andrew O'Malley

Andrew O'Malley

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
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The product offers that appear on this site are from companies from which this website receives compensation. 

Table of Contents

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.