Green Dot Primor Visa Gold Secured Credit Card Review: A Useful Tool for Improving Credit

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Obtaining a secured credit card is a great way to build your credit history. In fact, MyFICO (the consumer website for FICO credit scores) recommends it.сфк

But even if this is your first time building credit – or you have bad credit – it’s important to pick the right secured card.

Finding a secured credit card with low costs and solid customer support is ideal. That way you can work towards the credit score of your financial dreams in a manageable way.

So if you’re shopping around for a secured credit card, check out our Green Dot primor Visa Gold Secured Credit Card review below. This could be the secured card to help you take your credit to the next level.

Green Dot primor Visa Gold Secured Credit Card review

The Green Dot primor Visa Gold Secured Credit Card is a secured card that can be used to help you establish credit for the first time – or improve spotty credit.

There are several pros to using this secured Visa credit card:

  • It has a very low purchase APR.
  • There’s no fee to apply.
  • There’s no penalty interest rate.

However, there are also several cons to using this card:

  • You can’t request a balance transfer with this card.
  • This card has a relatively high annual fee.
  • You’ll have to manage and pay your credit card on two separate online platforms.
Apply for a Green Dot Primor Secured Visa

Green Dot products

The primor secured card, provided by Green Dot, is one of several products the financial company offers. Green Dot also offers reloadable prepaid debit cards online and at participating retailers.

Green Dot prepaid debit cards can be reloaded with cash or check, through a bank transfer, or via direct deposit from an employer or from a tax refund. They are an alternative to traditional banking that allows faster access to paychecks. You do not have to worry about overdraft or bounced check fees and can earn 5% cash back when using your debit card at stores nationwide. However, you’ll pay a $7.95 monthly fee for each month you do not make at least $1,000 in purchases on your card.

Using the Green Dot primor Visa Gold Secured Credit Card review online platform

If you sign up for this secured Visa credit card, you will manage your account at Green Dot Credit. You can make payments, review statements, and view recent transactions on the online platform. You can also deposit funds to increase your credit limit.

Green Dot primor Visa Gold Secured Credit Card interest rates and fees

This Green Dot primor Visa Gold Secured Credit Card comes with a low purchase APR but a high annual fee. Here’s a breakdown of costs and fees to consider:

  • The purchase APR is 9.99%.
  • The annual fee is $49.
  • A replacement card or an additional card is $29.
  • Late fees are $29.
  • An increased credit limit or upgraded card is $49.
  • The cash advance APR is 18.99%.
  • The cash advance fee is either $5 or five percent, whichever is more.
  • A three percent fee is charged for foreign transactions.

Since all fees are charged to your account, you will pay interest on them if you don’t pay them in full by the end of the billing cycle.

The interest rate on the fees isn’t the same as the purchase interest rate. Instead, the interest rate on fees is the same as the interest rate on cash advances, which is double the rate.

Green Dot primor Visa Gold Secured Credit Card eligibility requirements

Like many other secured credit cards, it’s easy to be approved for this secured Visa credit card. You can apply online, there is no minimum credit score required, and there are no processing fees.

Since the annual $49 fee is charged to the card, you can either pay it off within the billing cycle at no interest or pay it off slowly if you need more time.

Remember, the credit limit on the card will equal the security deposit you put down. Additionally, your credit limit for cash advances will be half of the credit limit on your card.

Check out the Green Dot Primor Visa Gold Secured card

Green Dot customer service

The primor Visa® Gold Secured Credit Card is offered by Green Dot. According to Better Business Bureau (BBB), the bank is doing quite well and has been given an “A” score.

This score means Green Dot has gotten 3.5 out of five stars based on specific factors. This includes complaint volume, unanswered complaints, transparent business practices, and more.

As for the Green Dot Primor Secured Visa Gold Card secured card, the card has received mostly popular reviews from customers. However, there have been some complaints about high fees, unhelpful or unfriendly customer service representatives, and long delays in returning deposited funds.

More about Green Dot

Anyone who had this Visa secured credit card years ago knew it as the card developed by First Choice Bank. The card was then acquired by Berkshire Bank at the end of 2016 before Green Dot became the card provider on September 1, 2017. Green Dot also manages the associated direct deposit account.

Green Dot has been in business since 1999 and is one of the country’s leading providers of prepaid debit cards with millions of customers nationwide. It is headquartered in Pasadena and its mailing address is P.O. Box 5100, Pasadena, CA 91117. 

Green Dot and primor Visa Gold Secured Credit Card contact info

Green Dot products are sold at tens of thousands of retail locations including Kroger, CVS, Rite Aid, Walgreens, and many other retailers.

If you have a primor Visa Gold Secured Credit Card, the number to call for customer service is (866) 795-7597. You can also manage your Green Dot card online.

You can reach them on Twitter at @greendotcards and on Facebook, Instagram, and YouTube.

Get the Green Dot Primor Visa Gold Secured Card today

Final word on using a secured credit card to establish credit

In case you’re interested in learning how to use a secured credit card to establish credit, here’s advice from the Director of Public Education for Experian, Rod Griffin.

  • Make sure the secured card you want will be reported to at least one of the national credit reporting companies or else the card won’t help you build a credit history.
  • Your account will need to be open and active for at least three to six months before it will be included in credit score calculations.
  • Make a small purchase each month on the card and then pay it in full to build credit while avoiding debt.
  • If you can’t pay off your card each month, don’t let your balances exceed 30 percent of your credit limit.
  • Remember that failing to pay on your secured account will be reported as a delinquency on your credit report.
  • The amount of time it takes for the secured account to help your credit score will depend on your unique credit history.

“Opening an account, whether secured or unsecured, may not be the best strategy if you’re trying to rehabilitate your credit history,” Griffin said. “Get a credit score and the risk factors that go with it. Those factors will tell you what you need to work on to improve your credit most quickly.”

And if you’re working to pay down high debt? Then you might want to think twice before getting a secured credit card, according to Griffin. Your score will improve more by paying your debt down.

No matter what you end up doing, just make sure it’s the right thing for your current needs and your future goals.

Shannon Insler contributed to the reporting for this article.

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1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Personal LoansFixed rates from 6.325% APR to 15.615% APR (with AutoPay). Variable rates from 6.275% APR to 14.70% APR (with AutoPay). SoFi rate ranges are current as of July 3, 2018 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 6.275% APR assumes current 1-month LIBOR rate of 2.10% plus 4.175% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
  2. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  • Personal Loan Rate DisclosureFixed interest rates from 6.49% – 19.49% (6.49% – 19.49% APR) based on applicable terms. Lowest rates range from 5.99%-18.99% (5.99%-18.99% APR), are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  1. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  2. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.

* Important Disclosures for Upgrade Bank.

Upgrade Bank Disclosures

  • Personal Loan Rate DisclosureFixed interest rates from 6.49% – 19.49% (6.49% – 19.49% APR) based on applicable terms. Lowest rates range from 5.99%-18.99% (5.99%-18.99% APR), are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  1. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  2. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.
7.73% – 29.99%$1,000 - $50,000
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6.28% – 15.62%1$5,000 - $100,000
Check rate nowon SLH's secure site
6.87% – 35.97%*$1,000 - $50,000Visit Upgrade
8.00% – 25.00%$5,000 - $35,000
Check rate nowon SLH's secure site
4.99% – 29.99%$10,000 - $35,000Visit FreedomPlus
5.99% – 18.99%2$5,000 - $50,000Visit Citizens
15.49% – 34.49%$2,000 - $25,000Visit LendingPoint
5.99% – 35.89%$1,000 - $40,000Visit LendingClub
5.49% – 18.24%$5,000 - $75,000Visit Earnest
9.95% – 35.99%$2,000 - $35,000Visit Avant
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.