Self Visa® Credit Card
- Annual fee
- $25
- Recommended credit
- Fair / Poor / No Credit Required
- Card network
- Visa
- Regular purchase APR
- 29.24% (Variable)
At a glance
The Self Visa® Credit Card is a secured credit card that pairs with an existing Self Credit Builder Account. The card has no formal approval process. Instead, hopeful consumers simply need to open a Self account and save over $100 to fund the secured Visa account.
Our review of the Self Visa® Credit Card
The Self Visa redit Card is a secured card designed to help build credit quickly. From leading fintech company, Self, this card is not available for direct applications. Instead, opening a Self Credit Builder Account and making on-time payments will guarantee you access to this credit-building secured card with the purchasing power of the Visa network.
How to Get the Self Visa® Credit Card
The approval process for the Self Visa® Credit Card is unique compared to other secured credit card accounts. As a credit builder startup, Self requires potential applicants to engage with the company and grow their credit portfolio.
To begin, individuals must open a Self Credit Builder Account. This account offers a unique loan product where individuals with no credit history or poor credit open a loan account and “pay off” the loan into a certificate of deposit (CD) account. The table below outlines the different options available:
| Monthly Payment | 1-Time Admin Fee | Loan Length | Amount You Get Back |
|---|---|---|---|
| $25 | $9 | 24 | $520 |
| $35 | $9 | 24 | $724 |
| $48 | $9 | 12 | $539 |
| $150 | $9 | 12 | $1,633 |
Once the account holder makes three on-time monthly payments and has more than $100 in their CD account, they can choose to open a Self Visa® Credit Card account. They can select their initial deposit level (minimum $100) and order their secured card. There are no credit checks, meaning no impact on credit scores. Additionally, there is no formal application process, so no one can be denied the Self Visa Secured Card. However, opening the account requires a $25 annual fee.
Credit-Builder Benefits
Building credit can be challenging without the right tools. The Self Secured Visa makes this process easier.
Build Good Credit with On-Time Payments
The Self Visa reports to major credit bureaus monthly, allowing users to quickly raise their credit score through timely payments. Payment history contributes to 35% of a FICO Score. By consistently paying on time, users can significantly boost their credit score within six months to a year. Self states that responsibly using the Secured Visa covers over 75% of the major factors affecting a person’s FICO score.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- If you have an active Credit Builder Account in good standing, 3 on time payments, $100 or more in savings progress and satisfying income requirements you may be eligible to receive the Self Secured Visa Credit Card*, without a hard credit check. Criteria subject to change.
- Build credit and savings at the same time.
- Start with a Credit Builder Account* that reports monthly payments to all 3 major credit bureaus.
- At the end of your plan, unlock the savings you built — minus interest and fees.
- The Self Visa® Secured Credit Card* is accepted at millions of locations in the U.S.
- *Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval. The secured Self Visa® Credit Card is issued by Lead Bank or First Century Bank, N.A., each Member FDIC. See Self.inc for details. Subject to ID Verification. Individual borrowers must be a U.S. citizen or permanent resident and at least 18 years old. Valid bank account and Social Security Number are required. All loans are subject to consumer report review and approval.
Who this card may suit
- You're serious about raising your credit score
- You already have a Self Credit Builder Account
- You don’t mind the card's $25 annual fee
- You plan to pay your card balance in full every month
Rates, fees and terms
| Annual Fee | $25 |
|---|---|
| Regular Purchase APR | 29.24% (Variable) |
| Late Payment Penalty Fee | Up to $15 |
| Return Payment Penalty Fee | Up to $15 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Fair Credit Poor Credit Limited or No Credit.
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Self Visa® Credit Card
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