Varo Believe: Effortlessly Build Your Credit

Named Varo Believe, this card focuses on empowering you to showcase your abilities and access improved credit opportunities.

The Varo Believe Credit-Builder Card is crafted by the digital bank to assist you in building your credit without any hidden surprises.

This card offers the security of a Visa while helping enhance your credit rating. Let’s check out how to apply.

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Varo Money is a decade-old fintech company, established in 2015 by Colin Walsh, featuring its own banking application.

In 2020, it secured its national bank charter, officially becoming a fully licensed neobank fintech.

Varo provides security and protection with FDIC insurance up to $250,000 per customer, data encryption, and fixed-rate loans.

The Varo Believe is a secured credit card designed to assist you in building or rebuilding your credit.

Unlike prepaid cards, the Varo Believe acts as a real credit card on the Visa network, with your transactions reported to the credit bureaus.

The Varo Believe is supported by the same security and regulation as Varo Bank does, including charter status and FDIC protection.

As a cardholder, you transfer funds from your Varo checking account to a secured account, which sets your credit limit.

This allows you to use your card for purchases just like any regular credit card, with a limit that matches your secured deposit.

The credit limit is based on the amount deposited into the secured account. Varo has no minimum, but the maximum limit is $10,000.

No, the Varo Believe Card does not provide any welcome bonuses to cardholders.

The card has no annual fee, a 0% APR, and no foreign transaction fees.

Varo does not carry out an extensive credit check, as the card is specifically intended to help users build or rebuild their credit.

Yes, you can apply directly through the bank’s digital platforms and app safely and reliably.

You can enable Safe Pay: the app will automatically set aside funds as a guarantee and pay your statement in full at the end of the billing cycle, helping you avoid interest charges.

Varo shares your payment history with all three major credit agencies (Equifax, Experian, and TransUnion) and provides your VantageScore 3.0 at no cost via the app.

Don’t have a credit score? Begin with Varo Believe.

If you already possess a score but wish to enhance it more quickly or elevate it further, maintain your Believe card and think about getting a second card that reports your limit.