The Secured Self Visa® Credit Card Review
The Secured Self Visa® Credit Card can be an effective tool for building credit, especially for those with no credit history or a low score. It offers an unusual but highly accessible path to a secured card by allowing you to build your security deposit over time through a "Credit Builder Account".
However, the card has notable drawbacks, including a high interest rate, potential fees, and negative reports of poor customer service from some users.
How the Self Secured Visa works
1. Credit Builder Account: You open an installment loan where your payments are placed into a Certificate of Deposit (CD). Your payments build up both your credit history and the security deposit for the card over time.2. Qualify for the card: After making three on-time payments and meeting other eligibility requirements, you can get the Self Secured Visa.
3. Fund your credit limit: Your credit limit for the card is backed by the money you've saved in your CD. The minimum deposit is $100.
4. Pay on time to build credit: Your card activity is reported to all three major credit bureaus (Equifax, Experian, and TransUnion), helping you build a positive credit history.
Pros
Cons
Is The Secured Self Visa® Credit Card Legit?
Yes, Self Financial is a legitimate company that offers financial products designed to help people build credit. Its primary offerings are the Credit Builder Account and The Secured Self Visa® Credit Card, which are legally issued through its FDIC-insured partner banks.However, whether Self is a good or safe option for you depends on how you use it and your ability to tolerate its high costs and reported customer service problems.
How the Credit Builder Account works
The controversy around Self
Despite being a legitimate tool, Self has faced significant complaints that raise red flags for potential customers.High cost and fees
Poor customer service
- Fraud disputes: Customers have reported extreme difficulty getting fraudulent activity investigated and resolved.
- Poor communication: Many users report being unable to reach a live representative by phone or chat for basic issues.
- Payout delays: Some users claim to have experienced long delays or never received their funds after successfully completing their credit-builder loan.
- Sudden account closures: There are reports of accounts being closed without explanation, preventing the owner from accessing their funds.
Is The Secured Self Visa® Credit Card right for you?
The Secured Self Visa® Credit Card
- Start building credit with all three credit bureaus with the secured Self Visa® Credit Card.
- Apply Now: Intro No Annual Fee with the secured Self Visa® Credit Card^
- No credit check
- No hard inquiry
- $100 minimum security deposit*
*Qualification for the secured Self Visa® Credit Card is based on meeting eligibility requirements, including income and expense requirements and establishment of security interest. Criteria Subject to change.
The secured Self Visa® Credit Card is issued by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC.
^$0 annual fee for the first year only, $25 annual fee thereafter. Variable APR of 27.74%. Offer valid for new customers only. - CLICK HERE TO APPLY ONLINE
opensky® Plus Secured Visa® Credit Card
- No annual fee – keep more money in your pocket!
- No credit check required – 89% approval rate with zero credit risk to apply!
- Earn up to 10% cash back on everyday purchases
- Boost your credit score fast—2 out of 3 opensky® cardholders see an average increase of 47 points after 6 months
- Track your progress with free access to your FICO® score in our mobile app
- Build your credit history with reporting to all three major credit bureaus: Experian, Equifax, and TransUnion
- Seamless payments—add your card to Apple Pay, Google Pay, and Samsung Pay
- Start with as little as $300 – Secure your line with a refundable security deposit
- Fast and easy application—apply in minutes with our mobile-first experience
- Flexible payment options—pick a due date that works for you
- More time to fund—spread your security deposit over 60 days with layaway
- Join 1.6 million+ cardholders who have used opensky® to build better credit!
- CLICK HERE TO APPLY ONLINE
*See Terms and Conditions
Arro Card
- No hard inquiry to apply.
- Apply in 5 minutes or less.
- Get up to $300 with the unsecured Arro Card. Grow your credit line up to $2,500.
- Earn 1% cash back on gas & groceries, including Walmart and Target
- Instantly increase your credit limit as you master your personal finances in the Arro app.
- Reports to all 3 credit bureaus.
- The Arro Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International.
- CLICK HERE TO APPLY ONLINE
*Subject to terms and conditions
Found this guide helpful? Bookmark it for future reference as you continue your financial journey!
Experian Boost: A Comprehensive Guide to Boosting Your Free Credit Score
FICO® Credit Scores
FICO® Score Ranges:
- Exceptional: 800–850
- Very Good: 740–799
- Good: 670–739
- Fair: 580–669
- Poor: 300–579
What is a Credit Score?
A credit score is a three-digit number, typically ranging from 300 to 850, that predicts your creditworthiness—how likely you are to repay borrowed money on time. Lenders use this score to assess the risk of lending to you and to determine the interest rates and terms of any credit you might receive.
Why is a Credit Score Important?
A credit score is important because it acts as your financial reputation. Lenders, landlords, insurers, and employers use this single number to quickly judge how reliable you are with money. A higher score helps you qualify for loans and credit cards, often securing lower interest rates that can save you significant money. Conversely, a poor credit score can lead to application denials or much higher costs for borrowing, making it a key factor in your overall financial opportunities.
FICO® Credit Score Facts
- Three-Digit Number: Like other credit scores, FICO® Scores are a three-digit number that summarizes a consumer's credit risk.
- Range: Most standard FICO® Scores range from 300 to 850. Higher scores indicate lower credit risk.
- Data Source: FICO® Scores are calculated using data from your credit reports maintained by the three major credit bureaus: Experian, Equifax, and TransUnion. Your score may vary slightly depending on which bureau's data is used.
- Industry Standard: Lenders rely on FICO® Scores for mortgages, auto loans, and credit cards because they provide a consistent, statistically sound assessment of the likelihood that a borrower will repay their debt.
Note: Credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any credit card product.
Security Notice: All Applications utilize Secure SSL Technology for secure transmissions.
*See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the " Apply Now " button you can review the credit card terms and conditions on the credit card issuer's web site.
Advertiser Disclosure: The card offers that appear on this site are from companies from which Gettingacreditcard.com may receive compensation when a customer clicks on a link, when an application is approved, or when an account is opened. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Gettingacreditcard.com does not include all card companies or all card offers available in the marketplace.
© 2006-2025 GettingACreditCard.com, All Rights Reserved.