Credit Builder Secured Visa® Credit Card FAQ

No, you cannot put the Credit Builder Secured Visa® Credit Card in the name of a business. It is exclusively a personal product designed to help individuals rebuild or establish their credit score.

Yes, two cards can be issued if the Credit Builder savings account you establish is a joint account. For this to happen, both parties must be on the credit application.

4-5 business days is the average turnaround time.

After your application is approved, you will receive your card in approximately two weeks.

For the credit card, you will receive a free paper transaction statement each month that details your card activity and the payment amount due. For the savings account that’s linked to the card, you are required to enroll in e.Statements. If you choose not to enroll, you will be charged $4.50 each quarter to receive a paper statement for the savings account.

Learn more about e.Statements.

Yes, you can add money to your Credit Builder savings account. You can do so as often as you like in increments of at least $50, up to a maximum of $3,000 in the account.

Following the day of the deposit, it will take approximately 1 to 2 business days for your credit limit to increase.

Currently, the interest rate is 0.05%. It follows the rate paid on other savings accounts.

No, the Credit Builder program has a specific savings product that needs to be used as the collateral account.

No, you may not withdraw money from the savings account while your credit card is secured unless you close both the Credit Builder savings account and the Credit Builder credit card. This is because the savings account acts as collateral for your secured card.

No. If you’re interested in the Saving Cents program, we recommend you open a second savings account and link that account with Saving Cents.

No, the minimum age for a credit card is governed and determined by state laws.