The Varo Believe Program offers a secured credit card with credit reporting that may help you build your credit when you consistently make on-time and in-full payments each billing cycle.*
You’ll add money to your Varo Believe Secured Account to set your spending limit for your Varo Believe Card. Any purchase you make with your card is locked as secured funds in your Varo Believe Secured Account, which can then be used to repay your statement balance automatically at the end of the billing cycle. You can also repay manually from your Varo Bank Account or another linked account.
On-time repayments of your Varo Believe Card bill can build a positive payment history, which may help improve your credit score**.
We recommend turning on Safe Pay, a tool that pays your full balance on time every month from the secured funds in your Varo Believe Secured Account. We’ll report your payment history to the 3 major credit bureaus, which over time may help improve your credit score. We’ll also report any negative payment experience. It’s important to pay on time!**
*The Varo Believe Program is designed to help you build your credit; however, a variety of factors impact your credit including payment history, utilization, derogatory marks, account age, total number of accounts, and inquiries - not all factors are equally weighted. Building your credit may take time and is a process, but the Varo Believe Program may be able to help.
**The Varo Believe Card must be repaid on time to avoid late charges. Continued use of the Varo Believe Card is contingent upon timely payment.