Varo Believe is coming soon!
Varo Believe offers a free credit card with credit reporting that has the potential to increase scores when you consistently make on-time and in-full payments.** Every time you make a purchase or take a cash advance with your Varo Believe Card, the transaction amount moves from your Varo Bank Account to your Vault Account where the money is stored until your payment is due. With on-time repayments of those bills, you can build a positive payment history, which can help improve your credit score.
Varo Believe also offers Safe Credit Builder, an automatic payment tool that pays your full balance on-time every month from your Vault Account as soon as your billing cycle closes. This helps you make sure you pay your bill in full and on-time each month. We’ll report your on-time payment history to the 3 major credit bureaus, which over time may help improve your credit score.
Note, we’ll also report a negative payment experience. On-time payments are critical to building a positive credit history.
*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 credit card must be repaid on time to avoid late charges. Continued use of the Varo Believe credit card is contingent upon timely payment.