Unlike traditional credit cards, Varo Believe helps you build credit with no fees and no interest.
Furthermore, traditional credit cards require an acceptable credit history to have already been established. A secured credit card, like the Varo Believe Card, gives you an opportunity to either rebuild credit or start building credit from scratch.
Credit limits also work differently with Varo Believe; your spending limit is your credit limit and is established by the Available Balance of your Varo Believe Secured Account, up to a maximum of $2,500 per day for purchases, $1,000 per day for cash advances at the ATM, to a maximum of $10,000 per billing cycle total for all purchases and cash advances.
Because Varo Believe offers a secured credit card, each time you make a purchase or cash advance on your card we’ll secure the transaction amount in your Varo Believe Secured Account. Each month we’ll send you a statement at the end of your billing cycle, and the money in your Varo Believe Secured Account can then be used to pay your monthly statement balance.