Varo Believe is coming soon!
1. Open a Varo Bank Account and set up direct deposit
Open a Varo Bank Account and set up direct deposit to begin the process to qualify for the Varo Believe Program.
2. Apply for your credit card
Once eligible, you’ll be invited to apply for the Varo Believe Program directly in the Varo Bank app.
It’s free — there’s no upfront security deposit and applying doesn’t impact your credit score. See how to qualify here.
3. Use your new credit card for all your purchases
With your new credit card linked to your Bank Account, you can make everyday purchases and get cash advances at ATMs and merchants who allow cash back on purchases. Your credit limit is the balance in your Varo Bank Account or $10,000, whichever is less. (You can’t spend more than you have in your Bank Account.)
When you make purchases, money will be transferred from your Bank Account to a secured Vault Account. The Vault Account will help you pay your credit card balance every month on-time and in full.
4. Monitor your credit score, right in your Varo Bank app
Varo will report on your payment history to the 3 major credit bureaus, which can help you build your credit history.*
You’ll be able to monitor your score right in the Varo Bank app for free. It’s that easy!
*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.