Varo Believe is coming soon!
With prepaid cards, you load cash on the card in order to use the card for purchases. Use is not reported to credit bureaus, so they can’t be used to build credit.
Varo Believe offers a credit card linked to your Varo Bank Account. Each time you make a purchase or cash advance on your card, we’ll move the transaction amount from your Varo Bank Account to your Vault Account. Each month we’ll send you a statement and then you can use the money in the Vault Account to pay your monthly statement balance.
As you build up on-time payment history with Varo Believe and we report this history to the credit bureaus, you may be able to positively impact your credit history. Varo Believe 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, and not all factors are equally weighted. Building your credit may take time and is a process, but Varo Believe 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.