Nope. Varo doesn’t report percent utilization to the major credit bureaus because it has no pre-set credit limit. That means spending up to the amount you added will not show a high-utilization card on your credit history.
Your spending limit is established by the amount you deposit into your Varo Believe Secured Account (shown as Available to Spend in the app). Your credit limit cannot exceed your Available to Spend balance, up to $2,500 for purchases and $1,000 for cash advances per day, totaling no more than $10,000 total per billing cycle.