Start building credit with no monthly fees. No APR. Avoid debt.
Apply for a Varo Bank Account today and start qualifying for the Varo Believe Program.
|Varo Believe Program has:||Other programs for building credit may have:***|
|No monthly account fees||Many fees|
|Avoid debt||Risk of getting trapped in debt|
|Applying does not impact credit score||Inquiries can negatively impact your credit score|
|No APR||Up to ~23%2|
The Varo Believe Program offers a new kind of credit card linked to your Varo Bank Account. You can make everyday purchases with your Varo Believe Card up to your credit limit. Your credit limit can't exceed your Varo Bank Account 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.
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. With on-time repayments of those bills, you can build a positive payment history, which can help improve your credit score. Varo will report on your payment history to the 3 major credit bureaus which can help you build your credit history. Note, we’ll also report a negative payment experience. On-time payments are critical to building a positive credit history.
If you don’t pay your monthly statement balance on time, you’ll be charged a late fee of $15 and late payments could reflect negatively on your credit report. In order to keep using the Varo Believe Credit Card, you need to make on-time payments; late payments may cause you to lose your ability to use the product.
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Before October 1, 2020
After October 1, 2020