Coming soon

Introducing Varo

believe

Credit building* with no upfront deposit.
No monthly fees. No APR.

Is your credit score holding you back?
Trouble renting an apartment?
Denied a car loan or had to pay huge interest rates?

Unlike any other credit building program*

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A new kind of credit card, linked to your Varo Bank Account.

The credit card for building credit that has no upfront deposit. No monthly fees. No APR.

Use the credit card for all your purchases.**

Varo Believe sets aside money from your Varo Bank Account into a secure Vault Account, to be used to pay on-time, and in full every month. No runaway debt.

Varo will report your payment history to the 3 major credit bureaus.

Monitor your score directly on your Varo Bank app for free.

Changing the game so that you’re in control

Varo Believe Program has: Other programs for building credit may have:***
No monthly account fees Many fees
No up-front security deposit As much as $500 up-front deposit required1
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
     

How it works

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Open a Varo Bank Account and set up direct deposit

Open a Varo Bank Account and set up direct deposit to help qualify you for the Varo Believe Program.

Apply for your credit card

When eligible, you will be invited to apply for the Varo Believe Program directly in the Varo Bank app. 

It’s free — no upfront deposit and applying doesn’t impact your credit score. See “What we look for” below.

Use your new credit card for all your purchases.

Make everyday purchases with your new credit card tied to your Bank Account balance.** 

You’ll also open up a world of rewards, offers, and cashback.

When you make purchases, funds 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.

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 your Varo Bank app for free. It’s that easy!

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What we look for

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A minimum of two direct deposits totaling $1000 or more in the past 90 days.

Active use of your Varo Bank Account without any negative balances within the last 90 days.

Additional qualifications apply.

Get a Varo Bank Account today!

Applying won’t impact your credit score.

FAQ

How could the Varo Believe Program help increase my credit score?*

Varo Believe offers a credit card with credit reporting that has the potential to increase scores when you consistently make on-time and in-full payments. Every time you make a purchase or take a cash advance with your Varo Believe Credit Card, the transaction amount moves from your Varo Bank Account to your Vault Account where the money is stored until your payment is due. With on-time repayments of your monthly bill, 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.

Why is my card linked to my Varo Bank Account?

The Varo Believe Program is designed to work hand-in-hand with your Varo Bank Account to set aside funds in real time as you make everyday purchases, withdraw cash at ATMs, and get cash back when you check out at the register. The Vault Account secures your monthly balance and helps you make sure you have the money on hand to pay your bill in full and on-time each month.

What if I make a late payment? Will it impact my credit score?

When you use the Varo Believe Credit Card, money will be moved from your Varo Bank Account to your Vault Account to help you pay your statement balance each month. If you don’t pay your monthly statement balance on time, you’ll be charged a late fee of $15. 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.

Can I draw funds from the Vault Account?

No, the money in your Vault Account is set aside to cover your Varo Believe Credit Card statement balance in full, each month when it’s due. If you have the Safe Credit Builder tool turned on, we’ll automatically pay your statement balance at the end of your billing cycle using the funds already stored in your Vault Account, making sure you’ll never miss a payment. If you prefer not to use Safe Credit Builder for automatic payments, you can always set up automatic payments from a linked account, do manual payments from a linked account or your Vault Account, or mail us a check. Keep in mind that if you choose to pay with a linked account or via check, the funds in your Vault Account will be returned to your Varo Bank Account 3 business days after we receive your payment in full.

Have other questions? Please visit our Help Center.

Do you already have a Varo account?

How can we help you?

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I have questions about Varo Money

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I have questions about Varo Bank

When did you open your account?

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Before October 1, 2020

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After October 1, 2020