Building or rebuilding your credit can feel overwhelming—but it doesn’t have to be. The secured Self Visa® Credit Card offers a unique, two-in-one path to building your credit: combining a Credit Builder Account with a secured credit card. For those serious about taking control of their financial future, this card may be the tool that helps turn the tide.
What Is the secured Self Visa® Credit Card?
The secured Self Visa® Credit Card is not a traditional secured credit card. Self Financial, the fintech company behind this product, has blended two powerful credit-building tools into a single ecosystem:
- A Credit Builder Account, where you pay monthly installments to yourself (held in a CD), and your payments are reported to the credit bureaus minus interest and fees.
- The secured Self Visa® Credit Card you can unlock by saving at least $100 in your Self Credit Builder Account and meeting eligibility requirements.
This approach may help improve your credit mix and payment history, but also learning smart financial habits before accessing revolving credit.
How It Works: Step-by-Step
- Make On-Time Payments: Your payments are reported to all three major credit bureaus—Experian, Equifax, and TransUnion.
- Unlock the secured Self Visa® Credit Card: You can choose your security deposit from your Self savings—starting at $100—and begin using the card.
This model ensures you’re practicing responsible credit habits before getting access to revolving credit lines.
Key Benefits of the secured Self Visa® Credit Card
- No Credit Check to Apply: You won’t need a hard inquiry to open the Credit Builder Account or unlock the secured card.
- Reports to All Three Credit Bureaus: Helps establish or rebuild your credit history across the board.
- Builds Savings & Credit Simultaneously: Each payment builds credit history and goes toward your savings.
- Low Barrier to Entry: With a $100 minimum deposit, it’s more accessible than many traditional secured cards.
Who Should Consider the secured Self Visa® Credit Card?
This product is best suited for:
- Credit Newcomers: People with no credit history who want to start on the right foot.
- Rebuilders: Individuals who’ve faced past credit setbacks (like collections or delinquencies) and want a structured way to rebuild.
- Those Without Upfront Cash: You don’t need to fund a deposit in one go—your savings build over time with your loan.
However, if you already have decent credit or a large lump sum to secure a traditional card, you might prefer a card with a higher credit limit or better rewards.
Tips for Maximizing Impact
- Keep Utilization Low: Aim to use no more than 10-30% of your available credit.
- Pay On Time Every Time: On-time payments are one of the biggest factors in your credit score.
- Monitor Your Credit: Use a credit monitoring service or Self’s mobile app to track progress.
- Graduate When Ready: After a year or more of responsible use, consider applying for an unsecured card and keeping your Self card open for credit history.
How It Compares to Other Secured Cards
Here’s how the secured Self Visa® Credit Card stacks up:
the secured Self Visa® Credit Card
- Minimum Deposit: $100 (from savings)
- Credit Check: No
- Credit Reporting: Yes, to all 3 bureaus
- Rewards Program: No
Discover It® Secured
- Minimum Deposit: $200
- Credit Check: Yes
- Credit Reporting: Yes, to all 3 bureaus
- Rewards Program: Yes (1% cash back)
Capital One Secured
- Minimum Deposit: $49–$200
- Credit Check: Yes
- Credit Reporting: Yes, to all 3 bureaus
- Rewards Program: No
The secured Self Visa® Credit Card stands out for accessibility and the dual benefit of credit building and savings—but it doesn’t offer rewards or a path to a higher limit unless you deposit more from your CD.
Final Thoughts: Is the secured Self Visa® Credit Card Worth It?
If you’re new to credit or recovering from a rough patch, the secured Self Visa® Credit Card offers a well-structured, low-pressure way to build both savings and credit. Its linked loan structure helps instill strong financial habits before you’re trusted with revolving credit.
While it may not be the flashiest card on the market, it provides foundational value that can unlock better opportunities down the line—making it a smart first step for many consumers.
Next Steps
- Visit Self’s official website to explore the Credit Builder Account.
- Compare secured cards to see if Self aligns with your financial goals.
- Track your credit improvement using Self’s in-app tools or a free credit score service.
Qualification for the secured Self Visa® Credit Card is based on meeting eligibility requirements, including income and expense requirements and establishment of security interest. Criteria subject to change.
The secured Self Visa® Credit Card is issued by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC.
Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.
$25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. See self.inc/pricing
$0 annual fee for the first year only, $25 annual fee thereafter. Variable APR of 28.24%. Offer valid for new customers only.
