Varo Trust: Simplify Your Credit Building Journey

Named Varo Believe, this card focuses on empowering you to showcase your potential and access improved credit options.

The Varo Believe Credit-Builder Card is crafted by the digital bank to help you enhance your credit without any unexpected issues.

This card provides all the safety features of a Visa while working to boost your credit score. Let’s explore the application process.

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Varo Money is a decade-old company, established in 2015 by Colin Walsh, functioning as a fintech with its own banking app.

In 2020, it obtained its national bank charter, making it a fully licensed neobank fintech.

Varo provides security and safeguards with FDIC insurance up to $250,000 per customer, data encryption, and fixed-rate loans.

The Varo Believe is a secured credit card designed to assist you in building or repairing your credit.

Unlike a prepaid card, the Varo Believe is a genuine credit card that operates on the Visa network. Plus, your usage is reported to credit bureaus.

The Varo Believe is fortified by the same security and regulations as Varo Bank, including its charter status and FDIC protection.

As a cardholder, you will transfer money from your Varo checking account to a secured account, which sets your credit limit.

This allows you to use your card for purchases just like any other credit card, with a limit equal to your secured deposit.

The credit limit depends on how much the cardholder deposits into the secured account. Varo does not set a minimum, but the maximum is $10,000.

No, the Varo Believe Card does not offer any welcome bonus to cardholders.

The card has no annual fee, a 0% APR, and no foreign transaction fees.

Varo does not perform a deep credit check, since the card’s purpose is exactly to help users build or rebuild credit

Yes, it is possible to apply directly through the bank’s digital channels and app in a safe and reliable way.

Activate Safe Pay: the app automatically sets aside funds as a guarantee and pays your statement in full at the end of the billing cycle, avoiding interest.

Varo shares your payment history with all three major credit bureaus (Equifax, Experian, and TransUnion) and provides your VantageScore 3.0 for free through the app.

If you lack a credit score, begin with Varo Believe.

If you already possess a score and wish to enhance it more quickly or elevate it further, maintain the Believe and think about getting a second card that reports your limit.