No, this is a secured credit card with no hard credit check.

Similar to a credit builder loan, the Self credit builder card could help you improve your credit, but it depends on how you use it and what else is happening in your unique credit history. We cannot guarantee that you will have good credit right away when using a credit builder credit card. Results vary. In general, though, the Self secured credit card, like any credit card, affects 3 major parts of your credit score: the amounts you owe, the average age of your accounts and your payment history (source:

FICO®

). These factors can have a great influence on your credit report in the future.

Getting access to the Self credit card is different from other credit cards. Instead of an application and approval process, Self customers can become eligible to open a Self Visa Credit Card. We can’t guarantee you will become eligible for the credit builder card. But once you meet the eligibility requirements, the choice is yours whether to open the Self Visa Credit Card account.

No, you can’t be rejected or turned down for the credit builder card because there isn’t an application process like other credit cards. Instead, you must meet the eligibility criteria, and once you meet the criteria, you choose if you want to open this secured credit card or not. (Note: it is possible to become ineligible if you no longer meet the minimum eligibility requirements.)

First, you must have an open and active Self Credit Builder Account. Then, you have to meet the eligibility criteria mentioned above for our credit builder cards.

The minimum credit limit is $100.

Yes, you will have the opportunity to increase your credit limit as you make each monthly payment on your Credit Builder Account and keep the account in good standing.

Yes. The whole mission of Self Financial is to help people build credit and save money. That’s why our credit builder card can be a great way to improve poor credit. This secured credit card was designed for people whose credit is bad or poor (as defined by FICO) and is meant to be another tool for you to use to work on improving your credit.

Yes. It can be difficult to build credit with no credit to start with. In order to get access to the credit card, you need to have an active Credit Builder Account in good standing (among other eligibility requirements) with your lender. It's OK if you have no credit when you open the Credit Builder Account (it's meant to help establish your credit history). By the time you become eligible for the Self Visa Credit Card, you will have already established some credit history simply by opening and making payments on your Self Credit Builder Account. Make sure you make timely payments as a single late payment on your credit card account can jeopardize your overall score. The credit card is meant to be another tool you can use to build your credit history and establish a good credit score.

No. It might seem like a prepaid card because it has a security deposit to secure your credit line. Prepaid cards are actually very different. See our blog post about whether prepaid cards build credit to learn more.

The minimum security deposit is $100.

Yes, the Self Visa Credit Card reports to the three major credit bureaus in the U.S.