Self Visa Secured – How to Apply
The Self Visa Secured Credit Card offers a fresh approach to credit-building.
Instead of asking for a deposit upfront like most secured cards, Self helps you create your own deposit through a linked Credit Builder Account.
It’s a practical option for those who don’t have a lump sum to set aside but are ready to improve their financial standing.
What makes this card truly unique is how it combines credit-building with savings. Users begin with a Credit Builder Account essentially a small installment loan.
Each month, you make fixed payments, and part of that payment is set aside into a CD (certificate of deposit).
After a few on-time payments, you’re eligible to open the Self Visa Secured Credit Card using your accumulated savings as the security.It’s not just about getting access to credit. It’s about earning it, and that distinction matters.
Self Visa Secured
No upfront security deposit Annual fee of $25How Does the Self Visa Secured Credit Card Work?
To begin, you open a Credit Builder Account through Self. This account is structured as a loan held in a CD, with monthly payments ranging from $25 to $150. As you make payments, your performance is reported to all three major credit bureaus—Experian, TransUnion, and Equifax.
Once you’ve made at least three on-time payments and have at least $100 saved, you become eligible for the Self Visa Secured Credit Card. Your credit limit is based on the amount you choose to move from your Credit Builder Account, which becomes your deposit. You don’t need to come up with that money in advance—it’s money you’ve already saved.
The card then functions like a traditional secured card: you can use it anywhere Visa is accepted, make purchases, pay bills, and build your credit further by keeping your balance low and paying on time. There’s no hard credit pull at any point in the process, and you can manage everything through the Self app or website.
Main Benefits of the Self Visa Secured Credit Card
One of the biggest benefits is accessibility. Many people are unable to come up with the $200–$300 required to get started with a typical secured card. With Self, you’re building that deposit gradually while already gaining credit-building benefits from the loan side.
The dual-reporting structure—installment loan + secured credit—also gives you a more well-rounded credit profile. This diversity can help you improve your score faster, especially when paired with responsible usage.
There’s also the peace of mind that comes with no hard credit check. You can apply and move through the process without any fear of rejection or score damage, which is often a barrier for people who’ve faced prior financial hardship.
Plus, everything is managed digitally. The Self app is intuitive and easy to use, so tracking payments, setting reminders, and staying on top of your account is seamless.
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Cons of the Self Visa Secured Credit Card
The most notable downside is that you can’t get the card immediately. You must first open the Credit Builder Account, make a few payments, and save a certain amount. For people who need a credit card right now, this delay might be a dealbreaker.
Also, the card has a $25 annual fee, and there are no rewards or cashback benefits. It’s strictly a credit-building tool, not a spending incentive card.
The credit limit is also relatively low, depending on how much you’ve saved in the loan account. This means it might not be ideal for large purchases or ongoing monthly bills.
Still, these trade-offs are reasonable when you consider the broader goal: giving people a responsible, structured way to enter the credit system.
APR and Fees
- Annual Fee: $25
- APR: 26.99% (variable)
- Late Payment Fee: Up to $15
- Returned Payment Fee: Up to $15
- Foreign Transaction Fee: 3% of each transaction
These fees are moderate and aligned with similar secured cards in the market. As always, paying balances in full and on time can eliminate interest charges entirely.
How to Apply for the Self Visa Secured Credit Card
- Visit the official Self website or download the app.
- Open a Credit Builder Account by selecting a monthly payment plan.
- Make at least three on-time payments and save $100 or more.
- Become eligible for the Self Visa Secured Card.
- Choose how much of your savings to use as a security deposit.
- Activate your card and begin using it to build your credit.
