Varo’s credit builder account is a type of secured credit card that helps you build your credit history. To open an account, you must deposit $200. This deposit will be your credit limit. Each month, you will make a payment of at least 20% of your balance. Varo will report your payments to the credit bureaus, which will help you build your credit history. If you make all of your payments on time, you will eventually be able to upgrade to an unsecured credit card.
Here are some of the key features of Varo’s credit builder account:
- No credit score required to apply
- No minimum security deposit
- No interest or fees
- Your payments are reported to all three major credit bureaus
- You can upgrade to an unsecured credit card after making on-time payments for 6 months
Varo’s credit builder account is a great option for people who are looking to build their credit history from scratch or rebuild their credit after a negative event. It is also a good option for people who want to avoid paying interest or fees on a credit card.
Please use this Referal Link to help support what we do 😉 https://varomoney.com/r/?r=Kyle1633