Self Visa®+ Credit Builder Account 2023 Review: Build Credit Fast

If you can get two accounts rather than one for building credit then it might sound good. One such card is a Self Credit Card which is very distinct. But, for this, you have to open a Self credit builder a/c & after three months once you meet the requirements, you can get approval for a Self Visa credit card. Users who are new or those who want to repair their credit can go for this card. Before making any decision you should look for its more APR, high annual fee & restricted benefits. So, today we will discuss Self Visa credit card reviews.

Self Credit Card Overview

Self Visa + Credit Builder Account

Our Rating: 3.8/5

The Self card review is for those people who don’t have credit and want to build credit. In this, you need to open “Self credit builder” a/c instead of depositing a security amount. This account is basically related to installment loans where you will make payments for three months for building credit & you will qualify for a Self visa credit card.

Important Points

  • Credit card issuer: Lead Bank or South State Bank, N.A.
  • Initial credit limit: $100
  • Credit Score: 300 to 669
  • Deposit: $100
  • Annual Fees: $25
  • Purchase APR: 26.99% (variable)

Pros 

  • Great card if you want to build credit.
  • Feasible for bad/no credit. 
  • Does not require a credit check.

Cons

  • You need a “credit-builder a/c”.
  • Less credit limit.
  • High annual fee.
  • Balance transfers and cash advances are not available.

Additional Information

  • You can maximize your credit limit.
  • You can use this card anywhere as in the U.S. Visa cards are recognized. 
  • No need for any credit check.
  • If you use this card with proper caution then it can turn into an unsecured card.

Fees & Features of Self Credit Card

Fees & Features of Self Credit Card

Now let’s see its fees & a few features of Self credit card:

1. Fees

  • Late payment fee: None for the first late payment, then up to $15
  • Returned payment fee: Up to $15
  • Administrative fee: $9
  • Annual fee: $25

2. Interest Rate

This card has a high-interest rate as compared to other cards and also it doesn’t provide any intro APR. So, if you are going to carry forward the balance then keep in mind that you may need to pay high interest.

3. Getting a Self Visa

In this, you need to open “Self credit builder” a/c. This account is basically related to installment loans where in order to build credit you have to make payments for three months. In order to apply for this card, you need to meet a few requirements:

  • You must keep $100 or even more in your savings account.
  • Make sure that your a/c position is good.
  • Complete three monthly payments on time.

4. Credit Reporting

It gives reports to all three main agencies. They will record the whole activity related to installment loans & credit cards which will improve your credit report. You should know that credit reporting is a crucial part of building credit as after this only your credit score will get updated.

Is a Self Credit Card Good to Use?

The Self credit card is basically a “starter card”  for users who have zero or bad credit and for those who want to improve or build their financing record. You can build your credit more quickly as it allows you to open 2 accounts without affecting the credit score. But, the drawback is that it doesn’t have more benefits and also you need to take out a loan with a high-interest rate. So, this card can’t be an option for many people.

For Whom Self Credit Card is for? 

Look below to find out for whom the card is for:

  • Self Customers: In case, you have Self-builder a/c then you can get this card automatically but you have to make the payments on time for three months & deposit $100 as a security deposit in the account. 
  • People with No Credit History: The Self card is a good option for building credit without affecting your credit score. You need to make payments on time otherwise it will damage your credit. 

Corresponding Cards

Now, you know everything about this card. So, it’s good if you look at other cards that also help in building credit and it will be easy for you to decide which card you should go for:

1. Citi Secured Mastercard

Citi Secured Credit Card

Our Rating: 3.8/5

This card provides less interest rate as compared to the Self card and the Citi Secured MasterCard will not charge any annual fee. You have to deposit $200 to $2500 as a security deposit and it will be your starting credit limit. You can also do balance transfers & cash advances.

Important Points

  • Credit Score: 300 to 669
  • Purchase APR: 26.24% (variable)
  • Deposit: $200 to $2,500
  • Annual Fee: $0

Pros 

  • Zero annual fees
  • Credit reporting is done in all agencies
  • Accessible to restricted borrowers

Cons

  • More APR
  • Needed a security deposit
  • 0 rewards

2. Discover it Secured Credit Card

Discover it Secured Credit Card

Our Rating: 4.8/5

If you use a Discover it Secured credit card then you can improve your credit history. It comes with rewards, zero annual fees, and a desirable bonus. You will only have to pay $200 and they will repay it once you cancel or upgrade the card.

Important Points

  • Credit Score: 300 to 669
  • Purchase APR: 25.99% (variable)
  • Deposit: $200 to $2,500
  • Annual Fee: $0

Pros 

  • “Dollar-for-dollar” Cashback
  • Zero annual fee
  • 0 foreign transaction fees
  • See credit scores for free
  • 1% to 2% rewards

Cons

  • Fairly high APR
  • Needed a security deposit

3. BankAmericard Secured Card

Bank Americard Secured Credit card

Our Rating: 4.1/5

This card has few advantages as compared to the Self Visa credit card. It has less interest rate and zero annual fees. You can also graduate with an unsecured card and get $300 to $4900 back. All in all, it is a good card for long-term purposes. 

Important Points

  • Credit Score: 300 to 669
  • Purchase APR: 24.99% (variable)
  • Deposit: $200 to $5000
  • Annual Fee: $0

Pros 

  • Low annual fee
  • Feasible credit limit
  • See the FICO score for free
  • No charges for fraud

Cons

  • More interest rate
  • You need to deposit $300
  • Zero rewards

Conclusion

You can decide if the Self Credit Card is the best card for you now that you are fully informed about it. After learning about the advantages & disadvantages of this card, you now have the choice of using it or not. If you are undecided, you can think about several choices quoted by us. For any questions, feel free to call us. If we get to assist you again, we will be grateful.

Frequently Asked Questions (FAQs)

Q1. What is the Self credit card limit?

The starting limit of a Self credit card is $100 to $3,000.

Q2. How to close a Self credit card?

You can cancel your Self card by contacting them. 

Q3. How to use a Self credit card?

You need to open “Credit Builder” a/c and make your payments on time. Then you can qualify for a Self credit card. 

Q4. Why has my Self credit card been declined?

The reason that your Self card gets declined is that your minimum payments have been due for 10 days or more.

Q5. How to increase the Self credit card limit?

If you have made maximum savings in credit builder a/c then it will reflect on your dashboard. Now, you can increase your credit limit.

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