Green Dot Platinum Secured Visa

Picture of Green Dot Platinum Secured Visa
18 Reviews
Consumer Rating:
3.5
Lowest:
0
Average Score:
510
Highest:
692
All
5 Star
11%
4 Star
27%
3 Star
33%
2 Star
0%
1 Star
5%
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Credit Score: 600 Credit Limit: 0 Age: 35-44
Posted 12/20 2018
Overall Rating:
Do.Not.Waste.Your.Money.Or.Your.Time.On.This.Card.
Do some research, most definitely read the fine print.
Just because the process is easy to sign up doesn't mean it's not a rip off.
Thanks

Very Disgruntled ex-user
 
Credit Score: 554 Credit Limit: 200 Age: 18-24
Posted 12/19 2018
Overall Rating:
Do not get this card they don't send statement about how much u owe nor do they give you transaction history and will get you behind on your payments try credit one or premier bank
 
Credit Score: 650 Credit Limit: 640 Age: 35-44
Income On Application: $45000
Posted 12/15 2018
Overall Rating:
Avoid this card at all costs.Poor, my score dropped after signed up for their card. Payments that are made by check must undergo verification - if it is not verified your score drops and has impact on credit score .
 
Credit Score: 0 Credit Limit: 0 Age: 35-44
Posted 12/12 2018
Overall Rating:
I decided to fix my credit, so I can purchase a home. My credit score was in the low 400s. I applied for the Platinum card put 200.00 des posit down and only used it for gas. I paid my balance before the due date. And I also paid one of my student loans off and kept the other ones updated. I started this in September 2018. Now in December my score is 600. I’m planing to increase my credit limit and watch my score rise. I’m very happy because I’ve never had a score this high.
 
Credit Score: 692 Credit Limit: 5000 Age: 45-54
Income On Application: $56850
Posted 10/27 2018
Overall Rating:
My Vantage scores are 692 for Transunion, 700 for Equifax, and 670 for Experian. My FICO scores are 650 Experian, 612 Transunion, and 634 Equifax. I had close to 30k in medical bills but I started paying them back in January 2017. I now only have $8000 left and my Vantage and FICO scores have been climbing. I also only owe $5400 on my current auto loan and I have paid consistently and on time with that for four years. I opened a secured credit account with Open Sky ($500 limit) and have kept my use to less than 30% each month and have paid. my bill in full each billing cycle. I've seen my credit scores slowly but steadily creep up in combination with my paying my debt down, paying all bills on time, and being responsible with my credit card usage. I decided to apply for the Green Dot Platinum Visa tonight and was approved for a limit of $5000. I will deposit $500 and set it up to pay my monthly bill out of my bank account. The application process was as easy as Open Sky's was and I expect that the benefits will be about the same, which is to say that the only benefit is to be able to prove that you can be responsible for managing your credit card use in exchange for seeing your credits scores increase. I've seen a lot about the whole 10 day waiting period after you pay your bill; I'm cool with that. I use my Open Sky card to pay my Netflix account and buy the occasional tank of gas if needed between pay periods and I'll use the Green Dot card to pay my Hulu subscription. The whole point of this for me is to get a boost to my score before I return to medical school in 2020 (in case I have to apply for a private loan) and put myself in a better position for a home loan (I was approved for 324k VA home loan) with better rates. This card is just part of my strategy to rebuild my credit and I don't expect anything fancy; I will keep the card for a year and then reassess whether or not I should keep it open or close it and apply for a traditional non-secured card.
 
Credit Score: 490 Credit Limit: 300 Age: 18-24
Posted 07/12 2018
Overall Rating:
I just applied for the Green Dot secured credit card, and I was approved for up to $5000. I immediately funded the deposit for $300, and they are now mailing the card (will take up to 7 days). So far the process is smooth and great. I'd definitely recommend this card for those looking to build or rebuild their credit.
 
Credit Score: 580 Credit Limit: 1000 Age: 45-54
Income On Application: $5600
Posted 05/23 2018
Overall Rating:
I recently (January 2018) got the secured credit card through GreenDot. As I travel quite extensively work I thought this would be a great option that would allow me to pay it off conveniently at Walmart or CVS and have instant access to more credit. This was to help with the occasionally rental card deposit snafu's or hotel bookings. One month after having it I rented a car through Hertz. No issue until Hertz ran the charge above my stated business account rate and it pushed me over the limit on the Green Dot card. I contacted Hertz and they immediately reversed the charges which put me back under my credit limit. Green Dot however froze my account as I went over my limit, charged me an over limit charge, and began a fraud investigation. At no point did I ever ask them to do so. This process completely locks down my access to the account. Can't login online, can't make a payment online or at a location, can't do anything. When the fraud investigation began I contacted them multiple times via phone to discuss it. Multiple times I spent over 2 hours on the phone speaking with various people. Finally I was told that my account was locked down because of the fraud investigation and it would take 45 days to resolve it. Later I was told that they were still processing it and expected to have everything completed within 120 days. I've never received a statement so that I can pay my bill via mail nor has anyone contacted me to tell me how to pay my bill. At last contact with Green Dot I was told that I need to pay by my bill to regain access to my account. All emails and calls to the higher ups at Green Dot have not been returned. BEWARE!
 
Credit Score: 430 Credit Limit: 200 Age: 25-34
Posted 01/22 2018
Overall Rating:
This card was rather easy to get. My scores were in the 400s and I have no checking account so it works out well for me because I can make my payments in walmart. Hate the fees though (it is like $4.95 per load). So I only pay at Walmart once a month and no more.

I have not checked my credit reports to see if they report yet but I'll circle back later.
 
Credit Score: 480 Credit Limit: 300 Age: 35-44
Posted 12/11 2017
Overall Rating:
My credit has taken a nose dive and my job situation is shaky. I am using 2 secured cards to help me rebuild my credit - Opensky and Green Dot because I do not need a checking account. With Opensky, I loaded with my debit card. With Green Dot, I could load and pay at Walmart and CVS. You have to pay a fee though if you pay at Walmart or CVS. Snail mail and checking accounts require no fee though snail mail may take 10 days to clear.
 
Credit Score: 504 Credit Limit: 200 Age: 25-34
Approved 1 year after Bankruptcy
Posted 10/20 2017
Overall Rating:
After my BK, I got the Green Dot prepaid card and decided to get the secured card when it was launched. I like that I can pay at Walmart since I shop there once a week. Hate the fees but I guess that is the price of having poor credit. My credit scores have improved over 50 points in the span of 9 months and they do report to all three credit bureaus.
 
Credit Score: 520 Credit Limit: 500 Age: 35-44
Posted 09/03 2017
Overall Rating:
I have a couple of secured credit cards to rebuild my credit and Green Dot is one of them. There are a couple of differences between Green Dot and others which I think I should share.

1. You have to fill in a "pre-approval" form on their website. Kind of strange but I think no other secured cards requires this.

2. You will get approved and the card sent to you before any money is taken from you. For most other cards, you have to fill in your bank account details and routing number and the deposit will be taken before you get the card. With Green Dot, the card will be sent to you after 7 days. You can then go to Walmart or CVS and load your deposit (for a fee). Or you could do snail mail or give them your checking account.
 
Credit Score: 490 Credit Limit: 200 Age: 25-34
Posted 08/16 2017
Overall Rating:
Here is a piece of advice. Do not pay by direct debit. It will take 10 days to post and you essentially have a 10 day hold. Do not do snail mail as well. Same issue. Best is to just go to CVS or Walmart and load and pay your card there. There is a fee but it is the simplest and most convenient and you do not face 10 day hold on your payment.
 
Credit Score: 565 Credit Limit: 300 Age: 35-44
Posted 06/28 2017
Overall Rating:
Green Dot and First Progress are two secured credit cards that I am using now to rebuild my credit. I have an account with Credit Karma and my scores have already gone up 60 points in 5 months. I know it is a FAKO vantage score but still....

Anyway, I just wanted to highlight a couple of things that may not be obvious just reading the details from Green Dot's site. Firstly, they report as secured to the credit bureaus. Wish they could report as unsecured or regular credit but I guess this should not be a deal breaker. The second thing is that when you pay at 7-11, CVS or Walmart, your credit becomes immediately available. If you send your check over mail or direct debit, it will take a few days to clear. It is the same with my previous cards (when my credit was better), it will take at least 24 hours or 48 hours via ACH. But when you load at stores, you get back your credit availability immediately.
 
Credit Score: 540 Credit Limit: 300 Age: 25-34
Posted 04/12 2017
Overall Rating:
Because of job losses, my income has fallen and my credit score has tanked as well. Right now I do not have enough to start a checking account without incurring fees. So Green Dot is kind of ideal for me because I do not need a checking account. I put my deposit and pay my bills all through Walmart (which I go every week).

For those of you in my shoes (without a checking account), this is a good secured to rebuild.
 
Credit Score: 560 Credit Limit: 500 Age: 25-34
Posted 03/24 2017
Overall Rating:
The main reason I got this card is because I do not have any bank account (I would be paying too much fees with the amount I have). So this card is ideal for me. I top up my card (or rather pay my bills) at either CVS, 7-11 or Walmart. The card is quite easy to get. You first fill out a pre-approval form. If you are approved, they will send you a card and you can go to any one of those stores I listed to put your deposit in. There is a fee for paying at a Walmart of 7-11 but your payment becomes available immediately. I checked with the credit bureaus after one month and Green Dots does report as secured.
 
Credit Score: 475 Credit Limit: 300 Age: 35-44
Posted 01/15 2017
Overall Rating:
I have no checking account because of old chex system issues so I chose Green Dot as my go to secured card because you do not need a checking account. I pay mainly at 7-11 and I absolutely love the convenience. There is a fee for each payment so I try to keep it to a minimum. I hope to use this card for a year or so and hopefully, I can get a couple of unsecured credit cards by then.
 
Credit Score: 540 Credit Limit: 200 Age: 25-34
Posted 12/07 2016
Overall Rating:
I got this card because I have no checking account. The card is ok. What I do not understand is why you have to go through a pre-approval process? After all, it is a secured credit card? I pay the card at Walmart but I am not really happy with the fees. But if I pay direct-debit, the hold is 10 days so I'll live with that.
 
Credit Score: 512 Credit Limit: 200 Age: 35-44
Posted 11/28 2016
Overall Rating:
Have had this card for 3 months and just want to highlight what I see as some of the pros and cons.

Pros.
1. You do not need checking account.
2. You can pay at 7-11, CVS etc
3. If you pay at 7-11 etc, your payment clears immediately

Cons
1. Reports as secured
2. Direct debit and mailing check takes days to clear.