Self Visa Credit Card review

Self takes a different route from every other card here. Instead of paying a deposit up front, you open a Self Credit Builder Account and make monthly payments; those payments build credit history and your security deposit at the same time. Once eligible, you apply for the secured Self Visa Credit Card with no additional upfront deposit, and each card payment is reported to all three credit bureaus. Self says no credit check is required to get started. The pricing page shows Credit Builder Account plans of $25, $35, $48 and $150 a month; on the $35 plan you pay $840 over 24 months, including a $123 finance charge at a 15.69% APR, and receive $717 at the end. That interest is the cost of building the deposit slowly. The card requires an active Credit Builder Account and qualification on other criteria, including income and expense requirements. We could not confirm the card's own annual fee from a US page fetch, so check Self's card agreement before applying.

Who it is for

people who cannot put down a lump-sum deposit

Price

See vendor pricing (USD check pending).

US price check pending. See the vendor pricing page.

Key features

• Security deposit is built from Self Credit Builder Account payments, with no additional upfront deposit
• No credit check required to get started
• Card payments are reported to all three credit bureaus
• Credit Builder Account plans shown at $25, $35, $48 and $150 a month
• Issued by Lead Bank, First Century Bank or Sunrise Banks, each Member FDIC

Strengths and weaknesses

• Strength: No lump sum needed to fund the deposit
• Strength: Credit Builder Account and card both build payment history
• Strength: No hard pull to open the Credit Builder Account
• Weakness: Requires an active Self Credit Builder Account first
• Weakness: Card eligibility includes income and expense requirements
• Weakness: Credit Builder Account carries interest: a $35 monthly plan shows a 15.69% APR and a $123 finance charge

Key facts

• Deposit: Built from Credit Builder Account savings
• Credit check: None required to get started
• Reporting: All three credit bureaus
• Credit Builder plans: $25, $35, $48 or $150 a month
• Card annual fee: See vendor pricing (USD check pending)

Where it ranks

Self Visa Credit Card is No. 8 in our Best Secured Credit Cards verdict.