The secured Self Visa® Credit Card review: A unique take to bolstering your credit profile
Pairing a secured credit card and a credit builder loan is a one-two punch that jump starts your credit-building journey.
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Snapshot
3.1
Bottom line
With recent changes to the secured Self Visa Credit Card, it’s easy to start building or repairing your credit with either a $100 minimum deposit or a credit-builder loan to secure the card account.
Best for building a credit mix
Regular APR
28.24% APR Variable
Annual fee
*$25
4.2
Cardholder rating
Extra perks
Meets needs
Online tools
Customer service
3.1
Bankrate score
Cost of membership
Ease of building credit
APR
Features
Why you'll like this: It helps you build credit and save money with monthly payments into a savings account that secures a credit limit on the accompanying secured credit card.
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The secured Self Visa® Credit Card1 overview
If you’re working on getting a credit card and you’ve considered self-reporting credit services or credit-builder loans to help your score, the secured Self Visa Credit Card might be a convenient combo for you.
Previously, the card required at least three monthly payments of $25 minimum into its connected Credit Builder Account to open the card. But Self updated the card in January 2025 and now it requires just a $100 minimum security deposit to get started. If you don’t want to put down $100 at once to open the card, you can still use the Credit Builder Account and eventually fund the security deposit.
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Rewards
- This card does not offer rewards
Expert Appraisal: Typical
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Rates and fees
- Limited-time offer: $0 annual fee the first year, *$25 thereafter
- 28.24% APR Variable
- *$0 annual fee for the first year only. $25 annual fee after. 28.24% Variable APR. Limited time offer.
Expert Appraisal: Unimpressive
See our expert analysis -
Credit-building features
- No deposit required
- Improves credit mix
- No hard pull on your credit report
- Reports to the three major credit bureaus
Expert Appraisal: Good
See our expert analysis
The secured Self Visa® Credit Card pros and cons
Pros
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You can qualify for a credit card with no additional security deposit or hard credit inquiry.
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Issuer reports loan and card payments to all three credit bureaus, improving your credit mix.
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Provides basic Visa credit card benefits and can be used wherever Visa cards are accepted.
Cons
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It’s possible to simultaneously owe both credit card and credit-builder loan interest, limiting this product's affordability.
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The card’s ongoing annual fee adds another cost that could be difficult for credit builders or rebuilders to shoulder.
How the secured Self Visa® Credit Card works
While customers can be eligible for the secured Self Visa with a minimum $100 deposit, you can also use a Credit Builder Account to be eligible for the card. This account is similar to a credit-builder loan, and Self holds it in a certificate of deposit (CD) account, which accountholders pay off in fixed, monthly installments. You apply for the account with Self and choose a pay-off plan at varying interest rates. Then, you start making payments, plus applicable interest and fees, for 24 months until you pay off the amount.
After you make three on-time payments totaling at least $100, you’re automatically eligible for the secured Self Visa credit card. You can then choose your security deposit amount and starting credit limit based on what you’ve deposited into the Credit Builder Account. Then, you can order the card and receive it in the mail. Once you have the card, it works like any other secured credit card, and you can start using Self’s card and account to build your credit score.
Why you might want the secured Self Visa
This card and credit builder loan combo can be great if you want to start building credit but want to forgo the security deposit or hard credit inquiry. You may be able to boost your score because the secured Self Visa provides a unique approach to credit building that traditional cards can’t match.
Credit-building features: Improve your credit mix without a hard pull
The Self card and account combo expands your credit mix beyond credit utilization and reporting to include a loan account balance. A combo like this could improve the rate at which you build credit because your credit mix accounts for 10 percent of the overall factors impacting your score.
Making a fixed loan payment each month demonstrates that you are a responsible borrower with ongoing financial stability. Although credit utilization and payment history make up most of how credit bureaus calculate your credit score, meeting a regular financial obligation can only help you — no matter how big the balance is.
It’s possible to build credit without a credit card — a credit-builder loan is just one way — but it may be helpful to complement your credit-builder account with a credit card. However, if you’re exploring your credit-building options, you could start with the credit-builder account without the card and ease your way into the full benefits of this product later on.
No security deposit: Access a decent line of credit without a deposit
The secured Self Visa card does not require a traditional secured credit card deposit. It does require you to meet a minimum deposit amount, but those funds will come directly from your credit builder loan account — which is unavailable for you to withdraw from in the first place.
After meeting eligibility requirements, you can open your card account without additional financial commitment. If you were to open a different secured card, you’d need to put down a security deposit. However, another secured card would not give you the opportunity to establish a healthy credit mix with both a loan and card account. You could open a secured card and a credit-builder loan independent from one another, but then you’d be potentially juggling multiple banks and apps just to stay on top of your finances.
The Self card and account combo consolidates the money you deposit in one place. Plus, once your credit builder account’s term ends, you’ll earn your deposit plus all monthly payments back (minus finance charges, a one-time administrative fee, any unpaid card balance and interest charges).
Why you might want a different secured card
Although the secured Self Visa and account combo can be great for building credit, there may be better choices for most credit builders. If you want to keep costs low and credit-building simple or to start building credit right away, you may be better off with a traditional secured card or another credit-building card.
Annual fee: This card costs more to hold than other options
After the first year this card costs *$25 annually. This cost is on the low end of credit card fees, but other secured cards usually don’t charge them.
Secured credit cards require refundable deposits to get started. However, these start-up costs are returned to you when you close your card account in good standing. The Self charges the card’s *$25 annual fee every year (after the first year) in addition to any initial deposit you transfer from your Credit Builder Account. Although the card can be costly to your credit-building strategy, it may be worth the extra cost if you want a healthy credit mix on your credit report.
If you aren’t interested in paying fees in addition to a deposit and the potential interest charges that come with using credit, you might be better off with a secured card with low or no fees.
*$0 annual fee for the first year only. $25 annual fee after. 28.24% Variable APR. Limited time offer.
Finance charges: Costs may be greater than other secured options
In addition to your annual fee after the first year and potential interest charges, the secured Self Visa is linked to a required Credit Builder Account with finance charges.
You’ll pay a finance charge with your credit builder account based on your chosen payment plan. This amount can be anywhere between $25 and $150. Pricing information on Self’s website can give you a better idea of how much you should expect to pay.
You’ll build credit history as you make payments, but this makes the secured Self Visa a relatively costly card. Considering the money you pay each month will sit in your deposit account until your loan term ends, it can mean tying up thousands of dollars into an account you can’t withdraw from for up to two years.
Consider the minimum credit builder account payment of $25 monthly. Over two years, this is $600 of your money you can’t use — except for expanding your card’s credit limit. Then, when you close your account, Self will charge you an $89 finance charge and any other outstanding charges before returning the remainder of your deposit to you. Comparatively, this deposit amount is much more than the minimum required on a secured credit card. Over two years with another secured card, you could build credit using a lower deposit amount and possibly benefit from credit limit increases or account reviews that open the gate to unsecured cards.
A diverse credit mix is a great way to build credit, but traditional secured cards can be more affordable if you just want to hold a credit card to build credit with.
Staff experience: Here’s what our experts say
Bankrate's editorial staff aren't strangers to building credit, and cards like the secured Self Visa can help people (us included) build credit and qualify for other cards with higher credit limits, no security deposits and even rewards. Even though the secured Self Visa card doesn't require the Credit Builder Account for eligibility, it can still be useful. Here's what we think:
Bankrate staff insights
At first, I wasn't happy about tying my credit limit to the amount I deposited in my credit-builder loan. But as my account grew, so did my credit limit. It helped me establish a strong payment history and was a boon to my credit utilization ratio. I will have completed my two-year loan in March 2025. The card helped me reach my goal of boosting my credit score, allowing me to apply for more mainstream unsecured cards.
Benét J. Wilson, Bankrate lead credit cards writer
I never liked the idea of tying up money for months on end in a security deposit, so I like that you don’t need an upfront deposit for this card — you can just pay a low annual fee as you build a better score. One thing I learned when starting my credit journey was to check my score frequently and move on as soon as I was eligible for better cards. I wanted to get out of credit-building mode as quickly as possible, so I wouldn't be stuck paying excessive fees and missing out on rewards.
Ryan Flanigan, Bankrate credit cards writer
How the secured Self Visa compares to other secured cards
Although it may boost your credit score, Self’s credit-builder loan and secured card combo may complicate the credit-building process with extra costs and restrictions. It’s easy to see how paying a security deposit for a traditional secured card may be better overall for those able to afford it up front.
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Intro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Rewards rate
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Earn unlimited 1% cash back on all other purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Who is the secured Self Visa® Credit Card right for?
The secured Self Visa Credit Card isn’t the best choice for everyone, but it may be the right card for you if you identify with these groups:
Bankrate’s Take — Is the secured Self Visa worth it?
The secured Self Visa Credit Card allows anyone with limited or damaged credit to build their payment history on two different credit lines: a loan and a credit card. This tool can be great if you want to build credit quickly with a credit-builder loan and a card but want to avoid multiple hard credit checks. However, the additional costs and restrictions you’ll face from tacking on a credit-builder loan could make traditional secured cards more affordable options.
*Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval. The secured Self Visa® Credit Card is issued by Lead Bank or First Century Bank, N.A., each Member FDIC.
How we rated this card
Our proprietary card rating system takes into account a mix of factors when scoring credit cards for students and people building credit, including each card’s cost, APR, credit-building tools and more.
We analyzed over 50 of the most popular cards designed for students and people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category.
Here are some of the key factors that gave this card its score:
Frequently asked questions
What cardholders think
The secured Self Visa® Credit Card1
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
