You can get a Self Visa® Credit Card return by closing your account with no unpaid balance. If your Credit Builder Account is still active when you close your credit card, the security deposit will be returned to your Credit Builder Account. If your Credit Builder Account is already closed, your security deposit will be returned to you via check or ACH within 10-14 business days.
The only cases where you will not get your full deposit back from a Self Visa® Credit Card are if there is a balance remaining when you close the account or if you default on your payments. In those cases, Self will use the deposit to recoup what you owe them.
So, don't worry about putting up a deposit when you get a Self Visa® Credit Card. You're not parting with any of the money for good, as long as you pay off your balance. The deposit just gives the issuer a guaranteed way to recoup their money if you don't pay.
You can get a Self Visa® Credit Card limit increase by either adding more money to your Credit Builder Account or adding an unsecured portion to your credit limit. Here's how you can get a limit increase for this card, in more detail:
You can increase your Self Visa® Credit Card's credit limit by adding money to your Credit Builder Account. More specifically, once you've made enough savings progress in your Credit Builder Account you will see an alert in your account dashboard that you are eligible to increase your credit limit.
Your Credit Builder Account and credit card accounts must be in good standing to increase your credit limit. The credit limit can be increased in multiples of $25 at a time. The credit limit increase will be secured by money from your Credit Builder Account, the same as when you opened the credit card.
Self regularly reviews and evaluates your account to see if you are eligible to receive an unsecured credit limit increase that will be added to your existing credit limit. To qualify, you must keep your account in good standing, among other things.
For new purchases, Self will use the secured portion of your available credit limit first. Once the secured limit is used up, new purchases will leverage the unsecured portion of your credit.
You cannot qualify for Self Visa® Credit Card graduation because Self doesn't offer any fully unsecured credit cards, at this time. However, it's possible for your secured card to become “partially unsecured” if you demonstrate positive usage of credit.
Self regularly reviews and evaluates your account to see if you are eligible to receive an unsecured credit limit increase that will be added to your existing credit limit. To qualify, you must keep your account in good standing, among other things.
For new purchases, Self will use the secured portion of your available credit limit first. Once the secured limit is used up, new purchases will leverage the unsecured portion of your credit.
Yes, Self offers credit-builder loans. Self has credit-builder loans of $520 - $1,663 with an APR range of around 15% and repayment periods of 12 - 24 months. To apply for a credit-builder loan from Self, you need to be at least 18 years old, be a U.S. Citizen, permanent resident, or non-resident U.S. Alien and have an Social Security.
With a credit-builder loan, Self puts a sum of money into a no interest bearing account for the “borrower.” That person then pays the lender in monthly installments, plus interest, and receives the money in the savings account at the end of the loan term.
Self also offers other options to improve your credit if you think a credit-builder loan isn't right for you, like credit card.
Yes, you can use your Self Visa® Credit Card anywhere Visa is accepted in the U.S.
But if you're looking for a credit card that's accepted internationally, check out our list for the best travel credit cards to find one you like.
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