Green Dot actually has a secured card... Didnt know that...

[joltdude]

While browsing news that Primor got bought out by Green Dot i went looking around the web.....

Seems that Green Dot of prepaid card fame.. is offering a secured card... NOT prepaid.....

https://www.greendot.com/platinum/

Anyone have any experience with this product.... already know that Green Dot is a subprime bank.....

Just want to know if anyone has had dealings with this product and how it compares to some of the other subprime products ....

Folks need to know the options and what the gotchas are..

-J

[BearsAndTurtlesRtheBest]

This is new to me.

[Anonymous]

$39 AF and no way to graduate. Not great, but it sure seems better than Credit One!

I've received a couple of their prepaid cards as gifts over the years and haven't had any issues, so there's that.

[Anonymous]

I just made my initial deposit of $200 in cash at CVS with a transaction fee of $4.50. I brought extra cash to immediately pay the $39 annual fee but is hasn’t hit my account yet. I am currently working on building my credit so I can become eligible for a Chase Sapphire card and I understand that in order to reach my goal I have to bite the bullet on some things. Like cards with crazy fees. But I will keep you posted on if I see a significant change in my credit score from this card and if it’s worth it.

[Anonymous]

Hi,
Just wanted to find out about your Green Dot Secured. Any updates you'd like to share? Has it reported, and challenges?

[Anonymous]

I thought the discover it secured card didn't need any credit history...if that's true why not just get that? No annual fee, graduate to the regular it card, etc...maybe self lender to help build credit history?

[Geordi]

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@joltdudewrote:

While browsing news that Primor got bought out by Green Dot i went looking around the web.....

Seems that Green Dot of prepaid card fame.. is offering a secured card... NOT prepaid.....

https://www.greendot.com/platinum/

Anyone have any experience with this product.... already know that Green Dot is a subprime bank.....

Just want to know if anyone has had dealings with this product and how it compares to some of the other subprime products ....

Folks need to know the options and what the gotchas are..

-J

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Yeah well that is because in July / August 2017, Berkshire Bank sold their Primor Secured Card division to Green Dot.

At the time I had two Primor secured cards and I was in the final stage of rebuilding.

I closed both Primor cards as soon as I received mail from Berkshire Bank that their secured card line was being sold to Green Dot.

It took 8 weeks for Green Dot to refund my security deposits and I haven’t looked back since.

It is not that I knew anything bad about Green Dot, just something told me to get out now and I did.

Hope that helps.

[Anonymous]

From personal experience and going through a rebuild myself. Capital One Platinum Secured and Discover IT helped me A LOT in my rebuild. 

You want to be careful with the fine print on these cards in regars to how they add interest on purchases. Some of these with annual fees that many don't use start charging on the date of posting. 

Capital One will be good to you, as long as you're responsible with them.

best of luck!