Varo Believe is a secured credit card designed to help you build credit.1
Believe is easy to use, simply move funds into your Varo Believe Secured Account to make everyday purchases with your Believe Card to help establish or rebuild credit1 without the need for a traditional credit line. You can also use your Believe Card with Varo’s Bill Manager to pay your recurring bills and subscriptions.
After moving funds into your Secured Account your Believe Card is ready to make purchases. The funds transferred to your Secured Account are used to pay off your card balance each month. Varo reports your monthly balance payments to the three major credit bureaus.
We recommend turning on Safe Pay to automatically make the payment for you at the end of every statement cycle.2 Making on-time payments is the primary way to help improve and establish the credit you need to help secure your financial future.
- After qualifying, you can easily apply for Believe by tapping Varo Believe on the app homescreen.
- To start using Believe, move money to your Secured Account to cover your purchases, either via direct deposit using Move Your Pay®️, or manually from your Varo Bank Account.1
- Spend with Believe or everyday purchases, recurring bills, or subscriptions. No need to wait for your physical card to arrive—you can enable your digital wallet to begin right away.
- Turn on Safe Pay to make on time payments automatically. Alternatively, you can make manual payments by transferring funds from a linked account, your Bank or Believe Secured Account, or mail us a check.
- Track your credit score in the app and monitor your progress month to month. Your credit score will appear on the home screen under Tools.3
Varo Believe has no upfront security deposits, annual fees, maintenance fees, international fees, or Annual Percentage Rate (APR) interest charges. With Believe you can withdraw cash from ATMs or make purchases anywhere credit cards are accepted, including for hotels and car rentals.
Be sure to pay your balance in full by the statement due date each month, or your Varo Believe Card may be suspended. Remember, turning on Safe Pay is a great way to automatically make those payments on time! Late payments are reported to the credit bureaus and may negatively impact your credit history. It can take up to 6 weeks for Believe payments to show in your credit score updates.
You can pay your balance at the end of every statement cycle automatically and on time using Safe Pay. If you choose not to use Safe Pay, you will need to make manual payments from your Varo Secured Account or another linked account. To make a payment, ensure Safe Pay is turned off and then tap Pay card on the Varo Believe screen.
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1The money added to your Varo Believe Secured Account sets the spending limit for your Believe Card. You must move money into your Secured Account before using the card. Funds spent are held in your Secured Account to pay off any balance in full monthly, when due. Quals apply.
2By enrolling in Safe Pay, you authorize Varo Bank to auto pay your Varo Believe Card balance in full at the end of your billing cycle from funds in your Varo Believe Secured Account, before your actual due date. If the amount owed is more than your Secured Account balance your payment will not be made. You will have twenty-one (21) days to deposit additional funds to make your payment on time.
3Varo displays credit data at our discretion to customers that opt in.
*Any direct deposit via Automated Clearing House (ACH) from an outside financial institution to your Varo Bank Account using your Varo Bank Account and routing numbers is eligible for Move Your Pay®. This includes payroll, government benefits, tax refunds, and other payments to the extent that can be identified. Move Your Pay® does not work with in-app transfers from your Believe Secured Account or instant transfers to your Varo Visa® Debit Card—like transfers from Uber Instant Pay and Lyft Express Pay, for example. To review our terms and disclosures, please revisit the Varo Believe Program Agreement, which can be found on our Privacy and Legal web page. Find the Privacy and Legal page here: https://www.varomoney.com/privacy-legal/.
The Varo Believe Card is issued by Varo Bank, N.A. pursuant to a license from Visa U.S.A. Inc.