Varo Believe is designed to help establish or rebuild credit1, and we don’t check your credit score when you apply.
Since Believe secures the funds for your owed balance, we repay your balance at the end of every statement cycle automatically and on time using Safe Pay. If you choose not to use Safe Pay to ensure payments are made on time, you will need to repay manually from your Varo Secured Account or another linked account.
We'll report your payments to the 3 major credit bureaus and provide credit monitoring directly in your Varo app, which can help you build your credit through consistent on-time full payments.
You can also monitor your VantageScore 3.0 credit score from the Varo Bank app for free.2
1A variety of factors impact your credit and not all factors are equally weighted.You must add money before using, money added sets the spending limit. Funds spent are held in your Varo Believe Secured Account to pay off any balance in full monthly, when due. Quals apply.
2Varo displays credit data at our discretion to customers that opt in.