A number of factors determine your eligibility to apply for Varo Line of Credit, including:
- Direct Deposit amounts
- On-time Believe Card payments
- On-time Varo Advance payments
- Healthy account balances*
Check if you’re eligible to apply by clicking the Line of Credit tile. If you’re not yet eligible, you’ll see a list of action items you can take to boost your chances of becoming eligible. We review eligibility daily, so keep an eye on your app. We can’t expedite this process, but as soon as your account is eligible, you’ll see the option to Qualify Now the app.
When you tap on Qualify Now, answer a few questions and we’ll pull a soft credit check to determine if you’re pre-approved for a Line of Credit offer. A soft credit check doesn’t impact your credit score. If you are pre-approved, you will be able to submit an application.
Application
If pre-approved, you’ll see the offers you’re eligible for, up to the maximum amount, along with the payment schedule and Terms for each offer.
Select your offer from your Line of Credit tile and follow the prompts to submit an application. You’ll be asked to confirm your personal information and income, agree to the Terms for the loan, and to a hard credit check, before receiving a decision on your application in seconds.
*Healthy account balances generally means maintaining a positive balance. When you keep higher available balances between deposits, you build towards better account health.