1. Open a Varo Bank Account and set up direct deposit
Open a Varo Bank Account and set up direct deposit to begin the process to qualify for the Varo Believe Program.
2. Apply for your credit card
Once eligible, you’ll be invited to apply for the Varo Believe Program directly in the Varo Bank app.
It’s free — there’s no upfront security deposit and applying doesn’t impact your credit score. See how to qualify here.
3. Use your new credit card for all your purchases
With your new secured credit card, you can make everyday purchases and get cash advances at ATMs. Your spending limit (credit limit) is set by the amount of money you deposit in your Varo Believe Secured Account. Your credit limit cannot exceed your Varo Believe Secured Account Available to Spend balance, up to $2,500 for purchases and $1,000 for cash advances per day, totaling no more than $10,000 total per billing cycle.
4. Monitor your credit score, right in your Varo Bank app
Varo will report on your payment history to the 3 major credit bureaus, which can help you build your credit history.*
You’ll be able to monitor your score right in the Varo Bank app for free. It’s that easy!
*The Varo Believe Program is designed to help you build your credit, however, a variety of factors impact your credit, including payment history, utilization, derogatory marks, account age, total number of accounts, and inquiries — not all factors are equally weighted. Building your credit may take time and is a process, but the Varo Believe Program may be able to help.