Varo Believe has no annual fees, no maintenance fees, no international fees, and no interest charges. We report your payments to the 3 credit bureaus and you can monitor your credit score directly in the Varo Bank app.
To help avoid missing a payment, turn on Safe Pay. In the Varo Bank app, tap your Varo Believe Card from the home screen > Safe Pay > Turn it On.
With Safe Pay, we’ll use the funds already locked in your Varo Believe Secured Account to pay your statement balance automatically each month*, so you won't miss a payment. Having on-time repayment history can help build up your credit score. If you prefer not to use Safe Pay for automatic payments, you can always do manual payments from a linked account or your Varo Believe Secured Account, or mail us a check. Keep in mind that if you choose to pay with a linked account or via check, the funds in your Varo Believe Secured Account will be made available for you to spend using the Varo Believe Card 3 business days after we receive your payment in full.
*By turning on Safe Pay, you authorize Varo Bank to automatically pay your monthly credit card statement at the end of your billing cycle from the money you previously added to your Varo Believe Secured Account, before your actual payment due date.