Varo Believe helps you build credit with no fees and no interest. Traditional credit cards generally come with fees and interest.
Traditional credit cards require an acceptable credit history to have already been established.
Credit limits also work differently with Varo Believe; your spending limit is your credit limit and is established by the Available Balance of your Varo Believe Secured Account, up to a maximum of $2,500 per day for purchases, $1,000 per day for cash advances at the ATM, to a maximum of $10,000 per billing cycle total for all purchases and cash advances.
Because Varo Believe offers a secured credit card, each time you make a purchase or cash advance on your card we’ll secure the transaction amount in your Varo Believe Secured Account. Each month we’ll send you a statement at the end of your billing cycle, and the money in your Varo Believe Secured Account can then be used to pay your monthly statement balance.