Primor Credit Card

Green Dot Primor Visa Gold Secured Credit Card is a secured credit card that can help in rebuilding the credit. Your credit limit is determined by the initial deposit you make. There is a $200 – $5,000 range for security deposits and credit limitations.

Suggested Read: Negative Balance on a Credit Card

What is a Secured Credit Card?

A secured credit card is one that requires a deposit of money from the cardholder before they can use it. It serves as collateral for the account, giving the card issuer peace of mind in the event of a non-payment by the cardholder.

Who Should Get Primor Visa Credit Card?

A secured credit card like the Green Dot Primor Visa Gold Secured Credit Card is ideal for those who want to enhance their credit score but don’t have the financial flow to pay off their debt each month. Low APR secured cards are a good option if you have no or bad credit and can’t avoid paying interest. This will help you develop a good credit history as you pay off your debt.

If you deposit a significant amount of money while applying for the card, the credit limit might be as high as $5,000. Lenders prefer that you use no more than 30% of your available credit, so a greater credit limit gives you more breathing room.

There is an annual fee and additional costs associated with this card, but it has one of the lowest interest rates of any secured credit card available on the market right now. If your aim is to rebuild your credit and you plan to have a balance on your card for the foreseeable future, the interest savings may be worth the expense.

To give a better idea about Primor Cards, let’s elaborate further on the Pros and Cons of these cards.

Getting credit card is becoming easier day by day. You can get your First Progress Platinum card without showing any credit history.

Pros of Primor Credit Card:

There are some reasonable benefits of having a Primor Visa Credit Card, which includes the following:

You Can Manage Your Credit Utilization Ratio:

When utilized correctly, the requirement for a security deposit on secured credit cards maybe even more helpful than an unsecured credit card. Because you choose the deposit amount, you have control over your credit limit, not the credit card company. For the most part, $300 is the maximum initial credit limit for subprime unsecured credit cards. If you have terrible credit, you shouldn’t expect credit card providers to start off with a large limit, right? That’s a pittance. Some card providers, such as Credit One, have a history of increasing your credit limit over time. While others, such as Milestone and Indigo, do not.

Most bad-credit unsecured credit cards only allow you to charge $300 to $500. So you can’t put a lot on the card. For some people, this might not be an issue at all. In the case of automobile rentals, however, providing a credit card number to guarantee your reservation may provide difficulty. You can solve this with a secured credit card with a large enough deposit. This will give you a greater credit limit on your report.

You Have the Option of Moving up to an Unsecured Card With the Same Bank:

In addition, if you acquire a secured card from a well-known issuer, you may be eligible to transition to an unsecured card in the future. As an illustration, consider Discover. No annual charge, the same cashback program `as the Chrome card, and free access to your FICO score are all perks of their protected card. Discover will examine your account and upgrade you to an unsecured card if you have no credit history. There is no change to your card number, you get your deposit back, and you may simply continue to use the same card going forward. You may possibly see an increase in your credit limit.

Credit Building:

Using a secured card has several advantages, the most important of which are similar to those of ordinary credit cards in that they report to all three main credit bureaus (Experian, Equifax, and TransUnion). It’s possible that some people will classify your card as secure, while others will classify it as insecure. Credit bureaus, on the other hand, don’t care. Having a low credit usage percentage and making on-time payments are important.

Cons of Primor Credit Card:

Despite the pros, there are some cons to the Primor Card too, these cards are great for credit building. There is no denying that, but before having one, you would want to know some of the cons too:

Customer Service:

There are more than a few bad reviews about below-par Customer Service and response time in problem resolving of Primor Credit Card issuer. Even when it offers so much compared to other issuers and cards, Primor has several bad reviews regarding their customer service on Trust Pilot.

Deposit Cannot Be Accessed as Long as the Secured Credit Card Is Open:

If you open a secured credit card, you will have no access to your security deposit money. Many people think you may pay your credit card debts with a security deposit. That’s not how it works; the security deposit serves to safeguard the issuer in the event that you default on your payments and lose access to your credit line. So long as the secured credit card is open and being used, you can not use your funds. Only if you close the card or if it becomes an unsecured credit card will you recoup your deposit.

Security Deposit:

Using a secured credit card has the disadvantage of requiring an upfront deposit. Many of you have been discouraged from purchasing one because of this. Due to your inability to pay your payments in a timely manner, some of you have had your credit tarnished, while others have been placed in collections. You couldn’t pay your expenses since you didn’t have enough money. Rebuilding your credit should be the last thing on your mind if you are still in this predicament. If you don’t make enough to cover your expenses, no amount of rebuilding or use of credit cards can help.

Miscellaneous Fees:

This card, which comes with a $49 annual charge, has several costs you won’t find on other cards, such as foreign transaction fees and foreign ATM fees.

If your card is lost or stolen, you’ll have to pay $29 to acquire a new one, add another user, or have your account restored. If your credit limit is increased without a deposit, you’ll be charged up to $49 for the privilege. More than twice a month on Green Dot’s automated phone line costs 50 cents per call. In addition, you’ll be hit with an APR of 18.99 percent for cash advances from the time they’re charged until they’re paid off.


In the long run, secured credit cards are still a great way to start again with your credit. I’d look for one that has no yearly cost and permits you to graduate. If you’ve previously been turned down, look into loans that don’t run your credit.

In a nutshell, Primor Credit Card is ideal for People with poor credit who are trying to restore their credit and have been rejected by other no-fee credit cards.

Disclaimer: All the information published here are for informational and educational purposes only. Moreover, all these information are researched from official sources. However, we will not warranty the information to be accurate and completed. Do not share your bank details or personal details in the comment box. For more queries visit the official website.

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