Self Secured Credit Card: A Complete Guide to Building Your Credit

The Self Secured credit card represents an innovative solution for Americans who want to build or rebuild their credit history. Developed by Self Financial, Inc., a fintech company based in Austin, Texas, this financial product stands out in the market for not requiring a hard pull credit check for approval. The card is issued by FDIC-certified partner banks, including Lead Bank, Sunrise Banks, and First Century Bank, ensuring security and reliability for users.

Unlike traditional credit cards, the Self Secured card works through a security deposit that determines the available credit limit. This feature makes the product accessible even to people with low credit scores or no established credit history. With over 250,000 reviews and an average of 4.9 stars on the App Store, Self has earned the trust of thousands of Americans seeking to improve their financial health.

How to apply for a Self Secured Credit Card

Applying for the Self Secured card is a simplified process that differs significantly from conventional cards. The main advantage is the absence of a rigorous credit check, meaning your application will not negatively impact your credit score. Since January 2025, the card has been available to the general public, eliminating the need to have a Credit Builder Account with the company beforehand.

To qualify, you need to meet the basic income and expense requirements set by the institution, in addition to providing a minimum security deposit of $100. This amount can be deposited through a bank account, debit card, or optionally, through a Self Credit Builder Account.

1. Access the Self platform – Go to the official website www.self.inc or download the Self – Credit Builder & Cash app available on the App Store (iOS) or Google Play Store (Android).
2. Locate the card application – On the home page, find the option “Apply for Secured Self Visa Credit Card” or similar to start the application process.
3. Fill in your personal information – Cmplete the form with your full name, home address, Social Security number, date of birth, and contact information.
4. Report your financial situation – Provide details about your current monthly income and main expenses for eligibility assessment.
5. Choose the deposit amount – Select how much you want to deposit as security, between $100 (minimum) and $3,000 (maximum). This amount will be your initial credit limit.
6. Connect your bank account – Link your bank account or debit card through the Plaid platform to securely make the security deposit.
7. Review the terms – Carefully read all terms and conditions, including the annual fee of $0 in the first year and $25 thereafter, plus the APR of approximately 28%.
8. Submit your application – After reviewing all the information, submit your application and wait for approval, which is usually immediate.
9. Await your physical card – Once approved, your card will be sent to the registered address within 7 to 10 business days.
10. Activate your card – When you receive it, activate the card through the Self app or by calling (877) 883-0999 to start using it.

What is the Card Brand?

The Self Secured card operates under the Visa brand, one of the most widely accepted payment networks globally. As a Visa card, the Self Secured can be used at millions of establishments that accept Visa in the United States, including physical stores, e-commerce, restaurants, gas stations, and subscription services. The Visa brand offers robust security features, such as the Zero Liability Policy, which protects cardholders against fraudulent transactions.

In addition, the card is compatible with popular digital wallets, including Apple Pay, Samsung Pay, and Google Pay, allowing contactless payments at terminals equipped with NFC technology. However, it is important to note that the Self Secured Visa Card has a limitation: it cannot be used for international transactions or while traveling outside the United States.

What are the card fees?

Understanding the Self Secured fee structure is essential for making an informed decision. The card offers a $0 annual fee promotion for the first year for new customers. After this introductory period, the annual fee becomes $25, charged on your statement and renewed annually. This rate is competitive when compared to other secured credit cards on the market, although there are no-annual-fee options available.

The card’s APR (annual percentage rate) is variable and is fixed at approximately 27.99% to 28.24%, depending on market conditions. This rate is significantly higher than the average for traditional credit cards, but is in line with other secured cards. Therefore, it is strongly recommended to pay the full balance every month to avoid interest charges. As for additional fees, the card charges a late fee of $5 if the minimum payment due is $25 or less, or $15 if the minimum payment exceeds $25. The fee is applied after a 15-day grace period following the due date.

There is also a return payment fee of up to $15 for payments that fail, such as bounced checks or rejected bank transfers. On the plus side, the card does not charge foreign transaction fees, cash advance fees (as cash advances are not available), or balance transfer fees. The security deposit is fully refundable when you close the account in good standing, provided there are no outstanding balances.

Understanding the Self Secure Card

The Self Secured Credit Card was specifically designed to serve a population often neglected by the traditional financial system: people with low or nonexistent credit scores. According to Experian data, approximately 29% of Americans have credit scores in the poor to fair range (below 640 points). For these people, obtaining a conventional credit card can be extremely challenging, creating a vicious cycle where it is impossible to build credit without having credit.

The card’s operation is based on the concept of a secured credit card, where the user provides a deposit that serves as collateral for the financial institution. This model significantly reduces the risk for the issuer, allowing them to approve applicants who would be rejected in traditional applications. Self’s great innovation lies in allowing users to gradually fund this deposit through their Credit Builder Account, although this will no longer be mandatory.

Studies demonstrate the effectiveness of this approach. According to a 2024 TransUnion study, customers who opened a 24-month Credit Builder Account with Self in the first quarter of 2023, with an initial VantageScore 3.0 below 600, saw an average increase of 47 points in their credit score by the 12th month, provided they maintained timely payments.

What are the main benefits of a self secured credit card?

The Self Secured card offers a range of advantages specifically designed for those starting their credit-building journey or seeking to rebuild a compromised financial history. The differentiating factor of this product lies in the combination of accessibility, low initial investment, and robust security features, making it an attractive option for millions of Americans who do not qualify for traditional credit cards. Below, we list the main benefits that make Self Secured an effective tool for improving your financial health.

• No Hard Credit Check – You can apply without worrying about negative impacts on your credit score, as there is no hard pull during the application process.
• Reporting to the three major agencies – All card activity is reported monthly to Equifax, Experian, and TransUnion, ensuring that your responsible behavior is widely recognized.
• Affordable initial deposit – With just $100, significantly less than most competitors who require $200 or more, you can start building credit.
• Credit Limit Flexibility – Option to increase your limit by depositing additional amounts in $25 increments, up to a maximum of $3,000, adapting to your needs.
• Fully Refundable Deposit – The deposited amount is fully returned when you close the account in good standing, unlike fees that are not returned.
• Visa Zero Liability Policy – Complete protection against fraudulent transactions. If your card is lost or stolen, you will not be held liable for unauthorized purchases.
• Compatibility with Digital Wallets – Works seamlessly with Apple Pay, Samsung Pay, and Google Pay, allowing for secure and convenient contactless payments.
• Possibility of Automatic Limit Increase – After six months of responsible use, you may be automatically considered for a credit increase without the need for an additional deposit.
• Access to the Free Mobile App – Complete account management, transaction viewing, bill payment, and free monitoring of your credit score.
• Path to an unsecured card – Customers who keep their card for six months with payments up to date may qualify for the Self Plus Credit Card, an unsecured card.
• Included educational resources – Access to educational materials within the app to help you better understand how credit works and make informed financial decisions.
• High approval rate – More accessible approval process compared to traditional cards, ideal for those with low or nonexistent credit scores.

How to Download the Self Secured Credit Card App

The Self – Credit Builder & Cash app is available for free on iOS and Android devices, offering complete management of your card and other Self products in an intuitive and easy-to-use interface. With over 250,000 reviews on the App Store (average of 4.9 stars) and over 1 million downloads on Google Play, the app has become an essential tool for those seeking to build credit in a practical and convenient way. The app allows you to monitor transactions, make payments, view your credit score for free, and receive real-time notifications about your card activity.

Step-by-step to download on iPhone/iPad (iOS):

1. Open the App Store – Locate the blue App Store icon on your Apple device’s home screen.
2. Search for the app – In the search field, type “Self Credit Builder Cash” or “Self Financial”.
3. Identify the correct app – Look for the app developed by “Self Financial, Inc.” with the official Self icon.
4. Start the download – Tap the “Get” button next to the app.
5. Authenticate the download – Use Face ID, Touch ID, or enter your Apple ID password to confirm the installation.
6. Wait for installation – The app will be downloaded and installed automatically on your device.

Step-by-step to download on Android:

1. Access the Google Play Store – Open the Google app store on your Android smartphone or tablet.
2. Search for the app – Type “Self Credit Builder Cash” in the search bar.
3. Verify the developer – Make sure the app is published by “Self Financial, Inc.” and has good reviews.
4. Tap Install – Click the green “Install” button to start the download.
5. Accept permissions – Confirm the permissions requested by the app for proper functioning.
6. Wait for completion – The app (approximately 79 MB) will be downloaded and installed automatically. Use Wi-Fi to save mobile data.

How to Request a Second Copy of Your Self Secured Credit Card

Losing or having your card stolen can be stressful, but Self offers a simplified replacement process. To request a replacement for your Self Secured Card, there are two main options. The first and most convenient is through the Self app. After logging in, access the card settings or management section, usually identified by a card icon or side menu. Look for the option “Report Card Lost/Stolen” or “Request Replacement Card”.

Select the reason for the replacement: lost, stolen, damaged card, or simply the need for renewal. If the card was stolen or you suspect fraudulent use, it is crucial to report it immediately so that the card is blocked and you are protected by Visa’s Zero Liability Policy. Confirm your current delivery address to ensure the new card arrives at the correct location. Self does not charge a replacement fee.

Alternatively, you can request a replacement by calling Self customer service at (877) 883-0999. Customer service hours are Monday through Friday, 7:00 AM to 6:00 PM (Central Time – CT). Be prepared to provide identifying information such as your full name, the last four digits of your Social Security Number, date of birth, and address.

Self Secured Credit Card Contacts

Self Financial offers multiple service channels to ensure you receive support when needed. The main customer service number is (877) 883-0999, available Monday through Friday, 7:00 a.m. to 6:00 p.m. Central Time (CT). This number can be used for general questions about your card, technical issues, duplicate card requests, billing clarifications, discussions about your credit limit, or any other questions related to Self products. Please note that telephone service is not available during U.S. national holidays.

For non-urgent matters or if you prefer written communication, you can email [email protected]. This address is monitored by the technical support and customer service team, who generally respond within 24 to 48 business hours. For legal or formal matters, the contact email is [email protected]. If you need to send physical mail, Self Financial’s corporate address is: Self Financial, Inc., 515 Congress Avenue, Suite 2200, Austin, TX 78701.

The official website www.self.inc offers an extensive support section and FAQ (Frequently Asked Questions) where you can find answers to common questions without needing direct contact. The mobile app also has an integrated help section with educational articles and a message center for communication with the support team. For product updates, financial tips, and company news, you can follow Self on social media or access the official blog on the website. The company also maintains an online community where users share experiences and tips, although this is not an official support channel.

When contacting customer service, have information such as your account number, the last four digits of your card, and specific details about your issue on hand to expedite service. Self strives to resolve most issues on the first call, but more complex problems may require further investigation. Remember that customer reviews indicate that service quality can vary, with some users reporting difficulties in resolving complex issues, so be patient and persistent if necessary. Keeping records of your communications with the company is always a good practice for future reference.