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If you think Green Dot offers prepaid debit cards only, then you are wrong. Today you will find secured credit cards offered by Green Dot Bank. These cards, unlike prepaid debit cards, will help you build your credit, if managed responsibly.
There are two types of Green Dot secured cards: Visa and Mastercard secured credit cards. You won't need good credit or a bank account to apply. Green Dot secured cards are available to people with bad credit or no credit at all. Since they are secured cards, you will need to put down a security deposit when approved for a card. To make a deposit, you should go to any participating retail chain (such as CVS or 7-Eleven). The minimum amount of deposit is $200 and your credit limit will be equal to the deposit you pay. Note that you can be charged a fee for loading the cash onto a Green Dot account.
Green Dot will report your credit card payment history to the major credit bureaus. So, make all monthly payments on time and keep your balances low compared to available credit to build good credit history. Remember that any late or missed payment will be reported as well and that can ruin your credit.
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