Varo Believe Credit Builder Card

Varo Believe Credit Builder Card Disclosure: The Varo Visa® Debit Card is issued by Varo Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. We give you access to your direct deposits from employer and government payers on the day we receive them, which is typically up to 2 days earlier than your scheduled pay date. Varo Advance Varo Advance is a small-dollar line of credit. To qualify, you must have an active Varo Bank Account and qualifying direct deposits (QDD) of at least $800 during the current or previous calendar month. Your Varo Bank Account and/or Savings Account must not be overdrawn, and any prior Varo Advance payments must have been made on time. Once qualified, you’ll be assigned a credit limit between $20 and $250 based on your account activity, balances, direct deposit history, repayment behavior, and other risk-based factors. The maximum Advance amount is $500. Eligibility and credit limits are evaluated daily and may change at any time. Only one Advance can be taken at a time. Your current limit is available on the home screen of your Varo app. Varo Line of Credit The Varo Line of Credit is designed to help cover unforeseen expenses with monthly payments, no late fees, no prepayment penalties, and no interest. Eligibility is required. Once approved, your credit limit will range from $600 to $2,000, and a one-time fee is added to your borrowed amount. Your credit limit may fluctuate based on various factors. Only one Line of Credit can be active at a time. Your eligibility and current limit are viewable in your Varo app. Varo Believe Secured Credit Card Varo Believe is a secured credit card designed to help you build credit. A variety of factors impact your credit score, and not all are weighted equally. Building credit takes time, but Varo Believe may help when you consistently make on-time payments. To be eligible to apply for the Varo Believe Card, you must have received Incoming Deposits of $200 or more in the past 31 days to your Varo Bank Account and/or Varo Savings Account. Incoming Deposits include any deposit into your Varo Bank and/or Savings Account from outside sources (e.g., payroll, transfers), as well as Varo to Anyone transfers and final dispute credits. As of November 18, 2024, Varo customers with an existing VantageScore® 3.0 credit score saw an average increase of approximately 40 points after three months of using Varo Believe and making on-time payments. Individual results may vary, and some users may not see a score increase. Additional Disclosures Qualifying Direct Deposits (QDD) are electronic deposits of your paycheck, pension, or government benefits (such as Social Security or unemployment) from an employer or government agency to your Varo Bank and/or Savings Account. Tax refunds, government stimulus payments, peer-to-peer payments (e.g., Venmo, Varo to Anyone), and deposits using a Varo routing number are not considered qualifying direct deposits. Cashback is available on select items or services purchased with your Varo Debit Card or Varo Believe Card at participating brands and retailers. Offer details vary—see the Perks tab in your app for the latest offers. The maximum Cashback you can earn is $200 per calendar month. Varo Savings Account: To open a Varo Savings Account, you must have a Varo Bank Account. There are no monthly fees, no minimum balance requirements, and applying does not impact your credit score. As of December 11, 2024, customers can earn 2.50% APY, and may qualify for 5.00% APY on balances up to $5,000 by: Receiving direct deposits totaling $1,000 or more; and Ending the month with a positive balance in all your Varo Accounts. Rates are subject to change at any time. Testimonials reflect real experiences of Varo customers. Results may vary.

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