Grow Credit Mastercard®

Zero interest virtual credit card helps build or rebuild credit using subscription services

Updated: Jun 24, 2022

Advertiser Disclosure

Grow Credit Mastercard is a unique credit-building card that can help you improve your score through timely payments. Unlike conventional credit cards that can help you make bigger purchases and then pay them off at a later date, Grow Credit is designed specifically for those who have to cover recurring monthly payments, such as bills or subscription services. It doesn't function as a regular credit card. It needs to be connected to your checking account, from where it will draw money to help you pay for your subscriptions. The payments you make with Grow Credit Virtual Mastercard will then be reported as credit activity to the three bureaus – TransUnion, Experian, and Equifax.

ANNUAL FEE

$0

ONGOING APR

0% Fixed

INTRO APR

N/A

19 User Ratings

Grow Credit Mastercard®

at GrowCredit's Secured website

Apply Now

Application Fee

$0

Credit Reporting

Yes

Minimum Credit Needed

Accepts All

Key Features

  • Made to build, rebuild or establish your credit
  • Instantly issued virtual card
  • Reports to all 3 main credit bureaus
  • 1 Free and 3 paid membership plans
  • No hard credit inquiry
  • Instant Preapproval
  • Must have a checking account to qualify

Our Take

Best for

  • Cardholders who need to improve credit scores;
  • Cardholders with no credit history;
  • Subscription services (Netflix, Hulu, Amazon Prime, etc.).

Grow Credit Mastercard Advantages

Grow Credit Mastercard can bring some significant advantages to the right cardholder. Take a look at some of its main benefits.

  • Soft credit check. Most commonly, banks will do a hard credit inquiry when you’re applying for a loan such as a credit card. They pull your detailed credit report and temporarily reduce your credit score by approximately five points. If your credit card application is denied, the five-point reduction will be effective for roughly a year, while the inquiry will stay on your report for up to two years. With Grow Credit Mastercard, you won’t receive such a reduction. GrowCredit only performs a soft inquiry for identity verification purposes during your application. Your score won’t be affected in the slightest.
  • No interest charges. Since GrowCredit Mastercard is an alternative credit card that doesn’t actually give you a loan, you can never carry a balance from one month to the other. Therefore, you can never encounter any interest charges.
  • Activity reported to credit bureaus. As mentioned, Grow Credit reports your account as an installment loan. It passes on all your account activity to the TransUnion, Experian, and Equifax credit bureaus, thus helping you improve your credit score by simply using and paying for subscription services as you normally would. (Read: Credit Reporting Cards Explained)
  • All subscriptions are paid automatically. If you want to reap the benefits of Grow Credit, you must charge your subscriptions to your Grow Credit Mastercard. Grow Credit will automatically cover all your subscriptions, then draw the amount directly from your original bank account. You won’t have to worry about late payments, nor will you experience any changes in your cash flow. The cost of your subscriptions will remain the same as it always was.

Grow Credit Membership Plans

When applying for a Grow Credit Mastercard, you have the option to choose between four pricing plans:

Build FreeBuild SecureGrow MembershipAccelerate
FREE Plan. $17 monthly spending limit.$17 monthly spending limit, $2.99/month.$50 monthly spending limit, $4.99/month$150 monthly spending limit, $9.99/month

Regardless of the membership plan you choose, GrowCredit will provide you with a free FICO score and free financial literacy education and report your activity to the three main credit bureaus.

GrowCredit Qualification Requirements

Grow Credit Mastercard is designed for users with no credit history or poor credit scores. Therefore, its application criteria are very lenient. You can receive the card if you:

  • Are at least 18 years old;
  • Are a permanent resident of the US;
  • Have a social security number (if you don’t have SSN – check Stilt Debit Mastercard);
  • Have a valid phone number;
  • A valid email address;
  • Have any type of bank account where you can deposit your income.

A bank account where you deposit your income is essential as Grow Credit will pull funds from your account to cover your subscriptions. It will primarily lend you the money necessary for the subscriptions, reporting the amount as an installment loan, but it will then deduct it from your bank account. If you don’t have enough funds in the account within 30 days of Grow Credit paying your subscriptions, you will be reported for late payments, which will lower your credit score.

What Are GrowCredit Disadvantages

Considering that the Grow Credit Mastercard isn’t a conventional credit card, it comes with a few significant drawbacks you should know about.

  • Low spending limit. Grow Credit Mastercard can have an exceptionally low spending limit depending on the plan you choose and the subscription services you use. If you have a Netflix Premium account, for example, the Build Free or Build Secure memberships wouldn’t be enough to cover just this single subscription. However, as long as you use at least one subscription service that costs less than $17 a month, any of these two membership tiers could be well worth it.
  • You cannot carry a balance. As mentioned, the Grow Credit Mastercard charges no interest, but it also doesn’t allow you to carry a balance. While it’s never advisable to carry a balance on any of your credit cards, it can be beneficial when you’re strapped for cash. Unfortunately, with GrowCredit, it’s simply not an option.
  • You cannot use it for bigger purchases. Finally, you cannot use your Grow Credit Mastercard to make any bigger purchases – not even at a gas station or a grocery store. This virtual card is designed solely for helping users build credit by paying for their monthly subscriptions and recurring bills – nothing more, nothing less.

What Makes Grow Credit Mastercard Different

Grow Credit Mastercard is one of the most attractive alternative credit cards. You don’t have to worry about going through a lengthy application process, carrying a balance, paying high APRs, or even accidentally forgetting to pay your bills. It automatically draws money from your bank account to cover your subscriptions and helps you build your credit score (See: Best Credit Builder Apps) in the process. You won’t have to change your spending habits in the slightest. Simply continue paying your regular monthly subscriptions and watch your credit score grow.

Bottom Line

Grow Credit Mastercard can be an excellent card for those who need a quick way to build up their credit score or start their credit history. While it does have its limitations, useful only if you have monthly subscriptions you need to pay, it offers you a quick and easy way to improve your credit and increase your chances of getting approved for traditional loans.

Frequently Asked Questions

Apply Now
Basic Information
Issuer: Sutton Bank
Network: Mastercard®
Category: Consumer (Stored Value)
Best Used For:
  • Guaranteed Approval
  • No Credit / New to Credit
  • Building Credit
  • Damaged Credit
  • No Credit Check
  • Digital Cards
  • Debit Card
  • Rebuild Credit
Rewards: No
Rates & Fees
Regular APR: 0%
Regular APR Type: Fixed
Annual Fee: $0
Balance Transfer: No
Other Fees:
  • Card issuing fee: $0
  • Card annual fee: $0
  • The membership fee depends on the Plan

Grow Credit Mastercard® Alternatives


Grow Credit Mastercard®

Grow Credit Mastercard®

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Annual Fee

$0

Regular APR

0%

Intro APR

N/A

Min. Credit Level

Accepts All

IMPORTANT
*The information provided for Grow Credit Mastercard® is believed to be accurate at the time of evaluation or recent update on June 24, 2022. However, we strongly advise visitors to review the card fees and Terms & Conditions on the issuer's website by following Apply Now link to verify the accurancy of the information posted prior to applying for this card offer.

Grow Credit Mastercard®

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Grow Credit Mastercard®

Grow Credit Mastercard®

Min. Credit Required: Accepts All

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