The Savorone Card Is Designed for People Rebuilding Credit
The Savorone credit card is a secured credit card — meaning you put down a cash deposit that becomes your credit limit. You use it like a regular card, make monthly payments, and the card issuer reports your activity to the three major credit bureaus (Equifax, Experian, and TransUnion). The goal is to build or repair your credit history so you can move to an unsecured card later.
Savorone is issued by Pathward, a bank that specializes in cards for people with limited or damaged credit. The card itself carries an annual fee and charges interest on balances you don't pay in full each month. Unlike some competitors, Savorone does not require a credit check to open an account — only a bank account and a deposit.
Whether this card makes sense for you depends on your current credit situation, what other cards you might get, and whether you can use it without running up debt. It is not the only secured card on the market, and comparing your options before you commit matters.
Key Takeaways
- Savorone is a secured card: your deposit becomes your spending limit, and the issuer reports your payments to credit bureaus to help you build history.
- You will pay an annual fee and interest on any balance you carry, so the card costs money whether you use it or not.
- No credit check is required to open the account, but you do need a bank account and a cash deposit.
- The card is most useful if you plan to pay your full balance each month and graduate to an unsecured card within 12 to 24 months.
- Other secured cards exist with lower fees or better terms — comparing before you open an account can save you money.
How the Deposit and Credit Limit Work
You choose your deposit amount when you open the account. That deposit sits in a savings account at Pathward and becomes your credit limit. If you deposit $500, your limit is $500. If you deposit $2,500, your limit is $2,500. The deposit is yours — the bank does not keep it — but you cannot touch it while the account is open.
Your actual credit limit may be higher than your deposit. Pathward sometimes offers a higher limit than your deposit amount, though this depends on your account history and payment record. Even if your limit stays equal to your deposit, you can request an increase after you have made on-time payments for several months.
The deposit earns no interest. This is a cost of using the card — your money sits idle while you pay to rebuild credit. Some secured cards offer small interest on the deposit; Savorone does not.
Fees and Interest Charges You Will Pay
Savorone charges an annual fee that varies depending on the card version and current promotions. This fee is charged whether you use the card or not. You also pay interest on any balance you carry from month to month — the interest rate (called the APR, or annual percentage rate) is typically higher than what unsecured card holders pay, often in the range of 18% to 24%, though the exact rate depends on your creditworthiness and current market conditions.
If you carry a $500 balance at 20% APR, you will pay roughly $100 in interest over a year. Add the annual fee on top, and the card costs you real money. The math only works in your favor if you use the card to build credit and then move to a card with lower fees and rates within a year or two.
Late payment fees explore if you miss a due date. These fees are reported to credit bureaus and damage the credit score you are trying to rebuild. Paying on time is not optional — it is the entire point of the card.
How Savorone Reports to Credit Bureaus
Pathward reports your account activity to all three major credit bureaus: Equifax, Experian, and TransUnion. This means every on-time payment you make gets recorded on your credit report. Over time, a history of on-time payments raises your credit score.
The card also reports your credit utilization — how much of your limit you are using each month. If your limit is $500 and you charge $400, your utilization is 80%. Credit bureaus view high utilization as riskier, so keeping your balance below 30% of your limit helps your score more than maxing out the card and paying it off.
It typically takes three to six months of on-time payments before you see a meaningful improvement in your credit score. If you have no credit history at all, the improvement may be faster. If you have recent negative marks (late payments, collections, bankruptcy), the improvement will be slower.
When Savorone Makes Sense and When It Does Not
The card is useful if you have no credit history or your credit score is very low (below 580) and you cannot get approved for other cards. It is also reasonable if you have had credit problems but have now stabilized your income and can commit to on-time payments for at least a year.
The card does not make sense if you already have access to unsecured cards with lower fees and better rates. It also does not make sense if you are not confident you can pay your full balance each month — carrying a balance on a high-interest secured card while you rebuild credit defeats the purpose and costs you money.
If you are considering Savorone, also look at other secured cards from banks like Capital One, Discover, or LendingClub. Compare the annual fee, the interest rate, whether the deposit earns interest, and what the path to graduation (moving to an unsecured card) looks like. A difference of $25 or $50 in annual fees adds up over two years.
The Path From Secured to Unsecured
The goal of a secured card is to use it for 12 to 24 months, build a solid payment history, and then move to an unsecured card with better terms. Pathward will review your account after you have made on-time payments for a set period — usually 6 to 12 months — and may offer to convert your account to an unsecured card.
When you graduate, your deposit is returned to you. You keep the card (now unsecured), and your credit limit may increase. The annual fee may drop, and the interest rate should improve, though neither is may provide.
Graduation is not automatic. You have to meet Pathward's criteria: on-time payments, low utilization, and no negative marks on your credit report. If you miss a payment or let your balance get too high, graduation is delayed.
What Happens If You Close the Account
If you close the Savorone account, your deposit is returned to you within a few business days. However, closing the account also closes a line of credit on your credit report. This can lower your credit score in the short term because it reduces your total available credit and shortens your average account age.
For this reason, it is better to keep the card open even after you graduate to an unsecured card or move to a different issuer. You do not have to use it, but keeping it open maintains your credit history and available credit.
If you do decide to close the account, do so only after you have built enough credit history that losing one account will not significantly damage your score — usually after at least 18 to 24 months of on-time payments.
Frequently Asked Questions
Do I need good credit to open a Savorone account?
No. Savorone does not run a hard credit check, so you can open an account even if you have no credit history or a very low score. You do need a bank account and a deposit.
Can I get my deposit back if I need the money?
You can get your deposit back by closing the account, but this will lower your credit score in the short term. If you need the money urgently, closing the account may be necessary — but try to keep it open for at least 6 to 12 months if you can.
What is the difference between Savorone and a regular credit card?
A regular unsecured card does not require a deposit. Savorone requires a deposit because the issuer is taking on more risk by lending to people with poor or no credit history. The deposit protects the bank if you do not pay.
How long does it take to build credit with Savorone?
You will see small improvements within three to six months of on-time payments. Meaningful improvement — enough to move to an unsecured card — usually takes 12 to 24 months, depending on how damaged your credit was to begin with.
Can I use Savorone to pay bills or just buy things?
You can use Savorone anywhere that accepts Visa, including online purchases, in-store shopping, and bill payments. Using it for regular purchases and paying the balance in full each month is the fastest way to build credit.