| Last updated on February 13th, 2024
Current Build Card
Current Build Card
- 0.00% Regular Purchase APR
- 0.00% Cash Advance APR
At a Glance
The Current Build Card is a no annual fee secured card that builds credit while earning up to 7X points and 4% APY on savings. The card features no account minimums, no overdraft fee, and spending insights to help your build credit.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Build credit with no minimum deposits and no annual fee
- Up to 4% APY on savings
- Earn up to 7X points on purchases with over 14,000 merchants
- No overdraft fee
- Regular Purchase APR: 0.00%
- Cash Advance APR: 0.00%
- Annual Fee: $0.00
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: 3% of any Total Due balances outstanding and past due for two or more billing cycles
- You are new to credit and want an easy way to begin building credit
- You plan on utilizing Current's spending insights to help you save money
- You don't want to pay an annual fee to earn rewards
In-Depth Review: Current Build Card
The Current Build Card is a secured credit card that makes building credit simple, safe, and seamless by allowing you to build your credit history with on-time payments. Build credit using only the money in your account and enable AutoPay so you never miss a payment.
Current Deposit Account Required
The Current Build is similar to other credit builder options, requiring a Current deposit account before applying for the card. Fortunately, Current’s Save account is a versatile product that can help you boost your savings with no annual fee, account maintenance fees, or minimum deposit requirements.
The Current Save account also provides an impressive up to 4% APY through what is known as “Savings Pods.” That APY is double the current offer from another credit building stand-by: Chime. It’s worth noting that the 4% annual yield is only on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00% APY. Additionally, you must have $0.01 in Savings Pods to earn 0.25% APY. You’ll also need to set up and maintain a direct deposit of $200 or more.
Build Credit with No Credit Check
Because the Current Build Card works with the Current Save and Spend deposit accounts, there’s no credit check required to open the card. That’s due to the secured credit card aspect of Current Build. The Build card draws from the available Current spending balance, meaning that Current doesn’t need a credit check to let them know if you are a reliable lend-ee.
What’s really cool about the Current Build Card is the ability to build credit with every swipe. Most credit builder products help boost your credit by reporting on all purchases with the card, but Current takes this further by offering credit building regardless of the transaction type. Use your card anywhere Visa is accepted, even at the ATM, to build credit with every swipe. Pretty sweet, huh?
Limitations on Credit Building
The ability to build credit with every swipe is great, but that excitement needs to be tempered by the fact that Current only reports to a single credit bureau – and not all three major bureaus (Experian, Equifax, and TransUnion). Current reports only to TransUnion, meaning your progress might not be visible on Experian and Equifax credit reports should another lender pull those instead of TransUnion.
Other Deposit Account and Card Benefits
Current requires a deposit account to open a card, so cardholders can expect the usual perks of checking accounts with their card. That means you can get paid up to two days earlier with a direct deposit – a feature of most accounts. Still, this feature can help you get paid earlier – and who doesn’t like that?
The card also provides fee-free ATM access through the AllPoint ATM network. The Allpoint ATM network is one of the largest surcharge-free ATM networks in the United States, with over 55,000 ATMs nationwide – and considerably more than MoneyPass (another network with 37,000 locations).
Other noteworthy banking perks with Current include:
- Fee-free overdrafts: No fees if you overdraft your account
- Gas hold removal: Current removes the holds gas stations put on your account to ensure payment, so your money is available to you instantly.
- Spending Insights: Spend smarter with money management tools that help you track your spending to budget your money better.
Current also offers cryptocurrency transactions through the Current mobile app. Current makes buying crypto easy by offering streamlined buying and selling of crypto through the Current app. Even better, there are no crypto trading fees, and you don’t need to purchase an entire coin.
As with any credit card product, the Current Build Card has some associated fees. These fees aren’t too bad – especially considering there are no annual fees and account minimums. That said, some transactions and account events might cause fees. Here is the Current fee schedule:
|There is no annual fee with the Current Build Card.
|There are no account set-up or monthly maintained fees. Additionally, there are no program fees.
|Foreign transaction fee
|Foreign transactions charge a fee of 3% of the transaction in U.S. dollars.
|As mentioned, there is $0 charge for overdrafts with Current.
|Late payment fee
|Late payments will result in a 3% of the total outstanding balance.
|Out of network ATM fee
|Using an ATM outside of the AllPoint ATM network incurs a fee of 3% of the total outstanding balance.
|Card replacement fee
|Replacing a lost or damaged card will cost $5 per card. There is also a $30 charge for expedited delivery, if applicable.
|Cash deposit fee
|There is a cash deposit fee of $3.50 per deposit.
The Current Build Card is a full-blooded credit card, meaning you’ll also enjoy comprehensive The card also features basic Visa benefits and security protections:
|Zero Fraud Liability
|Cardholder Inquiry Services
|Emergency Card Replacement
|Roadside Dispatch and Auto Collision Damage Waiver
|Lost/Stolen Card Reporting
|ID Navigator from Norton
Here is how Current stacks up against two other popular credit builder options without a credit check:
|Current Build Card
|Chime Secured Visa®
|Self Visa® Card
|Reports to credit bureaus?
|Up to 7X
How to Earn Rewards with Current
Another fun feature of the Current Build Card is earning up to 7X reward points with eligible merchants. Cardholders earn up to 7X per $1 spent with over 14,000 participating merchants. Available merchants are visible in the Current mobile app. All other eligible purchases earn 1X per $1 spent, with points redeemable for cash in your Current account. You can find all offers near you on the map directly in the Current app. Points never expire, and there is no cap on the total number of rewards earnable with the card.
There are a few caveats to the reward program you should be aware of, however:
- Reward point totals will vary from merchant to merchant
- You need to opt-in to earn rewards in the Current mobile app
- There is a minimum redemption of 100 points or $1 cash back
The reward structure of the Current build is similar to that offered by banks like Credit One. That bank also provides additional rewards of up to 10% back via the Get More Rewards program. If you prefer a more streamlined, consistent rewards program, other options, including the Zolve Azpire Card, Petal, and others, are available.
How does Current stack up? Here is a selection of expert reviews for the card:
Should You Apply for the Current Build Card?
Building credit can be challenging, but cards like the Current Build Visa make it a breeze with sound financial practices. The card requires no minimum deposit, charges no annual fee, and earns decent rewards on every purchase – rewards you can then pump back into your 4% APY Current Savings Pods.
That said, there are some downsides to the Current Build Card. For starters, there is no path towards graduation. The card acts as a secured charge card, but displaying your sound financial habits and watching your score climb won’t result in a larger credit line, more rewards, or other perks. Other options, like Surge® Platinum Mastercard®, offer the chance to double your credit line in as little as six months.
Still, the Current Build Card is a great option for those who want a simple credit-building platform with little hassle. If you are serious about building credit and moving on to more lucrative rewards and welcome bonuses in the future, Current has your back.
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