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How Fast Can A Primor Secured Mastercard Gold Card Account Be Activated

November 13, 2019 by Tamila McDonald

primor secured mastercard

If you are planning to open a new secured credit card, it’s common to wonder how long it takes for the account to activate. This is especially true if you need the card to handle an emergency or something that is coming up quickly, and you don’t have a lot of time to wait. With the Green Dot primor Secured Mastercard Gold card, the process is fairly straightforward. Here’s a look at the timeline of opening an account.

Applying for the Primor Secured Mastercard Gold Card

The primor Secured Mastercard application process only takes a few minutes. You start off by providing some contact information, such as your name, address, and phone number. Next, you’ll enter your Social Security number and date of birth, allowing the company to confirm your identity.

Once that is provided, you’ll have to enter some details about your financial situation. You might need copies of your paystubs or monthly bills to make this part easier. But, if you have all of that information readily available, entering the data goes quickly.

There is no application fee or credit check. Plus, there isn’t a minimum credit score. As long as the company feels that you can reasonably make your payments, you’ll likely be approved to proceed.

Making Your Initial Deposit for Your Secured Mastercard

Since the primor Mastercard Gold card is a secured card, you’ll need to make a deposit. That amount you send equals your credit line. You can start with as little as $200 or go as high as $5,000.

Your deposit is kept in a Green Dot Bank savings account. The money is FDIC insured, so it is protected at all times. However, while the money is in a savings account, you can’t use it to cover payments. That secures your credit line, so it has to remain in the account.

To make your deposit, you provide a debit card or prepaid card number. Money is taken from that account to secure your card. You can’t use a credit card to fund your secured card.

The deposit is pulled from that card immediately. As long as they aren’t any issues with the account the deposit comes from, your card will be put in the mail the next business day.

Shipping Time for Your Primor Gold Card

Once your card is in the mail, it can take several business days to arrive. Exactly how long will vary. However, in most cases, people should receive their primor Secured Mastercard within five to seven business days after it is picked up by the mail carrier. Many would get it sooner.

Activating Your Card Once It Arrives

After you have your new primor Secured Mastercard Gold card in hand, you’ll need to activate it. Usually, this involves calling a specific phone number and confirming a few details. Typically, you’ll see a sticker on the card that tells you what number you need to call to get started.

Once you get on the phone, you’ll go through a few steps. This includes entering the card or account number as well as providing information to confirm your identity. The purpose of this process is to try and prevent anyone but the cardholder from being able to activate the account. That way, if someone else happened to get their hands on the envelope with your card, they wouldn’t be able to use it.

If you have any trouble activating the card, you might need to contact customer service. However, these processes are generally pretty smooth. As a result, you should be up and running within a matter of minutes. And, once the call is complete, your card is active. You can start using it right away.

Total Time to Activate Your Primor Secured Mastercard

In total – starting with the application and running all the way through activation – the entire process should take six to eight business days. However, if your card happens to arrive quickly, it could take less. If you run into any difficulties, it’s possible it would take longer.

Usually, that should only occur if there is a problem with your initial deposit. If you have sufficient funds, that probably won’t happen. Do keep in mind that, if you use a debit card, you might need to call your bank when making a large deposit. Most cards have daily transactions and spending limits in place as a security measure, but you can often get these temporarily increased by talking to your bank or credit union to make sure your transaction will process.

Delays in shipping could also slow things down. Natural disasters, bad weather, or unexpected events might stall the delivery of your card, and there typically isn’t much you can do if this happens but wait. If your card gets lost in the mail, call the card issuer to see what needs to be done.

Primor Secured Mastercard Gold Card Interest Rate and Fees

Before you apply for a primor Mastercard, you need to make sure you are comfortable with the fees and interest rate. First, you’ll have to pay a $49 annual fee regardless of how much you use the account. While this isn’t the highest annual fee, it isn’t the lowest either. Plus, there are other secured credit cards that don’t charge one at all. However, their interest rate may be higher than the primor Secured Mastercard Gold card.

As for the interest rate, the primor Secured Mastercard comes in with a 9.99 percent fixed APR for purchases. That’s pretty competitive, particularly for those who have a low credit score. However, if you take out a cash advance, the APR for that is 18.99 percent, and you’ll need to pay a fee of 5 percent of the amount or $5, whichever is higher. That isn’t horrible but certainly isn’t as good as the purchase APR.

You may also encounter other fees. For example, a late or returned payment will run you $29. If you want to add another cardholder to the account, that’s an additional $29 as well.

Foreign transactions have 3 percent of the transaction value fee. That’s not outside of the norm, but there are cards that don’t charge on at all.

Do you consider the speed of activation when choosing a credit card? Tell us why or why not in the comments below.

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Tamila McDonald
Tamila McDonald

Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.

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