Step Card Review: Credit-Building Without APR
- Fee
- $0 per month
- APY
- 4.00%
- Minimum deposit to open
- $0
Our verdict
A secured card that works like a debit card with credit-building and savings perks.
Step stands out as a free app and Visa secured card with no monthly fees, overdraft or opening deposit. It could help you build credit history without the risk of overdrafts or racking up credit card interest. Unlike traditional credit cards, you only spend the money that's been added to your Step account, so you can’t spend more than what you have. With direct deposit of at least $500 each month, you can earn up to 4% savings rewards, and get early direct deposit. Scoop up time-sensitive cashback offers from favorite stores, earn referral bonuses, save faster with saving round-ups and much more. The basic Step card has no age requirements, just requiring an adult sponsor for minors, and making it a great option for families with teens. There's also the Step Black card that offers many more perks such as up to 8% in cashback. Step Black costs $4.99 per month, or its free by meeting direct deposit requirements.
Best for: Young adults who want to build credit and earn rewards.
Pros
-
$0 monthly fees
-
No credit check, deposit or interest charges
-
4% savings reward with direct deposit
-
Optional investing platform
Cons
-
No physical branches
-
Step Black is $4.99 a month without $500 in direct deposits
-
Best savings reward requires direct deposit
How the Step card works
The Step Visa Card and Step Black Card aren’t traditional credit cards. Each time you use the card to make a purchase, Step removes that amount from your Step deposit account — kind of like a regular debit card. Once a month, Step uses your deposit account balance to pay off your card balance without any interest charges. It’s considered a secured card, but instead of being secured by a security deposit, it’s backed by the Step deposit account.
Step also reports to all three credit bureaus: Experian, Equifax and TransUnion. It boasts that 18-year-olds who used Step for seven months saw an average credit score of 725.
Plans and cost
You can choose between the free Step Visa Card, or the Step Black Visa Signature Card.
| Card | Cost | Age requirement | Features |
|---|---|---|---|
Step Visa | $0 | None |
|
Step Black Visa Signature | $4.99/month or $0 with $500 in direct deposits | 13+ | Everything with Step Visa, plus:
|
What we like about Step
Step offers free and paid card options, and you gotta love a free option. With either option, there are no interest charges, opening or security deposit, no credit check and no overdraft fees.
By going with the free plan, you’ll still get a ton of features like cashback rewards, credit-building opportunities, savings rewards, and an optional investing platform. There are extra perks if you set up direct deposit. With at least $500 in direct deposits each month, you can earn up to 4% in savings rewards, two-day early payday deposits and higher cashback rewards. With the Step Black card, you can enjoy even more perks for $4.99/month or $0 with $500 in direct deposits each year.
Earn cashback rewards
The Step card has a cashback rewards program you’d normally find with a credit card:
- 3% cash back at select brands
- 2% cash back on dining and delivery
- 2% cash back on charitable donations
- 1% cash back on entertainment and gaming
Points earned can be redeemed for cash and can be automatically deposited into your account. Points don’t expire as long as the account is open and in good standing. You earn one point per dollar on a select group of merchants every month. But those who meet the $500 direct deposit eligibility earn 3x the points on select merchants, 2x on food and donations and 1x on entertainment.
On top of the cashback program, there are other ways to earn rewards:
- Referrals. You and a referred friend can each get $1 with a successful referral — not a huge incentive but still a way to earn extra.
- Savings goals. Set goals and track your progress, and also use savings round-ups that round up each purchase to the nearest dollar to build savings faster.
Credit building with Smart Pay
Step is a secured card, so with each purchase, Step removes that amount from the Step deposit account. While this sounds like a regular debit card, this can actually build credit thanks to Step’s feature called Smart Pay.
With Smart Pay, purchases are automatically paid off every month using the funds in your deposit account and those payments are reported to Equifax, TransUnion and Experian. For those under 18, up to two years of payment history will be reported at age 18 after opting in.
Investing platform
In the Step app, you can open a stock account to start investing in stocks. You’ll also pay nothing in commission fees or monthly subscriptions. There are over 1,000 popular stocks to browse, and Step will recommend investments based on your volatility tolerance. The stock account is insured by the Securities Investor Protection Corporation (SIPC) for up to $500,000.
Step Black card has more perks
If you want to step up your Step experience, there’s also the Step Black Visa Signature Card. The Step Black card costs $4.99 per month, or it’s free with direct deposit of at least $500 per month.
It works similar to the traditional Step card and other debit-credit cards, but comes with extra perks.
Compared to the regular Step card, the Step Black card offers higher cashback rewards that are up to 8% on purchases up to $6,000 annually with select Step Black Partners, higher FDIC insurance protection and Visa Signature perks:
- Accepts ages 13+
- No credit history requirement
- Up to 8% cashback offers, with 1% to 3% on other categories
- Get paid up to two days early with direct deposit (no minimums)
- 4% savings rewards with direct deposit
- Up to $1 million in FDIC insurance coverage
- Visa Signature Concierge 24/7 service
- Visa Signature access to events
Step can be great for kids, too
There are no age requirements for the regular Step card, as it only requires that users under 18 have an adult sponsor the account. Parents can also create a parent-managed Step account for their kids. With strong parental controls, spending limits, and no monthly fees, it can be a great first debit card for kids.
Teens can also get payments reported. Once they turn 18, they can opt to send their Step transaction history to the three credit bureaus from the last two years, effectively helping teens build their credit scores before adulthood.
Kids under 18 need their parent’s approval to start investing, and parents can limit the amount that kids invest up to $1,200. And unlike competitors like Greenlight, kids don’t need a parent’s approval before each trade.
For financial literacy, Step offers a Money 101 course in over 100 US high schools to help students learn the basics of bank accounts, budgeting, loans and investing. Students of participating schools can access the online course through the app. Plus, they can earn money for getting high quiz scores or improving their scores.
Where it falls short
The only real downside with Step is the lack of physical branches. You’ll need to be comfortable communicating with the company solely online, or over the phone. Customers have also complained about its long two- to three-week wait for getting your Step card in the mail after signing up.
Step reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | C- |
| BBB customer reviews | 1 out of 5 stars, based on 3 customer reviews |
| Trustpilot score | 4.3 out of 5 stars, based on 1 customer reviews |
| Customer reviews verified as of | 14 February 2025 |
Step Banking isn’t accredited by the Better Business Bureau (BBB), and doesn’t hold the best BBB rating. Compared to other online banking options, Step has barely any complaints — under 50 at the time of writing. We normally see thousands for digital banking companies, so we’ll consider that a good sign.
Step does hold an immaculate rating on Trustpilot with over one thousand reviews. Happy customers report helpful and fast customer support, parents like the card for their kids, say the app is easy to use and many call out the rewards program. Many who have experienced problems often say that any issues were resolved quickly, reporting no long hold times and quick responses.
Among negative reviews, some report receiving generic responses to their requests for help, another customer says Step didn’t disclose their fees and few say their account was closed unexpectedly. However, Step does respond to over 70% of negative reviews in attempts to resolve issues.
Compare Step app with other similar accounts
See how Step compares to other credit-building options to see which could be best for you.
What is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Is Step app safe?
Yes. Money held in a Step deposit account is insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 through Evolve Bank & Trust. Accounts also have bank-grade encryption, and Visa’s Zero Liability Protection protects all transactions, so you won’t be held responsible for fraudulent charges.
In addition, the Step card is safer than a regular credit card because your kid can only spend what they have in their account.
But be aware that some customers have reported problems with getting funds back from Step when closing their accounts.
How do I contact Step?
Contact Step in four ways:
- Email hello@step.com.
- Chat with a representative through the Step app.
- Over the phone at 1-888-978-2682 from 9am to 5pm Pacific Time
- Contact Step through Facebook, X (formerlyTwitter), Instagram or LinkedIn.
Frequently asked questions
Which is better for kids: Greenlight or Step?
If you’re looking for a budget option, Step is the winner. It has no monthly fees at all and is chock full of features. But Greenlight is a tough adversary.
Greenlight may also be better suited for larger families, as you get five debit cards for the Core plan, which costs $5.99 per month. It also features chore and allowance tracking — something that Step doesn’t have. Greenlight also allows for customized spending limits, and interactive financial literacy games. If you want more granular control over your kids’ spending, chore and allowance tracking and don’t mind a monthly fee, Greenlight may be a better choice.
Does Step work with Zelle?
Yes, you can link your Step card to Zelle, but there isn’t a direct Zelle integration with the Step app. You can also add a Step card to apps like Venmo, Cash App and Paypal to transfer funds.
Credit building card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Your reviews
Bethany Finder
Banking editor
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