How the Step Card works

Step is a mobile banking app built for teens and young adults who are just starting their financial journey. Our mission is to improve the financial future of the next generation. To accomplish our mission, the financial products we create are designed to make sure you are best prepared by banking with Step. The Step Card, powered by Visa, is a new type of secured spending card that has a few extra features over traditional bank cards. The best part, there are no fees!

The Step Card lets you spend without the worry of ever overdrafting or overspending. You get the security and peace of mind to only spend what you have deposited in your Step account. In addition, you get the credit building benefits of a traditional credit card without the concerns of ever paying unnecessary interest.

Here’s how it works. When you make a deposit into your Step account, you then have the ability to spend up to that amount with your Step Card. Your deposits are secured to make sure whatever you spend in the future is always paid in full. We built Step Smart Pay so you never pay interest or fees of any kind and you cannot spend more than what you have in your account.

Each time you use your Step Card, it reflects positively on your credit history and helps build up your credit. Having a positive credit score is a foundational element for financial success and traditional debit cards do not contribute to your credit score in any way. Starting to build credit history at an earlier age can help you qualify for the lowest student loan rates, get a better mobile phone plan, lower your car insurance, help you get an apartment and even increase your chances on a job application.