Step
Step Visa Card & Money Account
By Alex Compton · Last verified
The free teen card that builds credit history before 18
Insurance: Deposits held at Evolve Bank & Trust, Member FDIC, insured to $250,000; up to $1M coverage for eligible Step Black members
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-09-04 | 3.00% savings reward with earned Step Black status; the account is not interest-bearing | $0 core; Step Black earned at no cost with $300 qualifying monthly direct deposit or $500 monthly card spend; optional paid enrollment may be offered in-app | None | Step rewards and Step Black terms →Removed the unsupported fixed $4.99 price and corrected cashback eligibility; public terms show a free earned path while legal terms allow optional paid annual enrollment at an in-app price |
| 2026-06-11 | 3% savings reward with Step Black; none on the free tier | $0 core; Step Black listed as $4.99 with activity waivers | None | Archive record · no attached snapshotLegacy snapshot before the current earned-status model was confirmed |
Primary-source verification log
Append-only evidence ledger- changed
Corrected Step Black to the public earned-status model and moved unlimited 1% cashback off the free tier
Fields: monthlyFee, plans, features, pros, cons, ourTake, termHistory, lastVerified
Step rewards and earned Step Black terms → - changed
Legal terms also contemplate optional paid annual Step Black enrollment at a fee disclosed in the app, so the account page now distinguishes that path from free earned status
Fields: monthlyFee, plans, ourTake, termHistory
Step Black legal terms → - changed
Corrected ATM pricing to a $3 Step out-of-network fee plus possible operator fees and removed unsupported legacy account-limit claims
Fields: atm, features, termHistory
Step Visa Card and Secured Account Agreement →
Plan Options
Step (free)
$0
- ▸Secured Visa card with no fees, no interest, no credit check
- ▸Credit reporting to all three bureaus
- ▸Standard FDIC insurance eligibility up to $250,000 through Evolve Bank & Trust
Step Black
$0 when earned with $300 in qualifying monthly direct deposits or $500 in monthly card spend; optional paid enrollment terms are disclosed in-app
3% savings reward
- ▸3% savings reward on balances
- ▸Unlimited 1% cashback plus up to 10% at select Step Black partner merchants
- ▸FDIC coverage expanded up to $1M for eligible members
Features
- ▸Secured Visa charge card: teens can only spend what's in the account, so no overdrafts or debt
- ▸Reports payment history to TransUnion, Experian, and Equifax; up to 2 years of credit history before age 18
- ▸Step Black adds unlimited 1% cashback and up to 10% at select partner merchants
- ▸Parent sponsors the account for minors and can monitor activity and send money instantly
- ▸Direct deposit with early payday access
- ▸Round Ups and savings goals help separate money for future spending
- ▸Optional stock and ETF investing for eligible users
Pros
- +Genuinely free core account with no subscription fee or minimum balance
- +The only mainstream teen account that builds real credit history before 18
- +Average reported score lift of 57 points in a year for users in their 20s
- +Step Black can be earned without a subscription through direct deposit or card activity
Cons
- −Parental controls are lighter than Greenlight's: no per-category spend limits
- −3% savings reward requires monthly Step Black qualification and is not bank interest
- −Partner bank Evolve Bank & Trust has a rocky recent history (Synapse fallout, 2024 data breach)
- −Acquired by MrBeast's Beast Industries in February 2026; product direction under new ownership is unproven
Our Take
Step's pitch is unique: a free card that can build a teen's credit file before 18, and that alone can justify the account. The core account does not include the unlimited 1% cashback previously listed here; that benefit requires Step Black status. The public earned path has no subscription and uses qualifying direct deposits or card spend, while Step's legal terms also contemplate optional paid annual enrollment at a price disclosed in the app. Its savings rate is a variable reward rather than interest.
Best for: Teens 13+ who want a free card that builds credit history before 18
Open at Step →Last verified 2026-09-04
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