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Secured Visa Credit Card from America First

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Secured Visa Credit Card from America First

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in Personal Credit Cards

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Overview

Who Is Secured Visa Credit Card from America First Designed For?

The America First Credit Union Secured Visa Credit Card is one of the best secured credit cards around. It is right up there with DCU's Visa Platinum® Secured and the SDFCU's EMV Savings Secured Visa Platinum® Card. This card is great for people trying to rebuild their credit because you can qualify for large credit limits if you have the cash to place as a security deposit.

Around 35% of your credit score is determined by your available credit, so you can practically buy yourself out of bad credit (over time), if you have the savings to place as a deposit. For more information on how to repair your credit read our article "How To Improve Your Credit Score: Tips From 15 Finance & Credit Experts (http://www.supermoney.com/2014/03/tips-to-improve-credit-score).

America's First Credit Union secured credit card has no annual fee, relatively low rates, all the advantages of a premier Visa card, and the potential for large credit limits. The big caveat is not everyone qualifies to be a member of the America First Credit Union. The good news is that other credit unions, such as those mentioned above, are open to general public and offer similar deals.

What Are the Rates of Secured Visa Credit Card from America First?

The rates range from 10.50% APR to 18.00% APR, which rate you receive will depend on how good (or bad) your credit is.

What Are The Fees for Secured Visa Credit Card from America First?

The America First's secured credit card has no annual fee, which is a savings of $30 to $70 when you compare it to other secured credit cards. The cash advance fee is low compared to other cards, just 1.5% of the amount. The late payment fee is $35 and the fee for returned checks or drafts is $10, which is low compared to the $25 to $35 many cards charge. Foreign transaction fees are also low: 1% of each transaction.

What Is the America First's Secured Visa's Rewards Program Like?

This card doesn't have a rewards program. Its big attractions are low rates and low fees. Notice that to have a credit card you will also need to open a checking account with America First. This is not a problem, because as long as you keep $25 in your account, there are no pesky account fees to pay.

What about the Signup Bonus of Secured Visa Credit Card from America First?

There is no signup bonus.

Does Secured Visa Credit Card from America First Have Any Other Benefits?

Although you can't earn points with this card you do get premium Visa card benefits, such as travel insurance and auto rental insurance when you pay with the Secured Visa Card.

How Is the Secured Visa Credit Card from America First Better or Worse Than Other Credit Cards?

If you qualify to join America First Credit Union, this card offers excellent rates and low fees to boot. If you are not eligible, consider the secured cards of other credit unions, such as DCU (link to our DCU Secured Credit Card review) and The State Department Federal Credit Union, which are open to anyone (as long as you're willing to jump through a few hoops) and provide similar secured credit cards. Why do credit unions offer such great deals? They are not-for-profit corporations that have members not shareholders. Their bottom line is to help their members, so they are often willing to work with you when you are going through rocky financial (or credit) times.

However, if you have bad credit and don't have cash set aside to pay a deposit, credit union secured cards may not be a realistic option for you. You can either save for a deposit or apply for credit cards targeted at customers with bad credit. Here are a few to get you started (http://www.supermoney.com/2014/03/credit-cards-for-bad-credit/).

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period
25
Over-Limit Fee
$0
Minimum Interest Charge
$0
Annual Fee
$0
No Annual Fee
Late Payment Penalty
$35
Returned Payment Fee
$10
Foreign Currency Transaction Fee
1%
Bank Account Required?
Credit Score Range
300 - 640
850 300 640
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Minimum Age
18
Co-signing Allowed
Customer Type
Personal
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Fraud Liability
  • ID Theft Protection
  • Travel Accident Insurance
  • Travel Assistance
Car Rental Insurance
Fraud Liability
Travel Insurance
Emergency Support
Lost Luggage Insurance
Cash Advance APR
(Variable APR)
10.5% - 18%
8% 27%
Purchases APR
(Variable APR)
10.5% - 18%
0% 29%
Balance Computation
average daily balance (including new purchases)
Credit Limit
15000
Balance Transfer APR
(Variable APR)
10.5% - 18%
8% 29%

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