Cobalt Credit Union Secured Card

Cobalt Credit Union Secured Card Review

This is a secured credit card card issued by Cobalt Credit Union. If you're wondering whether Cobalt Credit Union Secured Card is the right card for you, read on.

Key Takeaways

• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 26.99%
• No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. Cobalt Credit Union Secured Card charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees. The minimum fee is $5.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 2% every time you make a transaction outside the U.S.
• Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
• Fair or better credit required. You will have good approval odds if your credit score is above 650.

Pros & Cons of Cobalt Credit Union Secured Card

Cobalt Credit Union Secured Card FAQ

Does Cobalt Credit Union Secured Card have a cash back or rewards program?

No, it does not offer a rewards program.

What are the relevant APRs for Cobalt Credit Union Secured Card?

Cobalt Credit Union Secured Card has a variable purchase APR of 26.99%. The card has a variable balance transfer APR of 26.99% . It also has a variable cash advance APR of 28.99% .

What are the fees for Cobalt Credit Union Secured Card?

The following fees apply:

• There is no overlimit fee

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost card.

Does Cobalt Credit Union Secured Card report your account activity to credit bureaus?

Yes, Cobalt Credit Union Secured Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Cobalt Credit Union Secured Card

• Visit the Cobalt Credit Union Secured Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.