Exchange Bank Secured Visa® Card

Exchange Bank Secured Visa® Card Review

This is a secured credit card card issued by Exchange Bank of Milledgeville. If you're wondering whether Exchange Bank Secured Visa® 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. Exchange Bank Secured Visa® 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.
• Multiple credit card benefits. Includes generous credit card perks, such as Auto Rental Collision Damage Waiver, emergency support, extended warranty protection on purchases, identity theft protection, travel assistance, and fraud protection.
• Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have relatively good approval odds.

Pros & Cons of Exchange Bank Secured Visa® Card

The Good	The Bad
No annual fee. Multiple credit card perks. Offers Auto Rental Collision Damage Waiver. Extended warranty on purchases. Identity Theft Protection. Travel assistance insurance Considers applicants with fair credit. Exchange Bank Secured Visa® Card reports to multiple credit bureaus.	Higher than average purchase APRs. Does not offer a signup bonus. Does not offer rewards or cash back. Charges a foreign transaction fee of 2%. You don't earn rewards on every purchase. Charges a 3% balance transfer fee

Exchange Bank Secured Visa® Card FAQ

Does Exchange Bank Secured Visa® Card have a cash back or rewards program?

No, it does not offer a rewards program.

What are the Exchange Bank Secured Visa® Card benefits?

It provides the following benefits:

• Auto Rental Collision Damage Waiver
• Emergency Support
• Extended Warranty Protection
• Zero fraud liability
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for Exchange Bank Secured Visa® Card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular APRs.

Exchange Bank Secured Visa® 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 Exchange Bank Secured Visa® Card?

The following fees apply:

• There is no overlimit fee

Exchange Bank Secured Visa® Card Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$0
Initial Program Fee	$
Foreign Transaction Fee	2%
Returned Payment Fee	Starting at $ up to $41
Late Payment Fee	Starting at up to $41

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

Does Exchange Bank Secured Visa® Card report your account activity to credit bureaus?

Yes, Exchange Bank Secured Visa® 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 Exchange Bank Secured Visa® Card

• Visit the Exchange Bank Secured Visa® 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.