Gate City Bank Secured Card Review
This is a
secured credit card
issued by Gate City Bank.
If you're wondering whether Gate City Bank Secured Card is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.
- High APRs. This is not a great card for people who carry a balance. It has a
- Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% 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.
- Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have good approval odds.
Pros & Cons of Gate City Bank Secured Card
- Identity Theft Protection.
- Considers applicants with fair or poor credit.
- Gate City Bank Secured Card reports to multiple credit bureaus.
- Higher than average purchase APRs.
- Charges an annual fee of $35
- Does not offer a signup bonus.
- Does not offer rewards or cash back.
- Charges a foreign transaction fee of 3%.
- You don't earn rewards on every purchase.
- Does not include many credit card benefits.
Gate City Bank Secured Card FAQ
Does Gate City Bank Secured Card have a cash back or rewards program?
No, it does not offer a rewards program.
What are the Gate City Bank Secured Card benefits?
It provides the following benefits:
- Zero fraud liability
- Reports to major credit bureaus
What are the relevant APRs for Gate City Bank Secured 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.
It has higher than average regular APRs.
It has a
The card has a
balance transfer APR
It also has a
cash advance APR
Does Gate City Bank Secured Card have an intro APR offer on balance transfers?
No, it does not come with an intro APR offer for balance transfers.
Does Gate City Bank Secured Card have an intro APR offer on new purchases?
This card does not offer an intro APR rate on new purchases.
What are the fees for Gate City Bank Secured Card?
The following fees apply:
Gate City Bank Secured Card Fees
|Foreign Transaction Fee
|Returned Payment Fee
||up to $35
|Late Payment Fee
||up to $40
Does Gate City Bank Secured Card have a foreign transaction fee?
Gate City Bank Secured Card charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge foreign transaction fees.
What is the customer service phone number for Gate City Bank Secured Card?
The Gate City Bank Secured Card customer service number is (800) 423-3344.
Does Gate City Bank Secured Card report your account activity to credit bureaus?
Yes, Gate City Bank Secured Card reports your account activity to the following credit reporting agencies:
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 Gate City Bank Secured Card
- Visit the Gate City Bank 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.
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