Gate City Bank Secured Card

Gate City Bank Secured Card Review

This is a secured credit card 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 fixed purchase APR of 24.24%
• 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 relatively good approval odds.

The Good	The Bad
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.

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. This card has higher than average regular APRs.

Gate City Bank Secured Card has a fixed purchase APR of 24.24%. The card has a fixed balance transfer APR of 24.24% . It also has a fixed cash advance APR of 25.24% .

What are the fees for Gate City Bank Secured Card?

The following fees apply:

Gate City Bank Secured Card Fees

Fees	Amount
Annual Fee	$35
Foreign Transaction Fee	3%
Returned Payment Fee	up to $35
Late Payment Fee	up to $40

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:

• 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 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.