MECU Visa Platinum Secured

MECU Visa Platinum Secured Review

This is a secured credit card card issued by MECU. If you're wondering whether MECU Visa Platinum Secured is the right card for you, read on.

Key Takeaways

• 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.
• $0 Balance transfer fee. This card does not charge a fee on balance transfers. After the introductory period, the fee is 0%.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 1% 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.

Pros & Cons of MECU Visa Platinum Secured

The Good	The Bad
Potentially lower than average purchase APRs. Has an introductory APR rate on balance transfers of 1.99%. No balance transfer fee. No annual fee. Travel assistance insurance Considers applicants with fair credit. MECU Visa Platinum Secured reports to multiple credit bureaus.	Does not offer a signup bonus. Does not offer rewards or cash back. Charges a foreign transaction fee of 1%. You don't earn rewards on every purchase.

MECU Visa Platinum Secured FAQ

Does MECU Visa Platinum Secured have a cash back or rewards program?

No, it does not offer a rewards program.

What are the MECU Visa Platinum Secured benefits?

It provides the following benefits:

• Emergency Support
• Zero fraud liability
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for MECU Visa Platinum Secured?

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 lower than average regular APRs.

MECU Visa Platinum Secured has a variable purchase APR starting at 12.92% . The card has a variable balance transfer APR starting at 12.92% . It also has a variable cash advance APR starting at 12.92% .

The good news is this card does not charge a penalty APR if you are late on a payment.

What are the fees for MECU Visa Platinum Secured?

The following fees apply:

• There is no overlimit fee

MECU Visa Platinum Secured Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$0
Foreign Transaction Fee	1%
Returned Payment Fee	up to $15
Late Payment Fee	up to $24

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

Does MECU Visa Platinum Secured report your account activity to credit bureaus?

Yes, MECU Visa Platinum Secured 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 MECU Visa Platinum Secured

• Visit the MECU Visa Platinum Secured 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.