MIT Federal Credit Union Secured Visa Card

MIT Federal Credit Union Secured Visa Card Review

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

Key Takeaways

• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases.
• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR starting at 25.99%
• 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. MIT Federal Credit Union 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 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.

Pros & Cons of MIT Federal Credit Union Secured Visa Card

MIT Federal Credit Union Secured Visa Card FAQ

Does MIT Federal Credit Union Secured Visa Card have a cash back or rewards program?

No, it does not offer a rewards program.

What are the MIT Federal Credit Union Secured Visa Card benefits?

It provides the following benefits:

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

What are the relevant APRs for MIT Federal Credit Union Secured Visa Card?

MIT Federal Credit Union Secured Visa Card has a variable purchase APR starting at 25.99% . The card has a variable balance transfer APR starting at 25.99% . It also has a variable cash advance APR starting at 25.99% .

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

What are the fees for MIT Federal Credit Union Secured Visa 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 MIT Federal Credit Union Secured Visa Card report your account activity to credit bureaus?

Yes, MIT Federal Credit Union 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 MIT Federal Credit Union Secured Visa Card

• Visit the MIT Federal Credit Union 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.