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UNITY Visa Secured Credit Card

in Personal Credit Cards

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UNITY Visa Secured Credit Card

Unaffiliated

in Personal Credit Cards

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Overview

Who is the Unity Visa Secured Credit Card Designed For?

The Unity Visa Secured Credit Card is designed for people with bad or no credit who want a secured card to improve their credit score. The main attraction of this card is that it accepts everyone who has the cash to make a deposit and pay the annual fee, and that it reports to all three credit bureaus. The credit limit varies from $250 to $10,000, which is a higher credit limit than many other secured cards. Of course, as with all secured cards, the credit limit is determined by the size of the security deposit. The card is issued by the OneUnited Bank, which has offices in Los Angeles, Boston and Miami and markets itself as the largest Black owned bank in the country.

What are the Rates for Unity Visa Secured Credit Card?

- The Unity Visa Secured Credit Card has a 17.99% APR on purchases, cash advances and balance transfers. The card comes with a 9.95% APR intro rate on balance transfers for the first 6 months. Note that all unpaid balance transfers will revert to 17.99% APR once the introductory period expires. OneUnited Bank likes to highlight that these rates are fixed and not variable as with most credit cards. That is true, but 17.99% APR is still high, whether fixed or variable, for a secured card where your line of credit is determined by the size of your security deposit.

What Are the Fees for Unity Visa Secured Credit Card Credit Card?

The Unity Visa Secured Credit Card has a $39 annual fee that is not waived the first year. It has 3% fee on balance transfers and cash advances, with a minimum of $10 and maximum of $150. There is also a 2% foreign transaction fee. These are expensive fees for a secured card. However, its penalty fees are comparatively low, $25 on returned payments and $10 on late payments, and there is no over-the-limit fee or penalty rate. On the other hand, beware of sneaky additional fees, such as a $10 credit limit increase fee, a $10 replacement or additional card fee, a $25 stop payment fee, and a $1 fee for payment assistance by phone.

What Is Unity Visa Secured Credit Card's Rewards Program Like?

The Unity Visa Secured Credit Card doesn't have a rewards program. The whole point of this card is to provide people with the convenience of a Visa card while helping them improve their credit.

What about Unity Visa Secured Credit Card's Signup Bonus?

Unity Visa Secured Credit Card does not have a signup bonus.

Does Unity Visa Secured Credit Card Have Any Other Benefits?

The Unity Visa Secured Credit Card does not include many benefits or perks. It doesn't charge an application fee and provides online account management, but that's about it.

How Is Unity Visa Secured Credit Card Better Than Other Credit Cards?

The Unity Visa Secured Credit Card is available to anyone with the cash to pay the annual fee and make a security deposit, regardless of their credit score. The card reports to all three major credit bureaus and has a credit limit of up to $10,000. This is a great perk for people trying to rebuild their credit, as long as they have the cash to make a substantial security deposit and are on time with their payments. A solid history of regular, on time, payments and a low debt-to-credit ratio can help increase a person's credit score over time. The security deposit is made with OneUnited Bank, which means it is secured and insured by the FDIC and therefore fully refundable.

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Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period / Deferred Interest (Months)
25
Over-Limit Fee
$0
Late Payment Penalty
$10
Returned Payment Fee
$25
Minimum Interest Charge
$1
Annual Fee
$39
Foreign Currency Transaction Fee
2%
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range
300 - 640
850 300 640
Minimum Age
18
Customer Type
Personal
Purchases APR
(Variable APR)
Starting at
17.99%
Balance Computation
average daily balance (including new purchases)
Credit Limit
10000
Balance Transfer APR
(Variable APR)
Starting at
17.99%
Transfer Fee
3%
Transfer Fee Minimum
$10
Transfer Fee
3%
Introductory Rate
9.95%
Intro APR period (months)
6

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