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  US Bank LATAM Visa® Secured Card

US Bank LATAM Visa® Secured Card

in Personal Credit Cards from US Bank

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US Bank LATAM Visa® Secured Card

Unaffiliated

in Personal Credit Cards from US Bank

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Highlights
Highlights
Purchase APR  (Variable APR) 22.99%
Balance Transfer APR  (Variable APR) 22.99%
Credit Score Range 300 - 640
Annual Fee $25

US Bank LATAM Visa® Secured Card Review

US Bank LATAM Visa® Secured Card is a secured credit card rewards credit card issued by US Bank. If you're wondering whether US Bank LATAM Visa® Secured Card is the right card for you, read on. This is everything you need to know to make a good choice.

Key takeaways:

  • Signup bonus. Offers a signup bonus of 5000 points that can be redeemed for travel, gifts, or other perks.
  • High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 22.99%
  • Annual fee waived the first year. US Bank LATAM Visa® Secured Card gives you the chance to have the card for a year without paying the $25 annual fee.
  • 3% Balance transfer fee. US Bank LATAM Visa® Secured Card charges a fee of up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $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.
  • Accepts cosigners. US Bank is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
  • 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.
  • Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, travel accident insurance, travel assistance, and fraud protection.
  • Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still qualify.

US Bank LATAM Visa® Secured Card Pros and Cons:

The Good The Bad
  • Annual fee waived during the first year.
  • Multiple credit card perks.
  • Offers auto rental collision damage waiver.
  • Travel accident and travel assistance insurance.
  • Considers applicants with fair or poor credit.
  • Cardholders can earn rewards on every purchase.
  • Earn rewards on every purchase.
  • US Bank LATAM Visa® Secured Card reports to multiple credit bureaus.
  • Cardholders can earn rewards on their purchases.
  • Higher than average purchase APRs.
  • Charges an annual fee of $25
  • Charges a foreign transaction fee of 3%.
  • Charges a 3% balance transfer fee.

Is there a US Bank LATAM Visa® Secured Card cash back or rewards program?

US Bank LATAM Visa® Secured Card offers a rewards program to its customers.

US Bank LATAM Visa® Secured Card Rewards
Rewards rate (all purchases) 1%
Max rewards rate N/A
Annual rewards limit 2000
Signup Bonus ($) N/A
Signup Bonus (Points/Miles) 5000

Does US Bank LATAM Visa® Secured Card have a signup bonus?

US Bank LATAM Visa® Secured Card doesn't offer a cash signup bonus. However, it does include a 5000 points signup bonus that can be redeemed for travel, gifts, or other perks.

Does US Bank LATAM Visa® Secured Card offer an annual loyalty bonus?

US Bank LATAM Visa® Secured Card doesn't offer a cash loyalty bonus.

What are the US Bank LATAM Visa® Secured Card benefits?

US Bank LATAM Visa® Secured Card provides the following benefits:

  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Zero fraud liability
  • Travel Accident Insurance
  • Travel Assistance
  • ID Theft Protection
  • Reports to major credit bureaus

What are the relevant APRs for US Bank LATAM Visa® Secured Card?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. US Bank LATAM Visa® Secured Card has higher than average purchase APRs.

US Bank LATAM Visa® Secured Card has a variable purchase APR of 22.99%. The card has a variable balance transfer APR of 22.99% . It also has a variable cash advance APR of 24.24% .

Does US Bank LATAM Visa® Secured Card have an introductory APR offer on balance transfers?

No, US Bank LATAM Visa® Secured Card does not come with an introductory APR offer for balance transfers.

Does US Bank LATAM Visa® Secured Card have an introductory APR offer on new purchases?

US Bank LATAM Visa® Secured Card does not offer an introductory rate on new purchases.
US Bank LATAM Visa® Secured Card Purchase Intro Offer
Description
Introductory Rate N/A
Purchase Intro APR Period (months) N/A

What are the fees for US Bank LATAM Visa® Secured Card?

The following fees apply to US Bank LATAM Visa® Secured Card:

  • There is no overlimit fee
US Bank LATAM Visa® Secured Card Fees
Fees Amount
Annual Fee $25
Overlimit Fee $0
Foreign Transaction Fee 3%
Returned Payment Fee up to $35
Late Payment Fee up to $40

Does US Bank LATAM Visa® Secured Card have a foreign transaction fee?

US Bank LATAM Visa® 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 a foreign transaction fee.

Does US Bank LATAM Visa® Secured Card report your account activity to credit bureaus?

US Bank LATAM Visa® 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 can help improve your credit score.

How to apply for US Bank LATAM Visa® Secured Card

  • Visit the US Bank LATAM Visa® 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 you're denied click here to find out why your application may have been rejected and what you can do about it.

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.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

  Available in 50 states and Washington, D.C.
  • 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

Every Purchase (Points) 1 LATAM Pass Mile for every eligible net $1 you spend
No Annual Fee First Year  
Over-Limit Fee $0
No Interest Grace Period for Late Payment 24 days
Cash Advance Fee (%) Up to 4%
Minimum Cash Advance Fee ($) Starting at $5
Foreign Currency Transaction Fee 3%
Annual Fee $25
Minimum Interest Charge $2
Returned Payment Fee Up to $35
Late Fee Amount Up to $40
Customer Type Personal
Minimum Age 18
Co-signing Allowed  
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 300 - 640
Card Type
  • Airline
  • Bad Credit
  • Rewards
  • Secured
  • Travel
Card Network Visa
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Emergency Support  
Travel Insurance  
Fraud Liability  
Extended Warranty  
Car Rental Insurance  
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Fraud Liability
  • Identity Theft Protection
  • Travel Accident Insurance
  • Travel Assistance
Annual Maximum 2,000
Rewards Categories Every Purchase
Signup Bonus (points) 5,000
Rewards Type Points
Cash Advance APR (Variable APR) 24.24%
Balance Computation average daily balance (including new purchases)
Credit Limit $5,000
Purchase APR (Variable APR) 22.99%
Balance Transfer APR (Variable APR) 22.99%
Balance Transfer Fee Minimum $5
Balance Transfer Fee % 3%

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SUPERMONEY NET RECOMMENDATION SCORE

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Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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