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US Bank Secured Visa Card

in Personal Credit Cards

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US Bank Secured Visa Card

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in Personal Credit Cards

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Overview

Who is US Bank Secured Visa Card Designed For?

The US Bank Secured Visa Card is designed for people who need to rebuild their credit card and want to enjoy the benefits and convenience of a Visa credit card. US Bank accept applicants of all credit types and offers cardholders a quick path to a regular unsecured credit card.

What are the Rates for US Bank Secured Visa Card?

The US Bank Secured Visa Card charges cardholders 20.49% APR for purchases and balance transfers, and 25.49% APR on cash advances, regardless of their individual creditworthiness. That is average for a secured credit card with such flexible eligibility requirements. Notice this is a secured credit card, which means your line of credit is determined by how much you deposit as a security with the bank. Lines of credit vary from $300 to $5,000, which allows people with limited savings to qualify and gives people with more disposable income the chance to rebuild their credit faster.

What Are the Fees for US Bank Secured Visa Card?

US Bank Secured Visa Card has a $29 annual fee, which is competitive for a secured card. It also charges 3% (a minimum of $5) on balance transfers and 4% ($10 minimum) on cash advances and 3% on foreign transactions (2% when the transaction is in dollars). Late payments incur a $38 fee and returned payments have a $35 fee.

What Is US Bank Secured Visa Card Rewards Program Like?

US Bank's Secured Visa does not have a rewards program.

What about the US Bank Secured Visa Card Signup Bonus?

The US Bank Secured Visa does not have a signup bonus.

Does the US Bank Secured Visa Card Have Any Other Benefits?

US Bank's Secured Visa is not terribly competitive when it comes to fees and rates but it does include auto rental insurance, which is rare among secured cards. It also includes fraud protection, online banking, automatic bill pay and zero fraud liability.

How Is US Bank Secured Visa Card Better Than Other Credit Cards?

US Bank Secured Visa gives people who don't qualify for a regular unsecured credit card the opportunity of rebuilding their credit while they enjoy the worldwide purchasing power of a Visa card. Its annual fee is low compared to most secured cards, it doesn't charge an account processing fee and members earn interest on their security deposit.

US Bank's Secured Visa is available to people of all credit types and has a flexible security deposit policy that allows for deposits of $300 to $5,000. A high credit limit allows members to rebuild their credit faster. On top of that US Bank is fast when it comes to upgrading members from a secured to an unsecured credit card, sometimes within a year.

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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)
24
Over-Limit Fee
$0
Late Payment Penalty
$38
Returned Payment Fee
$35
Minimum Interest Charge
$2
Annual Fee
$29
Foreign Currency Transaction Fee
3%
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Credit Score Range
300 - 640
850 300 640
Minimum Age
18
Co-signing Allowed
Customer Type
Personal
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Fraud Liability
  • ID Theft Protection
Car Rental Insurance
Fraud Liability
Purchases APR
(Variable APR)
Starting at
20.49%
Balance Computation
average daily balance (including new purchases)
Credit Limit
5000
Balance Transfer APR
(Variable APR)
Starting at
20.49%
Transfer Fee
3%
Transfer Fee Minimum
$5
Transfer Fee
3% w/ $5 min

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