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Last updated on March 8th, 2021
Arrowhead Share-Secured Visa®
Build a Positive Credit History
- No annual fee
- No balance transfer fees
- No cash advance fees
- Regular Purchase APR: 17.99% variable based on the Prime Rate
- Balance Transfer APR: 17.99% variable based on the Prime Rate
- Cash Advance APR: 17.99% variable based on the Prime Rate
- Penalty APR: 24.99% variable based on the Prime Rate
- Foreign Transaction Fee: Up to 1% of each transaction in U.S. Dollars
- Late Payment Penalty Fee: Up to $15
- Minimum Deposit Required: $300
At a Glance
The Arrowhead Share-Secured Visa® is a secured credit card that doesn’t trick users with hidden fees. The card, from Arrowhead Credit Union in California, requires a deposit that also acts as the line of credit. With this card, the minimum deposit is $300, while the maximum is $5,000. The card features no hidden or annual fees, and a standard APR on purchases, balance transfers, and cash advances of around 20% – though the exact rate varies depending on the Prime Rate.
Ideal for Those Who:
- Currently bank with Arrowhead Credit Union or live in Southern California
- Want to boost your credit score
- Don’t like annual fees
- Hate hidden fees
Arrowhead Share-Secured Visa® Review
The Arrowhead Share-Secured Visa® is a secured credit card from up-and-coming California credit union, Arrowhead Credit Union. The card, like other secured cards, requires an initial deposit that also acts as the line of credit. In the instance of this card, the minimum deposit is $300, while the maximum is $5,000.
Related Article: What Are the Best Secured Cards for Rebuilding Credit?
The Arrowhead Share-Secured Visa® shines in that it lacks pretty much all fees. The card features no annual fees, no balance transfer fees, and no cash advance fees. Typically, secured cards have an annual fee, which makes the Arrowhead version of the Secured Visa such a refreshing take. Secured cards are a great way to establish good financial habits, and selecting a card that features no hidden fees is a great place to start.
Another great way to boost a credit score is by making sure you stay on top of your credit report: and the Arrowhead Share-Secured Visa® shines in this regard, providing free access to FICO scores each month. Since Arrowhead Credit Union reports to all three major credit bureaus – Equifax, Experian, and TransUnion – making on-time and in-full payments each month is a great way to work your way up to an unsecured card, such as the Arrowhead Visa.
Should You Apply for the Arrowhead Share-Secured Visa®?
The Arrowhead Share-Secured Visa® is a very solid secured card from Arrowhead that, while not being a head-turner regarding rewards, is a straightforward, no hidden fee card that with proper use can pay dividends in the long term.
Related Article: What Are the Easiest Credit Cards for Bad Credit to Get?