| Last updated on October 27th, 2023
Golden 1 Member First Visa® Card
Golden 1 Member First Visa® Card
- 15.04% variable based on the Prime Rate Regular Purchase APR
- 15.04% variable based on the Prime Rate Balance Transfer APR
- 15.04% variable based on the Prime Rate Cash Advance APR
At a Glance
The Golden 1 Member First Visa® Card is a no-frills secured credit card offer from Golden 1 Credit Union. With no annual fee, no balance transfer fee, and a low APR for purchases, the secured card is ideal for anyone who wants to establish, build, or repair their credit.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Funds used for deposit will earn dividends
- Credit limit: $250 to $3,000
- Low APR
- Regular Purchase APR: 15.04% variable based on the Prime Rate
- Balance Transfer APR: 15.04% variable based on the Prime Rate
- Cash Advance APR: 15.04% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $5 or 2.5% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: Up to 1% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $15
- Return Payment Penalty Fee: Up to $25
- Minimum Deposit Required: $250
- You need to build (or repair) your credit history
- You don’t want to pay an annual fee or balance transfer fee
- You want to earn dividends from your security deposit
- You will take advantage of a low purchase APR
- You are a member of the Golden 1 Credit Unio
Golden 1 Member First Visa® Card Review
The Golden 1 Member First Visa® Card is an excellent companion on a credit-building journey. Whether you’re establishing credit for the first time or working to repair your credit, the Golden 1 Member First Visa provides the power to purchase everyday essentials or pay bills to bolster your credit history with monthly on-time payments.
Open an Account with as Little as $250
Secured cards differ from unsecured (or regular) credit cards in that they require a security deposit. This cash deposit acts as the collateral for the loan, making them easier to open than unsecured cards, and provides the credit limit. With the Golden 1 secured credit card, that initial deposit starts as low as $250, with a maximum deposit of $3,000. Golden 1 members looking to build a positive credit history can open a new Member First Visa® account with as little as $250.
Build Credit with Regular Payments
Like other secured credit cards, the Golden 1 Member First Visa® Card builds credit with regular, on-time payments. Each month, payment information is reported to the credit bureaus, so making payments on time will help you build a positive credit history. This process is further aided by cess Mobile Banking and Online Banking to monitor your accounts, plus Credit Sense to access your credit score, credit report, and more.
It’s recommended to not carry a balance with a secured card, as bank and credit issuers pay close attention to secured card cardholders’ activity; after all, you’re meant to be demonstrating responsible financial behavior, and the best way to do this and have your card upgraded to a rewards credit card is to pay your balance in full, each billing cycle.
Deposit Earns Dividends
A great perk of the Golden 1 Member First Visa® Card is that cardholders will be able to earn dividends on the funds that are held in their savings account; essentially, whatever deposit is made for the credit limit will earn dividends as long as it remains in the account.
No Hidden Fees
Beyond a solid credit-building platform, the Golden 1 Member First Visa secured credit card also boasts no fees for many common charges. Cardmembers enjoy:
- $0 annual fee
- $0 balance transfer fee
- $0 over-the-credit-limit fee
- No penalty APR
One fee that Golden 1 does charge is a foreign transaction fee. Expect to pay a fee of 1% if the transaction price is in US dollars should you take and use your Golden 1 credit card abroad.
Credit unions typically offer interest rates significantly lower than rates for similarly marketed products from big banks. Golden 1 is no different, providing highly competitive rates for its credit card products.
Other Card Features
The Golden 1 Member First Visa® Card features Visa Classic benefits and protections. These features include:
|Zero Fraud Liability
|Cardholder Inquiry Services
|Emergency Card Replacement
|Roadside Dispatch and Auto Collision Damage Waiver
|Lost/Stolen Card Reporting
|ID Navigator from Norton
Other features include:
- ID Navigator by NortonLifeLockTM: Provides updates that keep you informed and help you protect your personal Mobile Wallets: identity and information
- Make secure and easy purchases using Apple Pay®, Google Pay™, or Samsung Pay™
- Contactless Payments: Pay with ease! Tap your contactless credit card on the eligible point-of-sale terminals
Should You Apply for the Golden 1 Member First Visa® Card?
All in all, the Golden 1 Member First Visa® is a solid secured credit card offer – with no annual fee, no balance transfer fee, and an extremely competitive, middle-of-the-road purchase APR, repairing or building your credit will be easy. Since there’s no fee for balance transfers, you can easily transfer your balance from a previous card and start making payments immediately without having to pay a cent more than you need to establish your credit today!
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