At a Glance
The Golden 1 Platinum Secured 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, this card is ideal for anyone who wants to establish, build, or repair their credit.
The Golden 1 Platinum Secured Visa® Card is designed for anyone who is looking for a competitive rate even as they are building or repairing their credit. Credit card issuers often eschew applicants who have little, no, or bad credit history, and it may seem impossible to rebuild your reputation with the credit bureaus. Golden 1 Credit Union has a generous offer – with a purchase APR of 15.79% (enticingly low, as far as the APR for a secured card goes – often this rate can be as high as 25%!), you’ll be able to save money even if you carry a balance. 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. Once you’ve demonstrated responsible fiscal behavior, you can be upgraded to a credit card that offers cash back rewards from gas, grocery and restaurant purchases, like the Golden 1 Platinum Visa® Card. There are many other credit cards with great rewards programs, so it’s good incentive to improve your credit quickly.
A great perk of the Golden 1 Platinum Secured 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. The credit limit for this Platinum Secured card ranges from $250 to $3,000, and is determined by the security deposit made at the time the account is opened; in order to use this card, you will need a Golden 1 savings account. You can even use this card to get a cash advance for a fee of $5, or 2.5% of the amount of the cash advance (whichever is greater).
All in all, the Golden 1 Platinum Secured Visa® Card 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!
Apply for This Card if You:
- Need to build (or repair) your credit history
- Don’t want to pay an annual fee or balance transfer fee
- Want to earn dividends from your security deposit
- Will take advantage of a low purchase APR
- Are a member of the Golden 1 Credit Union
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