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LATAM Visa® Secured Credit Card

LATAM Visa® Secured Card

5,000 Bonus Points After First Card Use

LATAM Visa® Secured Card
  • Regular Purchase APR 22.99% variable based on the Prime Rate
  • Balance Transfer APR 22.99% variable based on the Prime Rate
  • Cash Advance APR 24.24% variable based on the Prime Rate
  • Annual Fee $0 for the first 12 months. After that, $25
  • Credit Needed Poor , No Credit Required
  • Processing Network Visa
Best Benefits
  • Get 1 LATAM Pass Point for every eligible net $1 you spend
  • Receive 10% discount on first LATAM Airlines purchase (up to $500) one time per year
  • Earn 5,000 bonus points after your first card use
  • No cap on points earned
Rates & Fees
  • Regular Purchase APR: 22.99% variable based on the Prime Rate
  • Balance Transfer APR: 22.99% variable based on the Prime Rate
  • Balance Transfer Transaction Fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
  • Cash Advance APR: 24.24% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either 4% of the amount of each advance or $5 minimum, whichever is greater.
  • Annual Fee: $0 for the first 12 months. After that, $25
  • Foreign Transaction Fee: Up to 3% of each foreign purchase transaction amount
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $35
  • Minimum Deposit Required: $300
Credit Card Deals
  • Complimentary EZ Mini Crunchies (60g) when you spend S$120 - Offer Expires on December 31, 2020 - See Details
  • 10% off museum entry - Offer Expires on December 31, 2020 - See Details
  • Save up to 55% on London theater tickets - Offer Expires on December 31, 2020 - See Details
  • Save an extra 10% on Tower of London access tickets - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Alamo® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Enterprise Rent-A-Car® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The Paris Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The London Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% when you purchase your Go Barcelona Pass - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% when you purchase your Go Bangkok Pass - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

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At a Glance

The LATAM Visa® Secured Card is a secured credit card for those who are trying to establish (or rebuild) their credit but don’t want to miss out on rewards while doing so. The card earns one point per dollar spent on purchases, plus an additional 5,000 bonus points after making the first purchase. Cardholders also receive a 10% discount on their first LATAM purchase each year – a value of up to $500 – all for a $25 annual fee (which U.S. Bank waives for the first year).

Ideal for Those Who:

  • Prefer to fly with LATAM
  • Are trying to establish – or rebuild – their credit, but want perks along the way
  • Want to earn LATAM Pass points for every purchase they make
  • Frequently travel to Central or South America

LATAM Visa® Secured Card Review

The LATAM Visa® Secured Card from U.S. Bank is a secured credit card that offers holders rewards. Secured credit cards are a great way for those looking to improve their credit score, as well as those who have the little-to-no credit history to speak of to establish a credit track record with on-time payments.

What makes the LATAM Visa® Secured Card so unique is that cardholders can earn while they build their credit. Members earn a single LATAM point for every eligible dollar they spend on purchases, with no cap on the number of they can earn. New accounts also benefit from 5,000 bonus points once they make their first purchase with the card, plus a 10% discount on their first LATAM ticket purchase each year (a value of up to $500)).

How to Use LATAM Points

The LATAM Pass rewards program is one of the richest programs in the Americas – and one of the most popular. Points are applicable towards travel with LATAM, LATAM subsidiaries, and LATAM codeshare partners, including their new partnership with Delta – the world’s largest carrier. Points also apply towards seat upgrades, additional baggage allowances, and other associated travel costs with LATAM and LATAM partners.

Should You Apply for the LATAM Visa® Secured Card?

LATAM is South America’s largest carrier, with subsidiaries scattered across the continent. The LATAM Visa Secured Card is an excellent way to travel and build a solid credit history at the same time. Earning a point for every dollar spent on purchases might not seem like a lot, but it’s the same point-earning rate of the unsecured LATAM Visa Card, which has a higher annual fee.

LATAM points are essentially kilometers which apply towards redemption flights. LATAM does not allow one-way fares for redemption flights, meaning redeeming points for tickets can be pricey. A roundtrip flight from Miami to Argentina, for example, will likely cost around 70,000 points.

Because of this, many potential secured card applicants might view the bonus points on offer as a waste of time. While 5,000 bonus points might seem like an insignificant drop in the bucket towards a free flight, it is a start – and a start that many secured cards simply do not offer.

Additionally, moving up to an unsecured LATAM Card, such as the LATAM Visa signature or the LATAM Visa Card, provides Secured Cardholders with even more points as a sign-up bonus, meaning they can receive up to 25,000 bonus points (excluding points earned from purchases) just for rebuilding their credit with U.S Bank and LATAM!

The LATAM Visa Secured Card also benefits from an annual fee of $25, which is waived for the first year. While there are a few secured cards that offer no annual fee, there are even fewer that offer awards to cardholders. The LATAM Visa Secured Card offers both (for the first year). While the fee rises to $25 for the second year – and every year after that – $25 is still a very good yearly charge for a secured card.

Read Also: What are the best secured cards of 2020?

For more information on bad credit and secured credit cards, visit our Comprehensive Secured Card Reference Page, featuring the best-secured card offers, detailed advice, and tips to help you build your credit history.