Union Bank Business Secured Visa® Credit Card

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Last updated on April 23rd, 2021

Union Bank Business Secured Visa® Credit Card

Build Your Business Credit

Union Bank Business Secured Visa® Credit Card
  • Regular Purchase APR 13.99% variable based on the Prime Rate
  • Balance Transfer APR 13.99% variable based on the Prime Rate
  • Cash Advance APR 25.25% variable based on the Prime Rate
  • Annual Fee $30
  • Credit Needed Fair , Poor
  • Processing Network Visa
Best Benefits
  • Establish your personal and business credit history with responsible use
  • Chip security included
  • 24/7 online account access
  • Easily set spending limits and establish alerts
Rates & Fees
  • Regular Purchase APR: 13.99% variable based on the Prime Rate
  • Balance Transfer APR: 13.99% variable based on the Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 25.25% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $15 or 5% of the amount of each cash advance, whichever is greater
  • Annual Fee: $30
  • Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: $35
  • Over Limit Penalty Fee: $35
  • Minimum Deposit Required: Disclosed after account opening
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At a Glance 

For those who want to fund their business but have little credit history, this card can provide them the purchasing power they require, as well as a gateway to build their financial reputation.

Ideal for Those Who:

  • Own or operate a business
  • Have little or no credit history
  • Have a low credit score
  • Already bank with Union Bank
  • Want a business credit card to help you pay for expenses necessary to keep your business running
  • Have not had a business credit card before

Union Bank Business Secured Visa® Credit Card Review

A business credit card can make taking care of overhead much easier – provided that you’re responsible with paying back what you owe – but if your credit is limited, your selection to choose from will also be limited. A secured business card is a suitable compromise, and this example from Union Bank offers the basic features that you’d need to take your company ahead.

Since this is a credit card designed for building or rebuilding your credit, you won’t get any fancy perks or juicy signup bonuses. There are also no promotional interest rates, and you are responsible for placing a deposit that will act as collateral as well as your spending limit. In addition, you are responsible for paying an annual fee to maintain your account open.

One significant advantage of the Union Bank Business Secured Visa® Credit Card is its regular APR. Whereas most secured cards have high interest rates – which serve to discourage cardholders from missing payments or amassing high balances – this product compares with a fairly low figure. And while you shouldn’t fall prey to poor spending habits, you won’t feel as painful a sting if you happen to miss a due date or are unable to completely pay off a balance for a given billing period.

Should You Apply for the Union Bank Business Secured Visa® Credit Card?

Ultimately, you should use the Union Bank Business Secured Visa® Credit Card to pay for any expenses that fall within your limit and establish your credit history in the process. Be it office supplies, Internet service, or shipping, this card can give you a quick way to fund the everyday aspects of your enterprise. Once you’ve raised your credit score and built a satisfying credit report history, you’ll be able to move on to more robust business credit cards with additional benefits.

For more information small business 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 and that of your company.

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