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U.S. Bank Secured Visa® Card

  • Regular Purchase APR 20.49% variable based on the Prime Rate
  • Balance Transfer APR 20.49% variable based on the Prime Rate
  • Cash Advance APR 25.49% variable based on the Prime Rate
  • Annual Fee $29
  • Credit Needed Poor , No Credit Required
  • Processing Network Visa
Best Benefits
  • ◉  Zero Fraud Liability - You are not responsible for unauthorized transactions if your U.S. Bank Secured Visa card is ever lost or stolen
  • ◉   Fraud Protection – detects and notifies you of any unusual card activity to help prevent fraud
  • ◉   Auto Rental Insurance - It's yours automatically - at no extra cost - when you charge your entire car rental on your U.S. Bank Secured Visa Card and decline the rental company's collision damage waiver option. Coverage on a 24-hour basis for damage due to collision or theft
  • ◉   FlexControl™ - U.S. Bank offers this online tool that can help you avoid interest and late fees with automatic payments that put you in control. It can also help you pay down a balance faster
Rates & Fees
  •  Regular Purchase APR: 20.49% variable based on the Prime Rate
  •  Balance Transfer APR: 20.49% 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: 25.49% variable based on the Prime Rate
  •  Cash Advance Transaction Fee: Either 4% of the amount of each advance or $10 minimum, whichever is greater
  •  Annual Fee: $29
  •  Foreign Transaction Fee: 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars, 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency
  • Late Payment Penalty Fee: Up to $39
  •  Return Payment Penalty Fee: Up to $35
  •  Credit Needed: Poor , No Credit Required

 

At a Glance

The U.S.Bank Secured Visa Card is designed for anyone who wants to build or re-establish their credit history. The card allows users to build up their credit score as they make purchases worldwide, and their security deposit even earns interest as long as the card account remains in good standing. The card also comes with a variety of fraud and security protections from Visa – all for an annual fee of $29.

Ideal for Those Who:

  • Are looking to rebuild their credit
  • Need to establish credit for the first time
  • Want a suite of financial and fraud protections

The U.S. Bank Secured Visa Card Review:

Rebuilding or establishing credit for the first time is never easy. Fortunately, secured credit cards, like the U.S. Bank Secured Visa Card, make it easy to demonstrate responsible credit use with everyday purchases.

Since rebuilding credit takes time, U.S. Bank makes the process worthwhile, providing interest on the initial security deposit. All secured cards require a security deposit that also operates as the line of credit. The Secured Visa from U.S. Bank, however, is one of only a handful that actually pays interest on that deposit, meaning that if you are responsible and make your payments on time, you’ll not only be building credit – but also interest on your money.

Banking with a trusted lender like U.S. Bank is always a good idea, and while the Secured Visa Card has an annual fee of $29, it’s not only in line with many other secured cards, but a fair price to pay for rebuilding your credit and hopefully getting the opportunity to upgrade to one of U.S. Bank’s many rewards credit cards or balance transfer cards in the future.

Like all Visa credit cards, the Secured Visa comes with a variety of security features and protections, including Auto Rental Collision Waivers, comprehensive fraud protection, Zero Fraud Liability, and access to your TransUnion credit score free of charge each month.

Should You Apply for the U.S. Bank Secured Visa Card?

The U.S. Bank Secured Visa is a quality card that actually accrues interest when the credit card account is in good standing. With regular, on-time payments, users can quickly build their credit score and hopefully move up to an unsecured credit card. The annual fee, however, may turn off quite a few potential applicants, especially as there are some excellent offers available that don’t charge an annual fee for the privilege of rebuilding credit (including the Discover It Secured, which also provides rewards).

 

Editorial Disclosure — The opinions expressed on BestCards’ reviews, blogs, and all other content on or relating to the website are solely those of the content’s author. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. Further, BestCards lists credit card offers that are updated daily with information believed to be accurate to the best of our knowledge.

Published: January 2, 2020 8:21 am

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