Secured Visa Credit Card Review

The Secured Visa Credit Card is not one of our top-rated balance transfer credit cards. You can review our list of the best balance transfer credit cards for what we think are better options.


Full Review of Secured Visa Credit Card


Cons

  • No interest-free period for purchases


Pros Explained

  • Low Ongoing APR: The ongoing APR on this card is low compared to other balance transfer cards. You’ll be charged up to 20.99%, depending on creditworthiness. If your credit is solid enough to qualify for the low end of that range, you’ll have one of the lowest APRs on purchases available.


Cons Explained

  • No Interest-Free Period for Purchases: Even though the Secured Visa Credit Card has a low ongoing APR for purchases, its lack of an interest-free period puts this card at a disadvantage. Several cards on the market offer a 0% introductory period for purchases in, some even offer it in addition to balance transfers.


The Secured Visa Credit Card card is suited to those who aren’t concerned with earning cash back or points, since it doesn’t offer rewards.


Secured Visa Credit Card One-Time Offer

The Secured Visa Credit Card does not offer a welcome bonus at this time, which is not uncommon for secured credit cards.

Several nonsecured cards on the market have more lucrative bonus offers, albeit with higher spending requirements. If you need a secured card, however, the Discover it Secured card doubles the cash back you’ve earned at the end of your first year. It also features a 10.99% APR on balance transfers for the first six months after opening your account.


Standard Benefits

  • Fraud protection
  • Free FICO score
  • Zero liability for fraudulent charges
  • Chip-enabled technology


Cardholder Experience

First National Bank of Omaha ranked among the best banks in the Lower Midwest in JD Power’s 2022 US Retail Banking Satisfaction Study. Its score of 682 was third overall in the region and 32 points better than the Region average.

Cardholders can get in touch with the customer service department by calling 888-530-3626, visiting a local branch, or sending a secure email through their account. Customers can also Tweet questions and comments to @FNBO on Twitter.


Security Features

This card has several built-in security features standard in the industry. Cardholders get 24/7 fraud protection, fraud alerts, chip-enhanced technology, and zero-fraud liability. It also provides a free FICO score each month.


Fees to Watch out For

This card has a balance transfer fee of $ 10 or 5% of the amount of each transfer. Balance transfer fees are typical, but this card’s fee is higher than others. All other fees on this card are in line with industry standards.


Our Verdict

If you won’t qualify for this card because of where you live, you may want to consider a card with broader availability. The Capital One Platinum Secured card, for example, offers the flexibility of paying the deposit in installments. It also offers automatic credit line increases in as little as six months, and the credit line sometimes can be higher than the required security deposit.

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