American Savings Bank Secured Visa Card
- Annual fee
- None
- Recommended credit
- Poor / No Credit Required
- Card network
- Visa
- Regular purchase APR
- 29.24% variable based on the Prime Rate
At a glance
The American Savings Bank Secured Visa Card is a basic-yet-effect secured credit card for those new to credit or seeking to rebuild a damaged credit score. The card is from American Savings Bank, a Hawaii-based bank.
Our review of the American Savings Bank Secured Visa Card
If you’re struggling with bad credit, the American Savings Bank Secured Visa Card could be the solution you need to rebuild your credit history. Secured credit cards are a great way to demonstrate responsible credit usage and improve your credit score over time.
Request Your Credit Limit
The American Savings Bank Secured Visa offers a wide credit limit range, starting at a $300 minimum deposit and going up to a $5,000 maximum deposit. While $300 may be reasonable for some, there are other secured cards with lower minimum deposits, such as the Discover It Secured or the Assent Platinum 0% Intro Rate Mastercard.
Modest Annual Fee
With an annual fee of $35, the American Savings Bank Secured Visa falls in the middle of the pack compared to other secured cards. Some competitors, like the Discover It Secured, offer no annual fee, while others have lower interest rates for a similar fee.
A Higher-Than-Average APR
The purchase APR for the American Savings Bank Secured Visa is on the higher side, at over 24%. This is above the national average for secured credit cards, making it less attractive for those who plan to carry a balance. Other cards offer lower interest rates, such as the Assent Platinum 0% Intro Rate Mastercard or the Applied Bank Secured Visa.
Credit Line Increases
One of the standout features of the American Savings Bank Secured Visa is the opportunity for a credit limit increase without an additional deposit. Making seven on-time payments can lead to a higher credit limit, with the potential to transition to an unsecured credit card in as little as eleven months.
Other Card Features
In addition to the above, the American Savings Bank Secured Visa comes with standard Visa Traditional credit card features, including fraud protection, roadside assistance, monthly access to your FICO credit score, online account management, and Visa Global Services.
Should You Apply?
While the American Savings Bank Secured Visa Card has its advantages, it may not be the best option for everyone. If you’re looking for a card with no annual fee or lower interest rates, there are other options available from larger banks like Capital One, Discover, or Citi. However, if you’re already a customer of American Savings Bank or looking to build credit with a local institution, this card could be a good fit for you.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- Repair credit with on-time payments and responsible use
- Potential for a credit line increase with no additional deposit after 7 months
- Chance to get your security deposit returned after as little as 11 months
Who this card may suit
- You have bad credit or no credit history
- You live in Hawaii
- You already bank with American Savings Bank
- You plan to pay their balance in full
Rates, fees and terms
| Annual Fee | None |
|---|---|
| Regular Purchase APR | 29.24% variable based on the Prime Rate |
| Balance Transfer APR | 29.24% variable based on the Prime Rate |
| Balance Transfer Transaction Fee | Either $5 or 3% of the amount of each transfer, whichever is greater |
| Cash Advance APR | 29.99% variable based on the Prime Rate |
| Cash Advance Transaction Fee | Either $10 or 5% of the amount of each cash advance, whichever is greater |
| Foreign Transaction Fee | Up to 3% of the transaction amount in U.S. dollars |
| Late Payment Penalty Fee | Up to $41 |
| Return Payment Penalty Fee | Up to $41 |
| Minimum Deposit Required | $300 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Poor Credit Limited or No Credit.
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American Savings Bank Secured Visa Card
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