U.S. Bank Secured Visa Credit 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 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 various fraud and security protections from Visa – all for no annual fee.
Our review of the U.S. Bank Secured Visa Credit Card
Looking to build or rebuild your credit? The U.S. Bank Secured Visa® Card could be the right choice for you. With no annual fee, a reasonable minimum deposit, and the opportunity for credit limit reviews and graduation to unsecured credit in as little as 12 months, this secured card offers a solid option for those looking to improve their credit score.
Who Can Benefit from the U.S. Bank Secured Card?
Secured credit cards like the U.S. Bank Secured Visa® Credit Card are ideal for individuals in various situations:
- Individuals with Limited or Poor Credit History
- Young Adults or Students
- Individuals Recovering from Financial Setbacks
- Individuals Seeking to Gradually Transition to Unsecured Credit
- Those Wanting to Establish Good Financial Habits
How to Apply
Opening a secured credit card account with U.S. Bank is easy. Simply apply online with a valid U.S. Bank checking or savings account. If you don’t bank with U.S. Bank, you can print out an application and submit it with a cashier’s check or money order.
Security Deposit Earns Interest
The U.S. Bank Secured Visa® Card requires a minimum deposit that acts as your credit limit. Your deposit earns interest and is held in a secured U.S. Bank savings account. When you close your account, your security deposit is fully refunded as long as your account remains in good standing.
No Annual Fee
With no annual fee, the U.S. Bank Secured Card makes credit-building simple and cost-effective.
Credit Building Benefits
- Build Credit with Responsible Use
- Choose Your Payment Due Date
- Free Credit Score Access
- Graduate to Unsecured Credit
Other Card Benefits
- Mobile wallet connectivity
- EMV chip and pin technology
- Identity theft protection
- 24/7 online account access
- Visa Benefits like Zero Fraud Liability
Comparison
Here’s how the U.S. Bank Secured Visa® Card compares to other secured cards:
| Card | Annual Fee | Deposit Required | Credit Limit Increases | Credit Reporting |
|---|---|---|---|---|
| U.S. Bank Secured Visa® | $0 | $300 to $5,000 | Yes | Experian, Equifax, TransUnion |
| OpenSky® Plus Secured Visa® | $0 | $300 to $3,000 | Yes | Experian, Equifax, TransUnion |
| Capital One Platinum Secured | $0 | $49, $99, $200 | Yes | Experian, Equifax, TransUnion |
Tips for Building Credit
- Make timely payments
- Keep your credit utilization low
- Monitor your credit
- Gradually increase your credit limit
What We Like About the Card
One of the standout features of the U.S. Bank Secured Visa is the opportunity to graduate to unsecured credit within a year. This opens up a range of rewarding cards with no annual fee.
Things to Consider
- No Rewards
- Higher Initial Deposit Vs. Some Other Cards
Should You Apply for the U.S. Bank Secured Visa® Credit Card?
If you’re looking to build credit and potentially transition to unsecured credit, the U.S. Bank Secured Visa® Card is a solid choice. With responsible use, you can improve your credit score and open up opportunities for more lucrative rewards cards in the future. Take control of your credit journey and apply for the U.S. Bank Secured Visa® Card today.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- 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
- View your credit score anytime, anywhere in the mobile app or online banking
- 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
Who this card may suit
- You're looking to rebuild your bad credit
- You need to establish credit for the first time
- You want a secured card with competitive interest rates
- You want a suite of financial and fraud protections
- You want complimentary access to your FICO Score every month
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 | 2% 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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U.S. Bank Secured Visa Credit Card
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