Webster Bank Visa® Secured Card
- Annual fee
- None
- Recommended credit
- Fair / Poor
- Card network
- Visa
- Regular purchase APR
- 29.24% variable based on the Prime Rate
At a glance
The Webster Bank Visa® Secured Card offers cardholders a $5,000 credit limit. Applicants must submit a security deposit that will equal the amount of the credit limit. This card features one flat interest rate for all cardholders. Additionally, cardholders must pay a $35 annual fee to use this card.
Our review of the Webster Bank Visa® Secured Card
The Webster Bank Visa® Secured Card is a great option for those with no credit history or poor credit. This secured card can help you build or repair your credit while offering features to protect you from falling into further debt.
Build or Repair Your Credit
If you’ve been struggling to get approved for a regular credit card, the SNB Visa® Secured Card can help you get back on track. Your credit history doesn’t factor into approval, making it accessible to all. By using the card responsibly, making minimum monthly payments, and paying off your debt, you can gradually improve your credit score.
Single APR
With the Webster Bank Visa® Secured Card, you don’t have to worry about fluctuating interest rates. Every applicant receives the same APR, removing the uncertainty of what rate you’ll qualify for. While the APR may be higher than average, it’s a common trade-off for secured credit cards.
Security Deposit = Credit Limit
To open an account, you’ll need to make a security deposit, which serves as collateral in case you can’t pay off your balance. Your credit limit is equal to your deposit amount, starting at a minimum of $300. You may have the opportunity to increase your credit limit over time by adding to your security deposit.
Should You Apply for the Webster Bank Visa® Secured Card?
While the SNB Visa® Secured Card can help you build credit, it’s important to consider alternatives with lower fees and APR. Cards like the Discover It offer rewards programs and better terms. Ultimately, the SNB Visa® Secured Card is comparable to other high-rate secured cards with no annual fee.
If you’re looking to build or repair your credit, explore other secured card options before applying for the Webster Bank Visa® Secured Card.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- One flat APR for all
- Credit limit up to $5,000
- Earn interest on your security deposit
- Get a free extra card
Who this card may suit
- You have poor credit or no credit
- You need to build or repair your credit
- You prefer to know what your APR will be before you apply
- You do not need a high credit limit
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 $5 or 3% of the amount of each transfer, 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: Fair Credit Poor Credit.
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Webster Bank Visa® Secured Card
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