US Bank Offering Opportunity to Build Credit Score with a Secured Visa® Credit Card

U.S. Bank is providing its customers with the chance to build their credit score with the help of a Secured Visa Credit Card. Through this credit card, users will have the chance to establish or rebuild their credit history. Apart from being equipped with an automatic payment feature, this credit card also allows cardholders to choose a payment due date that caters to their schedule.

However, cardholders can only fund their credit card in two ways. One option being made available to users is using their online funds and transferring money via checking or savings account. Another option made available to interested applicants is by submitting an application and mailing a cashier’s check or through money order facilities. Applicants are advised to note that personal checks will not be entertained.

The minimum amount to be reloaded into the account is $300, while the maximum amount is $5,000. Additional reloads will only be entertained if these are made through hundred-dollar increments.

Qualifications and Application

Interested applicants may apply online or by visiting a branch near them. To apply, individuals must be of legal age. In filling out the application form, applicants will need to provide their personal information, employment and salary details, and housing information. For a U.S. Bank Secured Visa Credit Card, applicants will also be asked the type of funding account they wish to avail as well as the amount they wish to secure in their amount.

Those who will be approved under this credit card will be given a credit limit that will match the amount users have in their respective accounts.

Credit Card Fees and Charges

The annual fee for the U.S. Bank Secured Visa Credit Card is $29. Meanwhile, the APR for purchases and balance transfers is 21.24%. The APR for cash advances, on the other hand, is 26.24%. The APR depends on the market based on the Prime Rate.

A late payment fee of up to $39 as well as a returned payment fee of up to $35 may also be charged.

RELATED ARTICLES

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles
Credit

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles Faces Obstacle

House Democrats' plan to provide customers with an additional option to encourage union-built vehicles has sparked controversy and discussion among legislators, manufacturers, and other parties. The House Ways and Means Committee last week cleared the tax breaks for consideration in the Democrats' $3.5 trillion budget bill measure, despite vocal objections...
Williams-Sonoma Key Rewards Credit Card Program
Credit

Williams-Sonoma and Capital One Introduce The Key Rewards Credit Card Program

Williams-Sonoma, Inc., a leading American home retail company, revealed that it has partnered with bank holding company Capital One to introduce the Key Rewards Credit Card Program. The company’s top-level Key Rewards program is upgraded with new credit cards. Cardholders can accumulate rewards when they shop at Williams Sonoma, Inc....
Federal Bank Credit Cards In Partnership With Visa
Credit

Federal Bank Introduces Credit Cards In Partnership With Visa

Federal Bank has announced the introduction of its credit card in India. To offer credit cards to its current clients, the private banking company has collaborated with Visa, the worldwide financial services corporation. As per Shyam Srinivasan, Managing Director and CEO of Federal Bank, the issuance of the card would...
Wells Fargo Personal Credit Lines Closure Plan
Credit

Wells Fargo Drops Personal Credit Lines Closure Plan

Wells Fargo & Co. sparked a public outcry when it announced plans to phase down personal lines of credit in July, but the firm will reverse direction on August 18, 2021. Customers who have been using their personal credit lines have just received notice from the San Francisco-based lender...
Universal Credit Human Rights Legislation
Credit

The Reduction in Universal Credit Violates Human Rights Legislation

According to the UN's poverty expert, reducing universal credit by £20 per week is an "unjustifiable" decision that violates human rights law and would certainly lead to an expansion of poverty. The retreat of the £1,000-a-year uplift from next month, according to Olivier De Schutter, the UN-appointed chair of the...
Credit Cards Dark Web Data Leak
Credit

Hackers Leak 1M Credit Cards on the Dark Web

One million stolen credit cards have been posted by hackers on the Dark Web through AllWorld.Cards. The act was reportedly done by cybercriminals in an attempt to promote their activities and operations, as well as make their organization known. The leaked credit card information was discovered by cybersecurity researchers from...
Carter’s Child Tax Credit May Boost Children’s Apparel Business
Credit

Carter’s Says Child Tax Credit May Boost Children’s Apparel Business

Carter’s, an American retailer for children’s apparel, says that with the new child tax credit rolling out across the United States, and as the usual shopping for back-to-school resumes, the company is confident about its opportunities. To meet the consumers’ demand, the company is being compelled to pay extra to...
Younited Credit Yields Million in Fund
Credit

Younited Credit Yields $170 Million in Fund Round

Younited Credit, a France-based company, has secured $170 million in fund round. Consumers in Europe can choose from a variety of credit options offered by the startup. It also employs a multi-distribution method. The funding round, which is led by Goldman Sachs, has participants including existing investors such as Bpifrance,...
Sterling Construction Modifies Credit Agreement
Credit

Sterling Construction Modifies Credit Agreement with BMO Harris Bank

Sterling Construction Company, Inc. has modified its current credit agreement with BMO Harris Bank, its lending group. It has revealed that numerous terms of the agreement are revised. Two of the terms include lowering the existing credit agreement borrowing interest rate by 2% points and reducing the credit agreement's future...