US Bank Secured Visa Card Review

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US Bank Secure Visa Full Review


Advantages
  • Security deposit placed in an interest-bearing account

  • Maximum line of credit of $ 5,000

  • Free credit score

The inconvenients
  • No rewards program

  • Line of credit linked directly to the security deposit


Benefits explained

  • Security deposit placed in an interest-bearing account: Security deposits for US Bank Secured Visa are deposited into an interest-bearing account at US Bank and will receive a return as long as your credit card is open. It is important to note that this money is kept as a security deposit and is not used for payments. You get your security deposit back after your account is closed, as long as there are no unresolved charges.
  • Maximum line of credit of $ 5,000: The US Bank Secured Visa has a relatively high maximum line of credit of $ 5,000 for a secured credit card. But you will need to make a security deposit of $ 5,000 to get this matching line of credit.
  • Free credit score: The US Bank Secured Visa comes with free access to your TransUnion credit score. This benefit can help cardholders track their progress as they build or establish credit.


Disadvantages Explained

  • No rewards program: Although you can replenish your credit with this card, you will not earn any rewards in the process. The Discover it Secured card, on the other hand, offers cash back and has no annual fee.
  • Line of credit linked directly to the security deposit: Your line of credit for the US Bank Secured Visa is directly linked to the amount you pay for the security deposit. While this is not unusual, there are secured credit cards that do not require a dollar-for-dollar security deposit to establish the line of credit. For example, the Capital One Secured Mastercard allows qualified applicants to establish a line of credit of $ 200 with a security deposit of $ 49, or obtain up to $ 1,000 in the form of a line of credit with a $ 200 deposit over time, with responsible use.


The US Bank Secured Visa card will likely work well for someone who wants a higher line of credit while they work to build credit. If you have a large amount of cash that you can use as a security deposit, you can get a much higher line of credit than you would typically get with other secured cards.

Plus, tools like auto-pay and access to your TransUnion credit score will help keep you on track.

This card can also be attractive to those who could not qualify for an unsecured card. However, if you are hoping to earn rewards while accumulating credit, the Discover it Secured card might be a better choice.


Exceptional advantages of the Visa card secured by the American bank

  • Secondary Car Rental Collision Insurance


Standard benefits

  • Free credit score
  • Extended warranty protection

Cardholder experience

The US bank is ranked 10th out of 11 issuers in the 2021 JD Power Credit Card Satisfaction Survey. The bank received a score of 782 out of 1,000, while the national average for all credit card issuers was 809.

US Bank Secured Visa mobile app offers 24/7 account access and receives 4.5 out of 5 stars on Google Play for Android systems and 4.8 out of 5 stars in Apple App Store . You can also contact customer service by sending an email through your account or calling 800-285-8585.


Security functions

This card has fraud detection. US Bank will alert you to unusual card activity and you will not be responsible for fraudulent purchases.

You will also have free access to your TransUnion credit score.


Our verdict

If you can’t get approved for an unsecured credit card, a secured credit card can help you build or build your credit. The US Bank Secured Visa is a fairly basic card. If you have the ability to fund a large deposit, you can establish a higher line of credit than is typically available with a secured card. As a bonus, your security deposit will be kept in an interest-bearing account.

However, there are other options. The Capital One Secured Mastercard allows you to have a line of credit greater than your deposit and the Discover it Secured card offers a cash back program.


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