Category Archives: Us Bank



SKYPASS Visa Secured Credit Card Review

April 10, 2012   KID

It is very difficult to find a rewards secured credit cards, now the us bank offer the SKYPASS Visa Secured Card .with this card you can earn 5000 miles after first purchase and 1 mile per dollar every purchase .with this card you can building credit and earn miles reward.If you frequently travel on Korean Air and SkyTeam partners this secured credit card is best for you .

other cash back secured reward credit card :Navy Federal Credit Union nRewards Secured Card review

Rewards system of this card

5 000 SKYPASS Bonus Miles after your first purchase1

1 mile for every $1 you spend

Credit limit based on your deposit, from $300 to $5,000

1,000 Bonus Miles at renewal

$ 250,000 in Travel Accident Insurance

other benefits of this card

Redeem miles for free travel and free upgrades on Korean Air and SkyTeam partners

SKYPASS Visa miles can be combined with your SKYPASS flight miles

Earn SKYPASS miles and enjoy travel rewards with the SKYPASS Visa card builds your credit

No limit of miles reward

SKYPASS Visa card purchases help you reach and maintain Morning Calm Club Membership5

SKYPASS Secured Credit Card can use at millions of locations worldwide

Cash access at more than one million ATMs

Auto rental insurance

24-hour account access

Bilingual customer service available

Online purchase security

Earn SKYPASS miles even faster when you take advantage of Automatic Bill Payment

Get your monthly credit score – free bill every month

Lost and stolen card reporting
About the credit line
if you apply this secured credit card , after the company approv you they will give you a credit card. the credit line is equal the amount as your deposit. the credit line from $300 to $5,000. It looks and works just like any other credit card when you use it at a restaurant or store.

Your deposit is used to open a savings account which assures your credit card can be paid. The money in your savings account is there to “secure” your credit line. The money in your savings account is FDIC insured and won’t be touched as long as you make all of your credit card payments on time and your account remains open. Plus, you will earn interest on the money in your savings account.

The apr 

16.24%, This is just not high, We believe it’s kind of unfair to be charged this kind of high APR for secured cards given that the financial institution is taken no recourse  you must allow them to have collateral, an amount comparable to all of your personal credit line, up front! However, here is the nature of the card offers, and when you can’t manage to pay off balance every month you probably shouldn’t receive a secured card on the pre-paid debit card initially, since you had the ability to turn out damaging your credit as an alternative to rebuilding it.

Cons
compare with other secured credit card , the $50 annual fee is high . other cards only need $19 – $40 annual fee .

compare with other us bank secured credit card : us bank secured credit card 

US Bank Secured Card

September 26, 2011   KID

The U.S Bank Secured Visa CardThe U.S Bank Secured Visa Card is a credit card issued by the U.S Bank specially designed for people with a poor credit history who are trying to rebuild their credit worthiness. If you manage to present a good credit behavior, the U.S Bank promises to promote you to an unsecured credit card in a year.

Who this card are suitable for?
People with a poor credit below 620.

Pros

It provides the quickest advancing time for secured cardholders for unsecured cards. (whithin a year), which is a good advantage that you can take full use of if you are bothers with your low credit scores.

Low annual fee. $35 a year is pretty low end compared to other secured credit card.

The bank also promises an interest earned for the deposit you have to put in.

Well online service
you can view current statements, download account history, check your balance, make a payment from your U.S. Bank Checking or Savings account, get a cash advance and much more.

Cons

High interest rate. You can avoid the high interest rates by paying due amount on time.

Full secured deposti required. You can set your credit limit between $300 and $5000, but you need to put in $5000 as your secured deposit at first.Your credit line will be the same amount as your deposit. It looks and works just like any other credit card when you use it at a restaurant or store.

It is not available in all states. The card is only available in states west of Missisippi and a few states east of it.

Car Rental Discounts – you can get discount with top Car Rental companies like Avis, Alamo, Hertz and National.

APR
20.99 percent on purchases and balance transfers; 23.99 percent on cash advances.

Fees
Annual fee: $35.
Late payment fee: $19-$39.
Returned payment fee: $39.

Transaction Fees
Balance Transfer Either $5 or 4% of the amount of each transfer, whichever is greater.
Convenience Check Cash Advance Cash Advance Either $5 or 3% of the advance amount, whichever is greater.
Cash Advance ATM Either $10 or 4% of the advance amount, whichever is greater.
Cash Advance Either $10 or 4% of the advance amount, whichever is greater.
Cash Equivalent Advance Either $20 or 4% of the advance amount, whichever is greater.
Foreign Transaction 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars
3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency

How to avoid interest

when you pay your bill before 24 – 30 days after the close of each billing cycle, you will don’t need charge you interest on purchases

cash Rewards:None