Tag Archives: no annual fee secured credit card



American Savings Bank Student Secured Visa Card Review

October 23, 2011   KID   No comments

The American Savings Bank Student Secured Visa Card is a unique secured credit card offered by the American Savings Bank specially designed for full-time undergraduate or graduate students who are at least 18 years old. The card offers many benefits that are even rare to a traditional credit card. So if you are a student who are on your way to building your credit, you might consider applying for this card.

if your have American Savings Bank Student Secured Visa Card.you won’t need to carry a lot of money,or dip into personal savings for extra expenses. It’s just like a regular Visa card, except that your line of credit is secured by funds held in a Statement Savings account at American Savings Bank.

The following are some of the major features of this card:

It is accepted worldwide wherever you can see a Visa logo for purchases or cash advances.

No annual fee.it’s a wonderful benefit.all most secured credit card have $19-$99 annual fee.

It offers a fixed interest rate even though the exact APR rate and other interest rates are not published online yet. If you are interested, you may call the American Savings Bank customer service department to get a current list of rates.

Security deposit: The security deposit must be 10% more than the credit limit considering that the majority of the cardholders are college students who are not totally financially independent. For example, if you want your credit line to be $1000, you must put down $1,100 for security’s sake.

Unlike other secured credit cards which are stingy about rewards, the American Savings Bank Student Secured Visa Card bear a lot of benefits, including gift certificates, travel packages and a car rental insurance up to $200,000.

In addition,students will receive free access to the online credit card account, free e-statements, 0 liablility for unauthorized purchases.

Other Benefit

Fixed interest rate

Monthly Payments

Flexible payment schedule: pay minimum due, statement balance, current balance or other amount

May be made automatically as one-time or recurring payment through online banking

Visa’s Zero Liability policy on unauthorized transactions3

Up to $200,000 Travel Accident Insurance

Auto Rental Collision Damage Waiver at no additional cost

overview 

With no annual fee and a generous reward program secured, the American Savings Bank Student Secured Visa Card is quite a catch for students who want to take their own financial behaviors under control.

Read More
Posted in: All Secured Credit Cards, American Savings Bank   Tags: ,

Applied Bank Platinum Zero Secured Visa Credit Card Review

October 13, 2011   KID   1 Comment

Applied Bank Platinum Zero Secured Visa Credit CardApplied Bank has been in business since 1996 and they specialize in providing credit cards, either secured or unsecured
The Applied Bank Platinum Zero Secured Visa Credit Card, as is implied by the name, is a secured credit card issued by the Applied Bank for people with bad credit or no credit history. With no annual fee and a low fixed APR, it might be an ideal choice for people in need except that it charges a skyrocketing maintenance fee of $9.95 every month.

No annual fee.Credit cards with no annual fee imply no charge for annual servicing of your account.

High monthly maintenance fee. Although the bank claims that it does not charge any annual fee, it eats up your money by imposing a high monthly fee of $9.99, which equals to $119.4 per year. However, you must know that even if you do not have to pay such a high fee with other cards, they do charge you heavily on additional fees like transaction fees and deposit fees to compensate for that.

You will be charged a penalty fee of $32 if you fail to pay off your balance.

They will reporte to all (3) bureau’s even though they do not say they report to all three.

Online Banking. you can Pay your bill check your balance online.

Fees for cash advance: 9.99% of the amount. If you done’t repay the money you have withdrawed at full amount, you will have to pay an interest rate of 9.99%. This is not a popular feature since you have to pay interest for withdrawing your own money. However, comparatively speaking, the fee is reasonable among a large number of cards, secured or unsecured, that have a cash asvance fee.

Fixed 0% APR on purchases
This is one of the best features of this card. A fixed 0% APR on purchases any time you use the card to buy things, not just within the introductory period.The interest rate won’t change even if you can not make on-time payments. It is the most attractive feature for people who like to buy first stuff and then pay it off over time.

Credit limit: You can choose a credit line between $500 and $5,000. but first you need to open an account at the Applied Bank and put in a certain amount of money as security deposit which is equal to your limit. Don’t expect to get any interest for your deposit and you account can fall below $100. Since the Applied Bank is FDIC insured, even if it fails or declares bankruptcy, you can still get back the money that you put as a deposit as that is insured by the US government.

The Applied Bank Platinum Zero Secured Visa Credit Card bears other benefits like free theft protection(but the money in your account has to be over $500), 0 fraud liablity and regular report to credit rating agencies, which you will find extemely helpful if you are trying to restablish your credit.

Read More
Posted in: All Secured Credit Cards, Best Secured Credit Cards   Tags: , ,

Navy Federal Credit Union nRewards Secured Card review

October 04, 2011   KID   No comments

The Navy Federal Credit Union nRewards Secured Card is probably one of the best secured credit cards you can find. It comes with generous rewards which can only be found on unsecured credit cards.

There is no annual fee and the interest rate is relatively low. The only requirement is that you have to be a member of the Navy Federal Credit Union. It is not as difficult as you think to join the union. If you happen to have a family who works or worked for the armed forces, but you must first be eligible to join this large credit union. It might not be as hard as you think.

If you can join Navy Federal Credit Union,this is one of best secured credit card.
Navy Federal Credit Union membership is open to uniformed personnel in all branches of the armed forces – not just the Navy – plus the National Guard, retirees, civilians who work at Department of Defense installations, as well as their family members. So, if your grandfather was in the service, he can join if he’s not already a member, and you can too.

Who the card is for?
People who are members of the Navy Federal Credit Union and do not have a sound credit history.

Fees
No annual fee.

Balance transfer fee: None.
Late payment and returned payment fee: up to $20.

APRs
8.99% to 18% on purchases. You are sugguested to use this card to carry a balance considering that there’s no annual fee and balance transfer fee, and the APR is low.

Rewards
Earn 0.5% to a full 1% cash back for purchases depending on how much you spend. You get one point for every dollar you spent with this card. For example, if you spend $1000, you will get 5 points(0.5%) in return. When your spending reaches a high $7500, the cash back you can earn is as much as $75(1%). The cash back is redeemable for giftcards and certificates on your account. Points expire after 4 years and there is no limit on how many ponits you can earn.
Reward examples:

2,000 points for $10 gift card from Starbucks or Applebee’s
3,500 points for $25 gift card from Best Buy or iTunes Music Store
7,500 points for $75 Gap® or Navy Federal Visa Awards Card

Anyway, The Navy Federal Credit Union nRewards Secured Card is an excellent secured credit card that you will regret for missing it for there is no annual fee, balance transfer fee or whatever fee imposed on it which is quite common on other secured cards. And it offers a generous reward. With this card, you are actually enjoying privileges only reserved to people with excellent credit.

In my opinion

Unbelieveable this card is. The very thought of loosing it is the worst experience in life anybody could ever have. I mean it would be a nightmare through life without the power this card posses and the gift of a lifetime opprotunity.

 

Read More
Posted in: All Secured Credit Cards, Best Secured Credit Cards, Navy Federal   Tags: , ,

Orchard Bank Secured MasterCard Review

September 30, 2011   KID   2 Comments

Orchard Bank Secured MasterCardIf  your credit is terrible or no ,the Orchard Bank Secured MasterCard is the one of the best secured credit cards you can get.Not only the low internet rate noly 7.9%, but also unlimited credit line.it’s equal to whatever amount you deposit .

Like other secured credit cards, The Orchard Bank Secured MasterCard has brought good news to people who can not get themselves an unsecured credit card due to poor credit history and have to work for good credits.

Pros

Low interest rate. A 7.9% APR for all purchases and balance transfers. Since almost all secured credit cards charge a certain amount for purchases and other things done with the card, the rate this card offers is comparatively low.

No processing fee. It doesn’t take you anything to apply for this card and enjoy its benefits.

No annual fee for the first year, then $35 is required for each year. The $35 annual fee is very reasonable considering the fact that other Orchard cards charge you from $35 to $74(a bottom line) per year while the major previlege they offer is pretty much the same.

Cons

High penalty fee. You will lose 29.49% worth of your bill if you fail to pay for it before due date and at full amount.

A minimum of $200 of security deposit is required, which is the norm for almost all secured credit cards. Your credit line is equal to the money you put in. It seems discouraging since it is like opening a bank account and shopping with the money you put in beforehand. But remember your purpose is to build up your credit so that you can enjoy more benefits in the future. It is crucial that you make payments on time for you may lose all youe security deposit plus a minus in your credit.

5% of balance transfer fee. This card is ideal for people who are new to the country and thus have no credit history, and it is easier for them to advance to an unsecured card. But if you have a bad credit and decide to apply for this card, bear in mind that you make your payment on time. It is unadvisable to increase your credit line for the APR increases as well and it is going to cost you a fortune.

Deposit APR Credit Line Annual Fee Pros
Minimum of $200 7.9% (V) Depend on your deposit First year waived.After $35 Low interest rate.
No processing fee.
Reports three major credit bureaus.
Read More
Posted in: All Secured Credit Cards, Best Secured Credit Cards, Orchard Bank   Tags: , ,