A secured credit card such as the Visa Secured Credit Card from Arizona Central Credit Union, is not for everyone. Secured cards are best for people with very bad credit who cannot get an unsecured card and for people who don’t have any credit at all and need to establish some credit. This card is different from many other secured cards, mainly because there are so few fees for the people who get this card.
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Another way that this card is different from other secured credit cards is that you can use it for balance transfers so that you can take advantage of the lower interest rates that this credit card offers. Everything about this card is also in compliance with the Federal Reserve credit card rules that became effective in February of 2010.
Arizona Central Credit Union Visa Secured Card Overview
There is no information on the Arizona Central Credit Union website about how much money you have to deposit into an account to get a secured credit card. In addition, they do not say what the maximum amount you are allowed to secure is either.
Most banks have a minimum and a maximum amount in place. However, these amounts can range from a low of $250 to a high of $10,000.
As mentioned above, this card is a bit different from other secured credit cards. For example, you don’t have to pay an account fee or a monthly maintenance fee for this account. In fact, other than the fact that you have to open an account that you cannot access outside of making deposits, this secured card is just like any other credit card.
Arizona Central Credit Union Visa Secured Card Terms
The terms for this card include a low 13.99% annual percentage rate. What’s interesting is that, unlike many other credit cards, this is a fixed rate rather than a variable rate. This means that if the Prime Rate were to change, then your interest rate with Arizona Central would not change!
There is no fee for balance transfers, cash advances, or ATM use. You have zero fraud liability with this card just as you would with any other credit card as well. You also qualify for free car rental insurance and travel accident insurance if you use your card to pay for your purchases.
Arizona Central Credit Union Visa Secured Card Verdict
This card offers some of the best benefits that you will find for a secured card. It is a bad credit credit card with a low interest rate that reports to all of the credit reporting agencies. As long as you are a member of Arizona Central Credit Union, you cannot be turned down for this card if you have the appropriate amount of money for your card deposit.
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