This review is for the City County Credit Union of Fort Lauderdale Visa Secured Credit Card. One of four cards that are offered by the City County Credit Union of Fort Lauderdale (CCCUFL), it is the only secured card available. A secured card is different from a traditional credit card in that you do not borrow from the credit card company; rather you send in an initial deposit and borrow from there.
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City County Credit Union of Fort Lauderdale Visa Secured Credit Card Details
The CCCUFL Visa Secured Credit Card offers an annual percentage rate of 18.9%. There is a 25-day grace period for the card, and the minimum amount of interest that can be charged each month is $1.50.
There is a $50 annual fee for the card, and that amount is charged to your account at the anniversary of when your account was opened. There are various fees for the card for missing payments, late payments and going over your credit limit that range from $5 to $35.
City County Credit Union of Fort Lauderdale Visa Secured Credit Card Benefits
There are very few benefits available to cardholders of the CCCUFL Visa Secured Card. While you do have the ability to make payments from your checking or savings account, remember that the money you are borrowing is actually yours. Therefore, the annual fee, annual percentage rate and any interest or fees charged are in fact, you paying the credit card company to hold your money.
This is something that is normal when you have a secured card and often if you want to rebuild your credit, this is the only choice you have. However, be sure to look into all options and weigh the pros and cons before sending your initial deposit in.
The City County Credit Union of Fort Lauderdale Visa Secured Credit Card does offer up to $250,000 in insurance while traveling, and is accepted in the millions of places Visa is taken all over the world.
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