According to the Your Money section of The New York Times, the best way to rebuild your credit is to get a secured credit card. One such credit card that you might want to consider is the First Financial Federal Credit Union of Maryland Visa Secured credit card.
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A secured credit card is a credit card that requires you to secure your credit card balance with a deposit into a savings account. Although the First Financial FCU doesn’t reveal what the minimum allowances for one of their secured credit cards, it is likely in the $250 to the $500 range.
FFFCU of Maryland Visa Secured Credit Card Overview
As with all of the credit cards offered by the First Financial FCU, this credit card is an affinity card. A small percentage of every purchase total that you make will be donated to the Kids First Fund, which was founded by the First Financial FCU.
This credit card offers you a credit limit equivalent to the deposit you make into your First Financial account. The money in your account cannot be removed; if it is, then the bank can cancel your credit card at that time.
This credit card will be treated like a regular credit card on your credit report. You will make monthly payments based on your spending and over time, this credit card will benefit your credit score more and more.
First Financial FCU of Maryland Visa Secured Credit Card Terms.
As with all of the First Financial FCU credit cards, the majority of the terms are not available to nonmembers. This credit card has no credit card annual fee, and the APR is 15.9%. You do have to be a member of this credit union in order to apply or qualify for this card.
First Financial Federal Credit Union of Maryland Visa Secured Credit Card Verdict
Although, this credit card is not a bad option, there are actually many credit unions that offer lower interest rates for their secured cards. If you are looking for a credit union to provide you with your secured credit card, you definitely want to compare rates and terms.
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- First Financial Federal Credit Union of Maryland Visa Gold Credit Card
- First Financial Federal Credit Union of Maryland Visa Classic Credit Card
- First Financial Federal Credit Union of Maryland Visa First Start Credit Card
- First Financial Federal Credit Union of Maryland Visa Preferred Credit Card
- First Financial Federal Credit Union of Maryland Business Visa Credit Card
- GTE Federal Credit Union Visa Secured Credit Card
- Hanscom Federal Credit Union Visa Platinum Secured Credit Card