The Metro Credit Union Visa Secured credit card comes with a fairly large credit limit and only an annual fee is applicable. You can conveniently use your Metro CU Visa Secured card to take out credit card cash advances at participating ATMs for a nominal fee. The interest rate on this secured credit card is locked in at 15.9%.
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According to the Federal Reserve, new secured credit cardholders are sometimes required to pay an account origination charge. Metro Credit Union does not charge its secured credit card accountholders any initial fees. Metro Credit Union Visa Secured credit card applications can be processed in person, via phone, and online.
Metro Credit Union Visa Secured Credit Card Fees
Besides the annual credit card fee of $59, the Metro CU Visa Secured card also has a monthly minimum finance charge that must be paid, regardless of the balance amount. Cardholders that want to make their monthly payments over the phone are subject to a $5 processing charge. Late fees only become applicable after a Metro Credit Union Visa Secured account is more than 16 days delinquent. The most that can be charge for late fees is $10.
Payments not able to be processed by Metro Credit Union cost cardholders a $25 returned payment fee. Replacement credit cards are $10. The standard APR converts to an 18% penalty interest rate when one or more payments are not received on time.
Metro Credit Union Visa Secured Credit Card Options
There are not ways in which cardholders can customize their credit cards or select their own features, but Metro Credit Union does issue credit lines of up to $10,000.
With the penalty interest rate being 18%, accountholders will not pay much more in interest fees than the regular 15.9% rate if they ever fail to make a timely payment.
Cardholders do not pay a higher interest rate for cash advances, which means that they only pay $.95 in charges for every ATM withdrawal. Customers can order replacement credit cards in emergencies for a small charge, and they won’t be responsible for paying the fee until the grace period expires.
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