According to the Federal Trade Commission, and its credit facts for consumers, one of the best ways to establish credit is to use a secured credit card. There are many credit unions, banks, and credit card companies that offer secured credit cards. One offer from a credit union is the Vons Employee Credit Union Share Secured Visa credit card.
Look through more secured credit cards for FREE by utilizing the tool above!
This credit card was once called a platinum credit card. However, Vons has removed the designation from all of its credit cards, instead choosing to call them by their type. In this case, this credit card is simply called the Share Secured Visa credit card.
Vons Employee Credit Union – How to Qualify
As long as you can open a savings account with Vons Employee Credit Union, then you can get this Share Secured Visa.
In order to open a savings account for this purpose, you first must meet the membership requirements.
Then you must have a savings account balance of $250 or more.
There is a $10,000 limit for your credit line for the Share Secured Visa. In addition, Vons will continually check your credit every six months and let you know when you qualify for an unsecured credit card with the credit union.
Vons Employee Credit Union – Terms
Because this Visa is a secured credit card, Vons will report all your card usage to the major credit bureaus. As such, you’ll be held under the same requirements that you would for any kind of credit card. This means making a monthly payment (in this case, it’s 2% of your daily balance or $15, whichever is greater), as well as paying interest on your purchases.
The APR for the Share Secured Visa is 10.9%. This rate is fixed and is not dependent upon your credit score–it will be 10.9% no matter who you are. There may be exceptions to this; however, Vons will have to let you know in writing if for some reason you don’t qualify for the 10.9% APR.
Vons Employee Credit Union Share Secured Visa Credit Card – Verdict
The terms for the Share Secured Visa are relatively good, with a great starting interest rate. There is no annual fee, no ATM fee, and no balance transfer fee, making this an excellent low-fee, low-interest rate credit card.
Use this FREE credit card chaser tool right now!
- Vons Employee Credit Union Visa Platinum Premium Credit Card
- Vons Employee Credit Union Visa Platinum Plus
- Vons Employee Credit Union Visa Platinum New Start Credit Card
- Community First Credit Union of Florida Shared Secured Visa Credit Card
- SchoolsFirst Federal Credit Union Visa Share-Secured Credit Card
- Educators Credit Union Visa Pledge Credit Card
- Langley Federal Credit Union Share-Secured Credit Card