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For those who’ve recently served as members of the Armed Forces to civilians simply weighing their personal banking options, the Armed Forces Bank caters to customers from all walks of life.
Learn more about its Credit Builder Secured Visa® Credit Card that can help you build your credit with regular reporting to the three main credit bureaus and the opportunity to graduate to an unsecured option.
$0
Annual fee
25.99%
Purchase APR (variable)
300
Recommended credit score
Review by
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
The Credit Builder Secured Visa® Credit Card is a flexible, affordable way to build or rebuild your credit with the convenience of swiping for everyday purchases. It comes with adjustable credit limits, custom payment dates and automatic reporting to all three major credit bureaus — you could be on your way to positive credit in no time.
As secured cards go, the Credit Builder Secured Visa® Credit Card is about as bare bones as it gets. You won’t find rewards, signup bonuses or flashy features — but the fee schedule reflects that.
Add in a low annual fee, and this card’s a solid option for veterans and civilians alike. And with on-time payments, you might be eligible to graduate to an unsecured card with the bank.
Get started with applying through Armed Forces Bank’s straightforward site.
This card doesn’t require a minimum credit score, so approval is likely. Approvals typically take four to five business days, then it could be another two weeks before you receive your card. However, you can pay an $35 for expedited processing and delivery.
Now that you’re approved, it’s time to take advantage of your card.
Here’s how to get the most out of your new Secured Visa with First National Bank:
If this card isn’t right for you, compare other secured credit cards on the market. Consider factors such as fees and how well the card can help you build credit.
Curiously, First National Bank isn’t rated on Trustpilot. But the bank is accredited by the Better Business Bureau (BBB) since 2014 with an A+ rating.
Despite the great rating, you’ll find a handful of reviews and complaints with BBB. Most reviews report issues with undisclosed fees and frustrations in reversing them. Others mention trouble communicating with customer service agents and overly complicated interactions.
Reviews on other sites talk about extra charges, even in instances where accounts were supposed to have closed months ago. Despite frustrations, many users report positive experiences with customer service and praise the bank for helpful and friendly service.
The Credit Builder Secured Visa® Credit Card is a solid option for those looking to build a positive credit history on a limited budget. Despite its $0 annual fee, the card offers low fees and a surprisingly low APR, if you open an associated bank account. Flexible credit limits, custom payment dates and no transaction fees make it an everyday card that can help build your credit. And if you play your cards right, you just might graduate to an unsecured card.