Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Bremer Bank Visa® Secured Card review

Last updated:  

Rebuild your credit with this card that has flexible limits and a handful of security features.

$35

Annual fee

20.99%

Purchase APR (variable)

300

Recommended credit score

Details

Product NameBremer Bank Visa® Secured Card
Card typeVisa
Annual fee$35
Purchase APR20.99% variable
Balance transfer APR20.99% variable
Balance transfer fee$5 or 3% of the transaction, whichever is greater
Cash advance rate23.99% variable
Cash advance fee$10 or 4% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Interest free periodUp to 24 days
Late payment feeUp to $40
Returned payment feeUp to $35
Additional cardholder fee$0

Expert review

Megan Horner

Review by


Megan Horner is the credit cards publisher at Finder. She's passionate about helping you find the best credit cards to meet your financial needs — whether that's earning great rewards or improving your credit score. Megan's expertise has been spotlighted on Lifehacker, CreditCards.com, American Banker and featured on news broadcasts across the country.

Expert review

The Bremer Bank Visa® Secured Card is a great starter card for anyone with limited or poor credit. Its low annual fee, variable APR and customizable credit limits provide a flexible path towards a positive credit history. And you get free credit checks so you can watch your credit score grow over time.

While the APR, annual and foreign transaction fee are higher than most secured cards, approval is easy and could help if you only spend what you can afford and pay off your balance monthly. You can even get an extra card for free to share with your family.

How to apply for the Bremer Bank Visa® Secured Card

Applying for the Bremer Bank Visa® Secured Card is easy and approval rates are high. To make your initial deposit you’ll need to open a savings account with Bremer Bank. Complete your application online or by mail. Here’s how:

  1. You must be at least 18 years old, and a US citizen with a Social Security number to apply.
  2. Visit the credit card page on Bremer Bank’s site and select Build your credit on the drop down menu. Click Apply Now.
  3. Proceed to the external website, then scroll down to find the Secured Visa Card. Click Apply Now.
  4. Select your application method: Online or print and mail, and click Get Started.
  5. Complete the application form with your personal info, housing, income and employment. Fill out the additional cards section to add an authorized user. Accept the terms and conditions and hit Accept.
  6. If you applied online, your application is automatically submitted. For mail-in applications, print your application and get a cashier’s check or money order with your preferred deposit amount. Mail your application and check to:

    Elan Financial Services
    PO Box 6363
    Fargo, ND 58125-6363

How likely is my approval?

Since this card is made for beginners or anyone rebuilding credit, it’s likely you’ll be approved.

How long will it take to be approved?

Approval usually takes between two to 10 business days.

What’s great about this card?

The card has high approval rates and flexible credit limits, making it a viable option if you have limited or poor credit. Chose a credit limit between $300 and $5,000 with the option of raising your limit when you’re ready. The card also comes with an arsenal of security features, from extended warranties and zero fraud liability to the the extra layer of protection from its Verified by Visa program.

How to make this card worth it

Like most secured cards, this card was designed for those with limited or poor credit. When you apply for the card, pay your deposit to set up a credit limit that works for your financial situation. Stay on top of your monthly payments and maintain the lowest balance possible to avoid fees or interest charges. Avoid balance transfers, cash advances and foreign transactions because you’ll pay a lot in fees.

What to watch out for

Thanks to the Consumer Financial Protection Bureau’s Credit Card Accountability, Responsibility and Disclosure act, most of the terms and fees are laid out plain and simple. However, if you plan on using this card every day, here are a few drawbacks:

  • High APR. This card has a high 20.99% variable APR.
  • Fees. You’ll pay a $35 annual fee, foreign transaction fee and balance transfer fee.
  • No signup bonus or rewards program. Some secured cards offer a rewards program or signup bonus, but not this one.

Compare secured credit cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
Self Visa® Credit Card
Starting at $100
21.74% variable
$25
300
Build your credit with a low minimum security deposit of $100 and no credit score required.
OpenSky® Secured Visa® Credit Card
Starting at $200
17.39% variable
$35
300
Apply for this card with no credit check if you're new to credit or have bad credit.
Assent Platinum 0% Intro Rate Mastercard® Secured Credit Card
Starting at $200
0% intro for the first 6 months (then 12.99% variable)
$49
300
A rare secured card with a 0% intro APR on purchases for 6 months, followed by 12.99% variable.
First Progress Platinum Select MasterCard® Secured Credit Card
Starting at $200
13.99% variable
$39
300
No minimum credit score and no credit history required.
CardMatch™ from creditcards.com
See terms
See issuer's website
See terms
300
Use the CardMatch tool to find cards you're likely to qualify for with your credit score, without a hard pull on your credit.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Starting at $200
9.99% fixed
$48
300
No credit check is required for this secured card. Make a deposit of at least $200 to open this card and get a low 9.99% fixed APR on purchases.
First Progress Platinum Prestige Mastercard® Secured Credit Card
Starting at $200
9.99% variable
$49
300
Build or rebuild your credit with this secured card.
First Progress Platinum Elite MasterCard® Secured Credit Card
Starting at $200
19.99% variable
$29
300
Build your credit with all three major credit bureaus.
PCB Secured Visa®
PCB Secured Visa®
Starting at $200
18.9% fixed
$39
300
Choose your initial deposit amount and credit limit from $200 to $1000
loading

Compare up to 4 providers

I got the card. Now what?

Once you’re approved, it’s time to start using your card. Here’s how to take advantage of your new Savings Secured Visa Platinum card:

  • Activate your card. Once it arrives, activate your card through an existing online banking account or by phone.
  • Make timely payments. Mail in your payment or pay through your online account. Avoid interest on your purchases by paying your balance in full.
  • Set up autopay. Avoid unnecessary fees and interest by setting up automatic withdrawals for your monthly payments.
  • Customer service. Support is available by phone or secure email through your online account.

What do customers say?

Bremer Bank is not rated on TrustPilot, but they have been BBB-accredited since 2012, boasting a superb A+ rating. Customer complaints on the BBB website range from trouble accessing the online service to a lack of communication, while others mention undisclosed fees and trouble having them removed.

Elsewhere, Bremer Bank seems to have a positive reputation among its customers. Users from various forums praise the bank for exceptional customer service and modern business tactics — from customers who have had their accounts for over ten years.

Bottom line

For building your credit, Bremer Bank Visa® Secured Card is just OK. While approval rates are high, there are plenty of other secured cards with lower fees and better benefits that are easy to qualify for. However, if you can’t get approved for other cards, the Bremer Bank Visa® Secured Card might be a good option to help you improve your credit before you move on to a better card.

Frequently asked questions

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site