Improve your credit score with this rewards card that comes with 3,500 bonus miles and no annual fee for the first year.
It’s hard to rebuild your credit when you’ve had a rocky financial history. If you’re ready to improve your financial health, a secured card could be a step in the right direction.
| Product Name | AeroMexico Visa® Secured Card |
|---|---|
| Balance Transfer Rate (not intro) | 24.74% variable |
| APR for Purchases ( Purchase Rate ) | 24.74% variable |
| Annual fee | $25 |
| Cash Advance Rate | 25.99% variable |
| Card Type | Visa |
| Interest Free Period The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement. | Up to 24 days |
| Returned Payment Fee | $35 |
| Minimum Interest | $2 |
| Minimum Credit Score | Poor (Below 660) |
|---|---|
| Minimum Age | 18 years of age |
| Min credit limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $300 |
| Max credit limit This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account. | $5,000 |
| Annual fee | $25 |
|---|---|
| Returned Payment Fee | $35 |
| Late Payment Fee | $38 |
| Cash Advance Fee | 4% of the amount of each advance or $5 minimum, whichever is greater |
The AeroMexico Visa is a secured card that reports to all three major credit bureaus, helping you to build your credit with on-time payments and responsible spending.
This Visa comes with no annual fee for the first year and 3,500 bonus miles after your first swipe. Because this is a secured card, you are required to put down a minimum deposit of $300, which then becomes your line of credit.
Is the AeroMexico Visa Secured Card for me?
Unlike debit or prepaid cards, the AeroMexico Visa Secured Card comes with a rewards program and reports to the three major credit bureaus, helping you to rebuild your credit.
- $25 intro annual fee. Enjoy a year with no annual fee and then pay a low $25 thereafter.
- Rewards program. Earn 2x miles for purchases on gas, groceries, AeroMexico airfare and vacation packages, and 1x miles on everyday spending.
- Graduate to an unsecured card. After 12 months of on-time payments, you may qualify for an unsecured credit card.
- Signup bonus. Get 3,500 bonus miles after you use the card for the first time plus a free round-trip companion ticket for travel from the US to Mexico.
- Travel bonuses. You won’t pay anything to check your bags. And after a year of use, you’re eligible for a $99 companion ticket on an AeroMexico flight.
If you travel, you’ll also love:
- Car rental insurance. With an AeroMexico Visa Secured Card, you’re covered for collision damage or theft on auto rentals.
- Travel insurance. You’ll receive free travel insurance coverage when you charge tickets for travel on an airline, train, ship or bus.
What to watch out for
By using your AeroMexico Visa Secured Card responsibly, you can build your credit to meet your financial goals. But before you apply, consider the drawbacks below.
- Plenty of fees. You’ll pay extra for cash advances, additional cards, foreign transactions and late payments.
- Required security deposit. Requires a minimum of $300, which then becomes your line of credit.
- No intro APR. Once approved, a high 24.74% variable applies to your purchases.
How to apply for AeroMexico Visa Secured card
Always consider your options and your financial situation before you apply for a credit card.
Before you can apply for an Aeromexico Visa Secured Card, you’ll need to open a U.S. Bank checking or savings account with at least $300.
To be approved for an AeroMexico Visa Secured Card, you must be at least 18 years old, a US citizen or permanent resident and be able to provide a valid Social Security number or tax ID number. You’ll also need to provide:
- Your employment status.
- Your monthly income.
- Your monthly housing expense.
1. Go to the AeroMexico Visa Secured Card on the U.S Bank website and click Apply Now.
2. Provide your personal contact, housing, income and employment information. Indicate whether you need additional cards.
3. Finally, choose your deposit amount and decide how you will send the money, either by money order or cashier’s check. Supply your tax ID number, if applicable, and review and accept the card’s terms and conditions.
If you’re approved, you’ll be sent your secured card with a credit line that reflects your deposit. Your deposit will be used to open a U.S. Bank Secured Savings Account, which will earn interest over time and won’t be touched as long as your account is not in arrears.
I got the card. Now what?
You’re on your way to rebuilding your overall credit history and financial health. Just keep in mind a few tips to successfully manage your spending.
- Manage your account online. Set up an online account to monitor your spending.
- Avoid unnecessary interest. After the close of each billing cycle, you have a grace period of 24 days to pay your balance. If you do, you won’t pay interest on your purchases.
- Avoid fees. Returned payments come with fees of $38, so consider signing up for autopay for payments ahead of your due date.
- Customer service. For support, call 866-749-2136 or log in to your online account to send a secure email.
What customers are saying about the AeroMexico Secured Visa
| Comparison site | Rating | Type of review: Editor or number of votes/reviews |
|---|---|---|
| NerdWallet | 1 star | 1 review |
| WalletHub | 3 stars | 118 reviews |
| ValuePenguin | 3.4 stars, 70% | Review by Robert Harrow |
| Credit Karma | 4 stars | 23 votes |
Bottom line
If you frequently fly with AeroMexico, this secured card could help you build or rebuild your credit while earning valuable miles toward future travel.
To learn more about secured card options that could better fit your spending and lifestyle, see our picks for best secured credit cards of 2017.
