A secured card to rebuild your credit with no annual fee.
It’s hard to build credit if you have poor or no credit. APRs on loans and credit cards can be sky-high, if you’re approved at all.
Digital Federal Credit Union offers the no-frills Visa Platinum Secured Card, which reports to the three major credit bureaus to help you rebuild your credit history.
| Product Name | DCU Visa® Platinum Secured Credit Card |
|---|---|
| Card type | Visa |
| Annual fee | $0 |
| Purchase APR | 13.5% variable |
| Balance transfer APR | 13.5% variable |
| Balance transfer fee | None |
| Cash advance rate | 13.5% variable |
| Cash advance fee | None |
| Penalty APR | 18% fixed |
| Foreign transaction fee | None |
| Interest free period | Up to 25 days |
| Late payment fee | $35 |
| Additional cardholder fee | $0 |
| Minimum Age | 18 years of age |
|---|
The basics
The DCU Visa® Platinum Secured Credit Card stands out for being light on fees — you’ll pay no annual fee and no fees for balance transfers, cash advances or foreign transactions.
Getting the card will require a membership with the Digital Federal Credit Union, which you can get by joining Reach Out for Schools for $10 when you open a DCU savings account with a minimum opening deposit of $5.
Then, based on your creditworthiness, you’ll receive a credit limit that will require you to put down a deposit matching that limit in your savings account, with a minimum of $500. So if you qualify for $1,000 credit limit, your deposit will need to be $1,000.
Learn more about joining the DCU here.
The perks
If you have poor or no credit, a secured credit card can help improve your credit score. Your initial line of credit is based on your security deposit. So through everyday spending, you’re building credit with every swipe of your card. Other benefits you’ll find with DCU Visa® Platinum Secured Credit Card include:
- Low 13.5% variable APR. This purchase, balance transfer and cash advance APR is low among secured cards.
- No annual fee. It’s a good choice for those looking for a low-cost credit card.
- No fees for advances or balance transfers. Save more with free cash advances and balance transfers.
- Compatible with Apple Pay, Android Pay and Samsung Pay. Use your mobile device to pay your bills at millions of stores.
You’ll also like:
- Free auto rental collision damage waiver. With a DCU Visa® Platinum Secured Credit Card, you’re covered for collision damage or theft on auto rentals.
- Extensive Visa travel services. You’ll receive $500,000 in free travel insurance coverage when you charge tickets for flights, trains and more on your card.
What to watch out for
The DCU Visa® Platinum Secured Credit Card aims to help you build your credit to meet your financial goals, but consider the following before you apply:
- Required DCU membership. You must be a DCU member to apply for the card.
- No rewards. Like many secured cards, this card offers no points or cash rewards.
- No intro APR. Once you’re approved, the 13.5% variable APR applies immediately.
How to apply for DCU Visa® Platinum Secured Credit Card
Before you can apply for a DCU Visa® Platinum Secured Credit Card, you’ll need to become a DCU member. You’ll also need to be at least 18 years old, a US resident and able to provide a valid Social Security or tax ID number. You’ll also need to provide:
- Your employment status
- Your monthly income
- Your monthly housing expense
How long will it take to be approved?
You’ll find out if you’ve been approved for the card instantly when you apply online.
I got the card. Now what?
You’re on your way to rebuilding your overall credit history and financial health. Here are some important tips to help making your payments a little easier.
- Manage your account online. Set up an online account to monitor and stay on top of your spending.
- Maintain your minimum deposit and credit line. Make sure you keep at least $5 in your savings account, plus the total amount for your credit line. For example, if your card’s credit limit is $500, you’d need at least $500 in your account, which includes the minimum $5.
- Avoid unnecessary interest. After the close of each billing cycle, you have a grace period of 25 days to pay your balance. If you do, you won’t pay interest on your purchases.
- Avoid fees. Returned payments come with hefty fees of up to $35, so consider signing up for autopay for automatic payments ahead of your due date.
- Contact information. Contact DCU at 800-328-8797, log in to your account to send a secure email or initiate a live chat.
What customers are saying about DCU
The online reviews for DCU are a mixed bag, from “absolutely perfect” to “terrible technology, poor training.”
Bottom line
If you’re looking to build or improve your credit score, the no-frills DCU Visa® Platinum Secured Credit Card could help with regular reporting to the three major credit bureaus. You can even use it to build up to an unsecured rewards card. But before you decide on this secured card, make sure to compare your other options.
If I choose to open an account, can I deposit $50 to open the secured line of credit?
Hello Teniks,
Thank you for your comment.
Yes, you can deposit $50 on this account, however please note that, your initial line of credit is based on your security deposit. So if you’re approved for a credit limit of $500, you’d need at least $500 security deposit in your account, which includes the $50 deposit. Hope this helps.
Regards,
Jhezelyn
I am wanting a credit card please.
Hi Janet,
Thanks for your inquiry!
To apply for the DCU Visa Platinum Secured Credit Card, please view the part of the page above that says “How to apply for DCU Visa® Platinum Secured Credit Card”. After going through the online application, you’ll instantly find out if you’ve been approved of the card. The probability of being approved or not depends on how you match the eligibility requirements of the card so make sure you review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Cheers,
Nikki
Need to get a credit card and i do have a job
Hi Terra,
Thanks for getting in touch with Finder. I understand you need a credit card. To apply for the DCU Visa Platinum Secured Credit Card, you’ll need to become a DCU member. You’ll also need to be at least 18 years old and a US resident.
Other requirements include:
A valid Social Security or tax ID number.
Your employment status
Your monthly income
Your monthly housing expense
As a friendly reminder, review the full eligibility criteria of the card and read up on the terms and conditions before applying. Feel free to reach out to the bank if you need any clarifications.
Hope this helps!
Best,
Nikki
I’m looking for a credit line 200 dollar and to get it deposit 49 dollar to get it
Hi Tyree,
Thanks for getting in touch! You may refer to this page for LOW DEPOSIT Credit cards. As a friendly reminder, review the eligibility criteria of the card before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the card. Hope this helps!
Best,
Nikki
I only have $100 to deposit and poor credit will my credit affect my deposit
Hi Joel,
Thank you for contacting finder.
Yes, your approved credit limit will be based on your creditworthiness and your security deposit should be the same as your approved credit limit.
I hope this helps.
Please do not hesitate to reach out again to us if you have additional questions.
Cheers,
Ash
can i usethis card out of de country
Hi Agnaldo,
Thank you for contacting finder.
Yes, you may use the DCU Visa® Platinum Secured Credit Card overseas as long as Visa is accepted.
I hope this helps.
Let us know if you have additional questions that you may need our assistance.
Cheers,
Ash
I am looking for what is the best card for me? I have a bad credit score and I need a card with a low fee to get my line of credit started. Can you recommend a card that fits what I am looking for?
Hello Michael,
Good day! Appreciate you contacting finder for your inquiry today.
I understand you wanted to get a card with low fees to get your line of credit started. You can see all the available card options for you on this page — https://www.finder.com/bad-credit-rating-credit-cards. On the table with the available cards, you will see there the interest rates and annual fees. Once you have chosen a card that you prefer, you can click on the green “Go to site” button to proceed with the application.
Carefully read the eligibility criteria first and ensure that you have met all of it before you apply. Choose only where you know you have the most chance of getting approved as multiple applications will negatively impact your credit standing.
Hope this helps!
All the best,
Ron
How do I add funds to increase my credit limit?
Hi Rudel007,
Thank you for your enquiry.
You would actually have to apply for a credit limit increase if you want to increase your Digital Federal Credit Union Visa® Platinum Secured card credit limit. A credit check would be required to determine if DCU can extend the limit on your Digital Federal Credit Union Visa® Platinum Secured card.
Please contact DCU using the contact number listed above and select option 3 to apply for a credit limit increase.
I hope this helps.
Kind regards,
Jason