This secured card can help you rebuild your financial health while earning points toward Harley-Davidson gift cards.
Backed by U.S Bank, the Harley-Davidson Visa Secured Credit Card is the rare secured card that rewards your everyday spending as you improve your overall creditworthiness. You’ll earn points toward gift certificates for Harley-Davidson merchandise.
Your initial line of credit for this no-annual-fee card is based on a security deposit of $300 to $5,000, opening up the ability for you to re-establish your credit through everyday spending.
But watch out for a higher-than-average 24.24% variable APR and steep late and returned payment fees of up to $38.
|Product Name||Harley-Davidson® Visa® Secured Card|
|Balance Transfer Rate (not intro)||24.24% variable|
|APR for Purchases ( Purchase Rate )||24.24% variable|
|Cash Advance Rate||25.24% variable|
|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 30 days|
|Returned Payment Fee||$35|
|Foreign Currency Conversion Fee (VISA)|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|3% of transaction value|
|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.
|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.
|Returned Payment Fee||$35|
|Over The Credit Line Fee||$0|
|Late Payment Fee||$38|
|Cash Advance Fee||3% of the amount of each advance or $10 minimum, whichever is greater|
If you have poor or no credit, a secured credit card can help you build or rebuild your credit. Your initial line of credit is based on your security deposit, opening up the ability for you to re-establish your credit through everyday spending.
But the Harley-Davidson Visa comes with rewards beyond your typical secured card that include:
- No annual fee. This no-annual-fee card makes it a good choice for rebuilding your overall financial health.
- 1x points toward Harley-Davidson merch. Redeem 2,500 points for a $25 Harley-Davidson gift card. You’ll also receive entries in a monthly drawing for a free bike.
- Graduate to an unsecured card. After 12 months of paying your bill on time, you may qualify for an upgraded unsecured card.
How to make the high APR worth it
The Harley-Davidson Visa Secured Credit Card can help you rebuild your credit if you use it responsibly, but it does come with a 24.24% variable APR. To avoid unnecessary interest and still reap the benefits of rewards and improved credit, pay off your monthly balance on time.
What to watch out for
Because the Harley-Davidson Visa Secured Credit Card reports to the three major credit bureaus, you can boost your creditworthiness quickly. But you’ll want to consider a few drawbacks when weighing whether to apply.
- High 24.24% variable APR. Avoid unnecessary interest by paying off as much of your balance as you can each month.
- No grace period for advances. Cash advances begin attracting a high 25.24% variable interest from day one.
- Security deposits. You’re required to pay a minimum $300 security deposit.
- Must open a U.S. Bank account. You must deposit your security deposit into a U.S. Bank savings account.
How to apply for Harley-Davidson Visa Secured Credit Card
Always consider your options and your financial situation before you apply for a credit card.
You don’t need stellar credit to be approved for the Harley-Davidson Visa Secured Credit Card. But you will need to meet a few basic requirements:
- You’re at least 18 years old
- You have a valid Social Security number or taxpayer ID
- You are a US citizen or legal resident.
- You have a U.S. Bank checking or savings account
- You can submit proof of your employment status, income and expenses
To apply for a Harley-Davidson Visa Secured Credit Card:
1. Go to the U.S. Bank site and find the Harley-Davison Visa Secured Credit Card page. Click Apply Now.
2. You’ll choose from two ways of funding your card: online or by mail.
If you choose to mail in your application and security deposit, you’ll print and complete the application on the next page.
3. Complete your personal, housing, income and employment information. Choose whether you’d like additional cards and input your security deposit details. Carefully read the terms and conditions and check the box saying that you accept them. Then click Submit.
If your application is approved, U.S. Bank will send you a credit card with a credit line that reflects the amount of your security deposit within 10 business days.
I got the card. Now what?
Your deposit will be used to set up a U.S Bank secured savings account, which will earn nominal interest over time. Start building your credit with everyday spending and on-time payments, which are reported to the three major credit bureaus.
- Pay your statement. Payments are not automatically deducted from your secured savings account. You’re responsible for making at least your minimum payment by the monthly due date. You can pay your monthly bill through your account online, over the phone or by mailing in your payment.
- Avoid interest payments. After the close of each billing cycle, you have a grace period of 24 to 30 days to pay your balance. If you do, you won’t pay interest on your purchases.
- Avoid unnecessary fees. Late and returned payments come with hefty fees of up to $38. Balance transfers, cash advances and foreign transactions also come with fees.
- Contact customer service. Find support at 800-699-2281, log in to your account to send a secure email or reference U.S. Bank’s online FAQ.
What customers are saying about the Harley-Davidson secured Visa
The Harley-Davidson Visa Secured Card gets average to great reviews online, with customers praising its no annual fee. While the Better Business Bureau gives U.S. Bank an A+.
If you’re looking to build your credit and improve your overall financial health, a secured credit card can get you there — especially one that reports to the three credit bureaus.
The no-annual-fee Harley-Davidson Visa Secured Card comes with rewards toward merchandise, unlike similar secured cards. Just watch out for a high APR and fees.