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Points
$0
Annual fee
11.99%
Purchase APR (variable)
300
Recommended credit score
Product Name | SDFCU Savings Secured Visa Platinum Card |
---|---|
Card type | Visa |
Annual fee | $0 |
Purchase APR | 11.99% variable |
Balance transfer APR | 11.99% variable |
Cash advance rate | 11.99% variable |
Cash advance fee | $3 |
Foreign transaction fee | None |
Interest free period | Up to 21 days |
Late payment fee | $25 |
Returned payment fee | $25 |
Additional cardholder fee | $0 |
Review by
Jennifer Gimbel has over five years of experience informing editorial strategy at one of Disney’s digital media brands. Now as loans editor at Finder, she strives to create engaging, transparent content to help readers find products to meet their financial goals. On the weekends, you can catch Jenn at the dog park with her pup Olive or exploring the streets of Brooklyn — iced coffee in hand.
Whether you’re just starting to build credit or trying to improve a poor credit history, the State Department Federal Credit Union SDFCU Savings Secured Visa Platinum Card can help you get there. With no annual fees, balance transfer fees or foreign transaction fees, the 11.99% variable APR is just icing on the cake. Unlike most secured cards, this card even offers a rewards program that empowers you to earn rewards as you build credit.
There’s no hard pull on your credit history if you apply by phone, and income verification is not required. Unlimited credit limits require a minimum deposit of $250, which is placed in a savings account that earns interest. Plus, you’ll be considered for graduation to an unsecured version after 12 months of responsible card use.
If you’re already a member, applying for the SDFCU Savings Secured Visa Platinum Card is easy. Your application can be completed online, by phone or in person. To avoid a hard pull on your credit, apply by phone.
If you’d rather apply by phone, you can call their 24-hour card services line at 800-296-8882.
Rather talk to someone face to face? Visit the branch locator to find your local branch. Keep in mind that you’ll still need a membership and all of the required documents regardless of how you apply.
Approval for this card is very likely, as there is no minimum credit score or income verification. However, credit checks are required for new users to verify your identity.
Applications are processed manually and usually take less than a week.
To apply for this card, you must first have an account at the State Department Federal Credit Union. To be eligible for the account, you must be one of the following:
ACC membership is available to any American citizen who has purchased or currently uses a major consumer product or service, including but not limited to the following:
To apply, simply visit the website and proceed through the application with all of your personal information.
With no annual fee and free balance transfers and cash advances, secured cards don’t get much more affordable than this. If your account has over 100 transactions by the end of the year, you’ll receive a year-end summary, helping you pinpoint areas of improvement as you move forward.
Unlike most secured cards, the SDFCU Savings Secured Visa Platinum Card features an incredible rewards program. You’ll earn Flexpoint rewards at a rate of 1 Flexpoint per dollar spent, and bonus Flexpoints anytime you pay a bill through Bill Pay. Your points can be redeemed on:
The card also comes with an EMV chip and PIN capability, meaning it can be used overseas in countries that are predominantly rely on chip cards. And with no foreign transaction fee, this make this card a great option for international travel.
While balance transfers are free, they are still subject to the standard APR.
This card was designed to help build or rebuild credit, and with worldwide acceptance and almost no fees, it’s easy to make this card worth it. Start by paying down a deposit to set your credit limit, then sit back and watch the interest accrue. In the meantime, stay on top of your monthly payments, maintaining the lowest balance possible to avoid fees or interest charges.
Use the card as often as possible to earn Flexpoints, and use bill pay for your monthly payments to get those five bonus Flexpoints every month. Monitor your Flexpoints balance online, then take advantage of your hard work with one of the many rewards.
It’s rare to find a secured card that doesn’t charge monthly or annual fees, especially one that comes with such a generous rewards program. However, the card does have its drawbacks:
Now that you’ve been approved, it’s time to start using your card. Here’s how to take advantage of your new Savings Secured Visa Platinum card:
Curiously, The State Department Federal Credit Union isn’t rated on Trustpilot or accredited by the Better Business Bureau (BBB). They do hold an A+ rating on the BBB website, but you might want to take that with a grain of salt considering the lack of reviews. Users on the BBB website have made complaints about a lack of communication and clarity in applying for financial products, but the sample size is fairly small.
In contrast, users on the myFICO and CreditKarma forums generally have more positive things to say about the credit union. On multiple accounts, the card is praised for being the best secured card out there, backed up by mentions of great service.
This card is arguably one of the best secured cards available. Even though the card can be a bit of a hassle to obtain if you aren’t a member of the credit union, the benefits are well worth the process. Look no further if you’re looking for an affordable secured card with a low APR and a generous rewards program.