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Establish or rebuild your credit with this simple, low-annual-fee card.
30-second take
- Get this card if you have no credit history or if you have bad credit score.
- Pick something else if you want a card without annual fee.
- Apply with no credit history or with poor credit score.
| Product Name | UNITY Visa® Secured Credit Card |
|---|---|
| Card Type | Visa |
| Annual Fee | $39 |
| APR (Annual Percentage Rate) for Purchases | 17.99% fixed |
| Introductory Balance Transfer APR | 9.95% for the first 6 months (then to fixed) |
| Balance Transfer Fee | $10 or 3% of the transaction, whichever is greater |
| Cash Advance Rate | 17.99% fixed |
| Cash Advance Fee | $10 or 3% of the cash advance amount, whichever is greater |
| Foreign Transaction Fee | 2% of the transaction value |
| Interest Free Period | Up to 25 days |
| Minimum Interest | $1 |
| Late Payment Fee | $10 |
| Returned Payment Fee | $25 |
| Additional Cardholder Fee | $10 |
| Minimum Age | 18 years of age |
|---|
The basics
The UNITY Visa® Secured Credit Card reports to all three major credit bureaus, which can help you build your credit if you use your card responsibly. In addition, you have full control of your credit line since it’s equal to the amount you deposit. Compared to other secured cards, it also comes with a high maximum credit line.
Furthermore, the card comes with lower fees when compared to other secured cards, including a lower foreign transaction fee, late payment fee and returned payment fee. Plus, you get an intro APR period on balance transfers.
The perks
Build your credit.
The card reports to all three major credit bureaus — TransUnion, Experian and Equifax. With responsible use, you’ll build your credit and eventually be able to apply for a better, unsecured card.
No minimum credit score to apply.
You can apply with a credit score of 300 or with no credit history at all.
High credit line.
Your credit line is determined by the amount you deposit. For this card, you can deposit from $250 up to $10,000. Most secured cards offer a maximum credit line of up to $3,000 or $5,000.
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Quick application process.
The application is quick, easy and online, and there’s no application fee.
Intro APR on balance transfers.
Get a 9.95% intro APR period on balance transfers for six months following your account opening. After that, a fixed APR of 17.95% will apply. Most secured cards have no balance transfer option.
Secure.
Your security deposit is FDIC insured.
Visa card.
Enjoy the freedom of a secured card that’s accepted worldwide.
What to watch out for
Annual fee.
You’ll have to pay an annual fee of $39 to own the card.
Foreign transaction fee.
For each transaction you make when traveling abroad, you’ll incur a fee of 2% of the transaction. Most secured cards have a foreign transaction fee of 3%.
Other fees.
For late payments, you’ll pay a $10 fee and for returned payments a $25 fee.
Loss of intro APR on balance transfers.
If you’re late on paying your bill by more than 60 days, you may lose your intro APR period on balance transfers.
Consider other cards if …
You want a similar card from another bank.
Similar cards that can help you build your credit score are:
You want an unsecured card for bad credit.
You can also apply for unsecured cards made for those with bad credit. One such card is the Platinum Credit Card from Capital One® where you have no annual fee, but you have a high APR on purchases.
If you’re a college student, you can consider the Citi ThankYou® Preferred Card for College Students where you get to build your credit and earn rewards at the same time.
You want to earn cash back while building credit.
In this case, you can check out either the unsecured QuicksilverOne® Rewards from Capital One® or the secured Discover it® Secured. Both cards can help you build your credit and you’ll earn cash back for your purchases.
Compare secured cards
What should I know before I apply?
Apply for the card if you’re at least 18 years old and you’re a permanent resident of the US.
To fill out the application form, you’ll need the following information:
- Full name and contact information.
- Amount of your deposit and deposit information.
- Social Security Number and date of birth.
- Employment status and financial information.
What credit score do I need?
You can apply with no credit history or with a bad credit score. If you have a bankruptcy that isn’t discharged, you can’t apply for the card.
What do customers say about the UNITY Visa® Secured Credit Card?
Most customers complain about poor customer support. Some claim they can’t make online payments through the card’s website and because of that, they have numerous late payments.
Others claim they easily make on-time payments with their bank’s bill pay service. The bank has the additional option to use Speedpay by Western Union.
The Better Business Bureau (BBB) has not yet rated OneUnited Bank, but it rated them F. This rating is mostly because of its failure to respond to or resolve user complaints on the BBB website.
How to apply for the UNITY Visa® Secured Credit Card
- Go to OneUnited Bank’s website and sign up to begin the process.
- Enter your personal information and deposit information. Your deposit will equal your credit limit, with a minimum of $250 and a maximum of $10,000.
- Review your application and submit it.
How long will it take to get my UNITY Visa® Secured Credit Card?
OneUnited Bank usually makes a decision in a few minutes. If additional information is required, you’ll be notified.
Upon approval, your card should arrive within 7 to 10 business days.
I got the card, now what?
- Download the OneUnited Bank Mobile Banking app. With the app, you can transfer money, pay bills, find ATMs or branches near you and more.
- Avoid interest. Pay your balance in full each month. If you make payments in increments, make at least the minimum payment by the due date each month. The payment due date will be on the same day every month.
- Graduate to an unsecured card. You won’t get a direct path to an unsecured card. However, once you start making timely payments you’ll raise your credit score. You can then apply for an unsecured card.
- Customer service. You can reach customer support by filling out an online form or by calling 1-877-663-8648.
Bottom line
If you’re looking for a credit card that can help you rebuild and strengthen your credit, the UNITY Visa® Secured Credit Card could be a helpful solution. You’ll get to have low fees when compared to other secured cards and you’ll get an intro APR period on balance transfers.
Before choosing a card, be sure to compare it with other secured cards to choose the right one for building your credit.
