Build good credit with UNITY Visa Secured Credit Card | finder.com

Review: UNITY Visa Secured Credit Card — February 2018

The UNITY Visa Secured Credit Card is designed to help get your credit back on track.

It’s hard to buy a car or house with poor or no credit. If you’re looking to improve your credit, the Unity Visa Secured Card can help. By staying on top of your monthly payments and spending responsibly, you can see your credit score go up.

Often called the “Comeback Card,” you can use your UNITY anywhere that accepts Visa.

Product NameUNITY Visa Secured Credit Card
Intro APR for Balance Transfer9.95% Intro APR for 6 months (with Whichever is greater: $10 or 3% balance transfer fee)
Balance Transfer Rate (not intro)17.99% fixed
APR for Purchases ( Purchase Rate )17.99% fixed
Annual fee$39
Cash Advance Rate17.99% fixed
Card TypeVisa
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 25 days
Returned Payment Fee$25
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.
2% of each transaction in U.S. dollars.% of transaction value
Minimum Interest$1
Minimum Credit ScorePoor (Below 660)
Minimum Age18 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.
$250
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.
$10,000
Annual fee$39
Returned Payment Fee$25
Over The Credit Line Fee$0
Late Payment Fee$10
Cash Advance Fee$10 or 3% of the amount of each transfer, whichever is greater (maximum fee: $150)
Additional Cardholder Fee$10

The basics

The UNITY Visa Secured Credit Card reports to the three major credit bureaus, which can help you build your credit if you use your card responsibly. You’ll get a secure line of credit with an equal deposit — which means if you deposit $500 you’ll get a credit line of $500. With an interest rate of 17.99% fixed and a minimum $250 security deposit, UNITY Visa is a solid choice for secured cards.

The perks

  • Builds your credit. Unlike a prepaid card or debit card, UNITY Visa secured card can help you build your credit.
  • Quick application process. The application is quick, easy and online, and there’s no application fee.
  • Anyone can apply. No minimum credit score required.
  • Credit reporting. Monthly reporting to the three major credit bureaus — Equifax, Experian and TransUnion.
  • Secure. Your security deposit is FDIC insured.

Watch out for…

To avoid paying interest, you must pay your balance within at least 25 days after the close of your billing cycle. If you pay your balance by the monthly due date, you won’t accrue interest charges. Before applying, also consider:

  • Security deposits. Even though there’s no application fee, you’re required to pay a minimum $250 security deposit.
  • No intro APR for purchases. Once you’re approved, you’ll pay the 17.99% fixed APR.
  • Fees. You’ll pay an annual fee of $39; for late payments there’s a $10 fee; and returned payments will cost you $25.

How to apply for the UNITY Visa Secured Credit Card

Always consider your options and your financial situation before you apply for a credit card. Before you begin the process, you’ll want to gather the following information:

Required documents & information:

    • Bank routing number.
    • Bank account number to provide a minimum security deposit of $250.
    • Full name and physical address (PO boxes are not accepted).
    • Contact information — email address and telephone number.
    • Social Security Number and date of birth.
    • Employment status and total annual gross income.
    • Total available assets.
    • Monthly housing payment.

    You can easily apply for the UNITY Visa Secured Card online. Here are the steps to take:

    1. Click the “Go to OneUnited Bank’s website” button above.
    2. Sign up on the first page to begin the process and click “Click here to continue.”
    3. On the next page enter your personal information. Click to continue.
    4. Next, you’ll supply your income information. Click to continue.
    5. The final step is to enter your deposit information. Your deposit will equal your credit limit, with a minimum of $250 and a maximum of $10,000.

    How likely is approval?

    To be eligible for the card you must:

      • Be at least 18 years of age.
      • Have a Social Security Number.
      • Have a US address.
      • Have a US bank account.

      How long will it take to be approved?

      One you’ve submitted your information, you’ll hear back right away unless more information is needed.

      I got the card, now what?

      • How to make payments. You can mail in your payment or use your bank’s online bill pay service.
      • How to avoid interest. To 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.
      • How to avoid fees. Avoid the $10 late payment fee by making your monthly payment on time.
      • Graduating to an unsecured card. The UNITY Visa Secured Credit Card does not provide a direct path to an unsecured card. However, once you use this card to raise your credit score, you can then go on to apply for an unsecured card with another bank.
      • Customer service. You can reach customer support by filling out an online form, or by calling 877-663-8648.

      What people are saying about the UNITY Visa Secured Credit Card

      OneUnited Bank gets 1 star out of 5 from the Better Business Bureau. Complaints range from “the worst customer service ever” to not being able to truly access their account online and make payments, even though their website claims that customers are able to do so.

      Bottom line

      If you’re looking for a credit card to help rebuild and strengthen your credit, the UNITY Visa Secured Credit Card could be a helpful solution. But with the abundance of negative online reviews, proceed with caution. Before choosing this card, be sure to compare it with other credit card options.

      Compare the UNITY Visa Secured vs. Capital One Secured

      Rates last updated February 22nd, 2018
      Unfortunately, none of the credit cards match that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
      Name Product Product Description Annual fee Min credit limit APR for Purchases ( Purchase Rate )
      UNITY Visa Secured Credit Card
      Borrow up to $10000 and get your credit score back on track.
      $39
      $250
      17.99% fixed
      Capital One Secured Mastercard
      Take control and build your credit with responsible use.
      $0
      $200
      24.99% variable

      Compare up to 4 providers

      Compare the UNITY Visa Secured vs. Discover it Secured

      Rates last updated February 22nd, 2018
      Unfortunately, none of the credit cards match that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
      Name Product Product Description Annual fee Min credit limit APR for Purchases ( Purchase Rate )
      UNITY Visa Secured Credit Card
      Borrow up to $10000 and get your credit score back on track.
      $39
      $250
      17.99% fixed
      Discover it® Secured Credit Card
      2% Cashback at restaurants or gas stations on up to $1,000 in combined purchases each quarter. Plus 1% cash back on all other credit card purchases.
      $0
      $200
      24.24% variable

      Compare up to 4 providers

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