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

Review: UNITY Visa® Secured Credit Card — July 2018

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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 Credit 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 card anywhere that accepts Visa.

Product NameUNITY Visa® Secured Credit Card
Card TypeVisa
Annual Fee$39
APR (Annual Percentage Rate) for Purchases17.99% fixed
Introductory Balance Transfer APR 9.95% for the first 6 months (then to fixed)
Balance Transfer Fee3% or $10 (whichever is greater)
Cash Advance Rate17.99% fixed
Cash Advance Fee$10 or 3% of the cash advance amount, whichever is greater
Foreign Transaction Fee2% of the transaction amount
Interest Free PeriodUp to 25 days
Minimum Interest$1
Late Payment Fee$10
Returned Payment Fee$25
Additional Cardholder Fee$10
Minimum Age18 years of age

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% and a minimum $250 security deposit, UNITY Visa® Secured Credit Card is a solid choice for secured cards.

The perks

  • Builds your credit.
    Unlike a prepaid card or debit card, UNITY Visa® Secured Credit 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% 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 a
    pply for the UNITY Visa® Secured Credit 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.

      FAQs

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      Megan Horner

      As the assistant publisher of credit cards at finder.com, Megan is passionate about helping you compare and find the best credit cards for your situation, whether that is earning great rewards or improving your credit score. In her previous position, Megan worked as an assigning editor at Credit Karma, where she focused on editing and publishing educational articles on credit cards. Megan started her career as a writer at a comparison website, so she has a longstanding background in surfacing the best deals and helping people make decisions. In her spare time, Megan likes to hike, camp, surf, and read.

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