U.S. Bank Secured Visa® Card review

Finder experts pick U.S. Bank Secured Visa® Card as a 2021 best product for credit cards.

How to apply for the card

1. On the U.S. Bank Secured Visa® Card website, click Apply Now.
2. Provide the required information, including the amount you will be funding for your security deposit, and review your application.
3. Carefully review the terms and conditions and accept them if you agree. Then click Submit.

• See screenshots of the application form

  

  

How likely is approval?

A credit score of 300 or higher increases the possibility of your application’s approval.

How long will it take for me to be approved?

If you apply online, you’ll learn your card’s conditional approval almost immediately.

The perks

• Build or establish your credit. U.S. Bank reports responsible spending to the three credit bureaus, which could help you rebuild or establish your credit over time with responsible spending and on-time payments.
• Reasonable starting deposit. The bank requires that you open a savings account with a minimum of $300. You can deposit up to a maximum of $5,000 depending on your desired credit limit, though the bank won’t necessarily approve you for your deposit amount.
• Earn interest on your deposit. Your U.S. Bank savings account will earn interest over time.

You’ll also like

• Online access. U.S. Bank’s online banking gives you easy access to account statements and the ability to make payments, get cash advances and download your account’s history.
• Autopay. You can set up autopay toward up to your full statement balance for each month for whatever date works best for you.
• Security. You’ll enjoy zero fraud liability and fraud protection in the event your card ever becomes lost or stolen.
• Free credit score. Enroll in online banking to get your TransUnion credit score and credit monitoring at no cost.

Compare secured credit cards

Sort by:

Name	Product	Filter values	Minimum deposit required	Purchase APR	Annual fee	Recommended minimum credit score
Citi® Secured Mastercard®			Starting at $200	22.49% variable	$0	New to credit	A no annual fee secured card for people who are new to credit or have limited credit history.	Apply now View details	Compare	loading Fetching your data...
Self Visa® Credit Card			Starting at $100	21.74% variable	$25	300	Build your credit with a low minimum security deposit of $100 and no credit score required.	Apply now View details	Compare	loading Fetching your data...
Surge Secured Mastercard®			Starting at $300	19.99% variable	$69	300	Earn 1% cash back rewards.	Apply now View details	Compare	loading Fetching your data...

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What to watch out for

• Annual fee. There’s a $0 annual fee for membership. The are no offered benefits to offset the cost.
• Foreign transaction fees. You’ll be subject to foreign transaction fees when you make purchases abroad.
• Penalties. Late payments and returned payments will cost you up to $40 and $40 respectively.
• APR. The U.S. Bank Secured Visa® Card features a moderately high variable purchase APR of 23.99% and an even higher variable cash advance APR of 25.99%.
• No rewards. The U.S. Bank Secured Visa® Card lacks any sort of reward program or benefits despite the annual fee.

What should I know before I apply?

To apply for the U.S. Bank Secured Visa® Card you’ll need to provide the following information:

• Personal information.
  This includes your full name, date of birth, Social Security Number, place of residence, phone number and email address.
• Financial information.
  This includes your employment status, total annual income and the source of your total annual income.
• Funding information.
  You’ll need to open a savings account with U.S. Bank to hold your deposit. U.S. Bank requires the source of your funding account, including the account and routing number, as well as the total amount you plan to deposit.

What credit score do I need?

There’s no required credit score for applying for this card. However, U.S. Bank takes your credit score and financial history into account when determining your credit limit.

U.S. Bank Secured Visa® Card reviews and complaints

U.S. Bank has been accredited with the Better Business Bureau since 1970 and earns an overall A+ rating as of October 2020. Roughly 98% of its reviews are negative — and it has nearly 2,300 customer complaints. U.S. Bank customers in general complain of duplicitous customer service reps, issues disputing charges and inflexible company policies.

The company earns a Trustpilot score of 1.5 out of 5 as of October 2020. Many negative reviews cite unhelpful customer service and unethical activities.

If you choose this card, monitor your bank account carefully to stay on top of any unexplained fees or other abnormalities, and keep records and details of any calls you make to customer service.

I got the card. Now what?

• Set up online banking. Turn on autopay, reminders and any other features to make card management as easy as possible.
• Pay your balance in full. This is the best way to build or establish your credit.
• Avoid unnecessary fees. Cash advances, balance transfers and late payments can lead to big fees that can affect your ability to pay your balance.

Bottom line

The U.S. Bank Secured Visa® Card is for those who just want to establish or rebuild their credit in a straightforward fashion. But if you’re looking for a secured card with more perks or no annual fee, compare your options to find one that better suits your needs.

Frequently asked questions

• Can I deposit more than $5,000 into my card?

  No. The maximum deposit allowed is $5,000.

• Does U.S. Bank deduct payments from my savings account?

  No. You’re responsible for making your card payments before each due date.

• Can I apply for this card through the mail?

  Yes. You can print and mail your application to U.S. Bank. You can also apply for your secured card at a physical branch.