The Secured Visa Credit Card is one of the major secured credit cards available nowadays. It offers a number of benefits to its holders like low annual fees and the opportunity to improve as well as build a credit score.
Description of Secured Visa Credit Card
The holders of the Secured Visa Credit Card can put in any amount of money within the limit of $300 to $10,000. In case of the Secured Visa Credit Card the line of credit gives an idea of the amount of money that has been put in by the holder of the card.
The holder of the Secured Visa Credit Card can buy against this card but he is not allowed to spend more than the limit of the card. It is advisable to pay off the least required sum on the fixed date of payment in each month. This is supposed to be helpful to the owners of the Secured Visa Credit Card in the long run.
Features of Secured Visa Credit Card
Following are the main characteristics of the Secured Visa Credit Card:
In case of balance transfer or cash advance check fee the service tax that is imposed in these transactions is four per cent. The minimum limit in this case is $10 and the maximum limit is $90.
The Secured Visa Credit Card is meant for people who want to build a credit record or repair the same.
The Secured Visa Credit Card has a prime annual percentage rate. It also has a variable annual percentage rate of 10.99%.
The yearly fee of the Secured Visa Credit Card is $29
Uses of Secured Visa Credit Card
The Secured Visa Credit Card can be used for the purpose of repairing as well as building a credit record.
