Additional information of Visa Secured card
An important aspect about the Visa secured secured card is that it requires you to be an active Comerica bank customer. Aside from this requirement, you must pay an annuity to have access to this secured plastic.
If you want to reduce your credit utilization rate and expect to maintain a month-to-month balance, this alternative may help you.
It has a lower interest rate than the most popular option for this type of account.
In addition, there is no penalty fee when you default, which can be a big negative if you are trying to improve your spending habits. This is especially tricky for people who are recovering from bankruptcy or a difficult time.
Another significant detail is the absence of activation fees, which are often present on unsecured cards. These are usually fees that punish those who are trying to rebuild their FICO score.
To this we add the classic Visa benefits, such as zero liability for fraud and extended warranty on purchases, which are not common for these plastics.
In short, the Secured Visa card can be an attractive option for those who already have a relationship with Comerica Bank. While it doesn't have the same benefits as more popular alternatives, it includes a fairly competitive interest rate and offers a fairly large limit.
If you want to compare it with other secured cards, at Busconómico we offer you a complete list of all those available on the market, highlighting some such as the Bankamericard or the Truist Bank Enjoy Cash secured credit card.
Español: Tarjeta de crédito Visa Asegurada