Additional information of Visa Secured card
How the Umpqua Bank Visa Secured Credit Card works applies to all of these credit instruments.
First you must make a security deposit of at least $300, which is the money you will use. In addition, this entity requires you to have a social security number, be 18 years of age or older and have a U.S. address.
This card gives you the opportunity to improve your financial habits, repair or start your credit history depending on your needs. That's why you must open a secured savings account, which serves as collateral for your account once you are approved. Keep in mind the following:
- Online and offline merchants will not know that it is a secured credit card.
- If you make late payments or exceed your credit limit, this will reflect negatively on your credit history.
You may be interested in: U.S. Bank secured Visa credit card
This instrument does not have a penalty APR, but does have some fees:
- Late payment: up to $41
- Returned payment: up to $41
- Foreign Transaction: 3%.
- Balance transfer: $5 or 3% of the amount (whichever is greater)
- Cash Advance (29.99%): $10 or 5% of the amount (whichever is greater)
The Umpqua Bank Visa Secured card is an alternative for those who can't get a conventional credit card and need more control over their spending. In this category there are many options that you can compare on Busconómico, where you can find the best banking products on the market.
English: Tarjeta Visa Secured de Umpqua Bank