US Bank Secured Credit Card

Okay so you're researching the US Bank secured credit card Duane here with how to build credit TV and in this video I'm gonna be talking about the u

s Bank secured credit card But before we get started I have a quick message Once again my name is Duane with how to build credit TV This channel offers 100% free information about how to build credit, how to get cash back actual cash money from using credit cards, as well as credit card reviews

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Alright now that we have all of that out the way let's talk about the US Bank secured credit card There are a lot of secured credit cards out there but I think this one is one of the better cards that you can have the us Bank secured credit card So what I'm gonna do is I'm gonna jump on my laptop and we're gonna have a look at the website so we can go over a little bit more of the information in regards to the US bank secured credit card

Give me one second and i'ma jump on my laptop I'll see you on the laptop Okay so we're at the website for the US bank secured credit card and as you can see it says establish your credit and reap the benefits Get worldwide purchasing power and flexibility as you work to build or re-establish your credit history So this site it's pretty simple I mean there's there's not a lot going on here It talks about the benefits of the US bank secured credit card

It talks about having zero fraud liability which means you're not responsible for unauthorized transactions if your US bank secured card is ever lost or stolen It talks about fraud protection It detects and notifies you when any unusual card activity to help prevent fraud of course and it talks about auto rental insurance It's yours automatically at no costs that's what it says right there when you charge your entire car rental on your us Bank secured Visa card and decline the rental companies collision damage waiver option Coverage on a 24-hour basis for damage due to collision or theft

That is pretty cool though because when I rent cars I'm like man do I really need the insurance you know and I'm always living on the wild side I'm always like no I don't need it So that's kind of cool that that they provide auto rental insurance just just for using this card which is really good the us Bank secured credit card And it's a secured credit card so that's a pretty good benefit

It has online banking of course there's automatic bill pay and it talks about flex control The us bank offers this online tool to help you avoid interest and late fees with automatic payments that you can put in control I'm sorry that put you in control It also helps you pay down a balance faster

Learn more at the US bla bla bla bla so on and so forth Okay so right here it says how secured credit cards works it talks about how you can fund your us Bank secured credit card and it says funding online using your checking or savings account Which means you do not have to have a bank account with us bank to get this credit card

You can just have your regular bank account and you just transfer the money from your bank account to there's or not to there's but to open a savings account basically You can apply by mail I don't know why anybody would want to do that but you can And you just have to submit a cashier's check or a money order It says if your application is approved we'll send you a credit card and I'm sorry send your credit card with a credit line The same amount as your deposit

It talks a little bit about the fact that you can earn interests It says the US Bank secured savings account is FDIC insured earns interests and won't be touched as long as your account remains open and standings So I'm not sure about the interest part I did contact customer service to ask how the interest earning works or what the percentage was and they were they weren't able to give me a direct answer It was a weird a very weird setup Like if you don't make your entire if you don't pay your entire statement when it's due like let's say you have $200 on the account you take 20 bucks

Then you would you would earn interest based on the one hundred and eighty bucks that you had left over but you're not really earning interest the way that the customer rep explained it to me because when the next bill comes out you're going to be charged interest because you had the balance of $180 sitting there And then so whatever interest that you supposedly earned you're going to have to pay that because you let the balance sit on the card and the the interest that they charged for letting a balance be on the card is actually like twenty point four nine percent We'll look at that in just one second, so anyway it says payments are not automatically deducted from your secured savings account You're responsible for making at least your minimum payment by the monthly due date Let's take a look real quick at the terms and conditions just so you guys can see this for yourself here real quick

Alright so right here of course it says annual percentage rate so as US bank secured visa card twenty point four nine percent That's not bad compared to some other secured credit cards out there and then of course this part is very important that I definitely want to make sure I talk about the annual fee There is an annual fee with the US bank secured credit card and that is $29 So there are secured credit cards that are free free as in no annual fee There are several over there Citibank there's a Discover Card those two I actually have at the moment

So it talks about late fees and so on and so forth you guys can read over that but that's pretty much that's pretty much it for the US Bank secured credit card It's not too bad of a card if you're interested in getting the card I would get the card because you can upgrade after a year you can upgrade to another one of their credit cards And bad news is you have to close your secure card account and open a brand-new account But they have pretty decent cars like the us

the us bank cash plus that's not a bad card at all and you can earn up to five percent on that particular card I pulled up here you can see you can go over their website and see if you qualify if you're pre-qualified for a credit card Which is always good but this is the card I was talking about the cash back card the u

s us bank cash plus I'm gonna do a review on this one as well but this was not too bad

You can earn five percent on certain categories that you select which is really cool and then of course you can get odds of $150 cash back after making five hundred dollars of purchases in your first 90 days So anyway thanks for watching this video I'll see you guys in just one second Okay thanks for watching this video once again our channel talks about everything you need to know about credit Whether you're looking to establish credit, build credit, rebuild credit or learn more about the FICO score and how it is comprised so you can increase your credit score If this sounds like something in which you're interested be sure to subscribe to our Channel and click that notification bell so you don't miss a thing

Thanks again for watching the channel if you have any questions please leave them in the comment below I'll answer it as soon as I see it If you like this video be sure to give me a thumbs up and if you want to share this video with somebody that you think may find helpful please feel free to do so Once again thank you for watching until next time take care and be blessed Peace!