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Build Credit With Public Savings Secured Visa

353 comments

Offered by:
Public Savings Bank
See all offers from Public Savings Bank

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Details:

Purchase Intro Rate	0%
Purchase Intro Period	6 Months
Balance Transfer Intro Rate	10.99%
Balance Transfer Intro Period	6 Months
Regular APR	See Terms
Balance Transfer Rate	See Terms
Cash Advance Rate	19.99% to 23.99%
Annual Fee	None
Late Fee	$25.00
Cash Advance Fee	See Terms
Balance Transfer Fee	None

Public Savings Bank Secured Visa features:

0% APR for purchases for 6 months
No annual fee. Just a one time fee of $79
No credit, income or employment requirements
Reports to all 3 national credit bureaus
25 day grace period

Additional Details: Click here for Additional Details (Will launch in a new browser window)

See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Take Offer Now" button, you can review the credit card terms and conditions on Provider's website.

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USER COMMENTS(353)

nmurray25
Jun 11
8:23 am

Is the card reported as a secured cc to 3 MCB or what?

CK Moderator

We'll have to take a look on the specifics how of they report.

Jedimicsaber
Jun 10
6:36 am

minimum deposit $300

Docjmartin
Jun 1
4:53 am

Actually every card will charge an annual fee due to new credit bill of rights law President signed which will start next May 2010. Bank are afraid to lose money so therefore will charge annual fee to gain profit. I read it in news at bankrate.com

Zero APR seems good deal but buyer beware and it isn't always good deal. Shop around and get what you truly need.

Mike11212
May 29
11:28 pm

I'm confused this is a BoA card?

wunderbiz
May 29
12:54 am

I think the better offer is Wells Fargo(https://www.wellsfargo.com/credit_cards/secured/). It's annual fee is $18.

CsharpBsharp
May 27
8:15 pm

Here is my conversation with Bank of America agent.

Thank you for choosing Bank of America. An operator will be with you shortly.

You are now chatting with Jonathan.

Jonathan: Hello, how may I help you complete your online credit card application today?

you: Hi quick question, if I open secure visa card, will BOA will report to all three Credit Burue?

Jonathan: Yes, every month!

you: Awesome

you: is there any application or processing fee? I didn't see any

Jonathan: No, nothing like that whatsoever.

you: That is a nice card. I also want to know, can I pay my BOA secure card bill using my Chase debit card every month.

Jonathan: You can't use your Chase debit card, but you can use your Chase routing number and checking account number to make payments.

you: that will do it. Lastly, is there any credit check required for secure card?

Jonathan: Yes, there is a credit check- the US Patriot Act requires that all applications for loans or credit cards include a full credit check for security verification purposes.

you: well that part is shady. I have opened just this month another secure card with Public savings bank and there was no credit check for that. Patriot act does require to share info about my card with Uncle Sam but does not require credit check.

Jonathan: Alright.

you: Thank you for your help.

Last text message receivedJonathan: Take care!

Based on above discussion, when I will open this account, each time BOA will pull my credit history I will be dinged on my credit score and I can not control when they pull my credit report. However it does have a decent Annual fee of $29 VS Public savings bank with NO annual fee just one time fee of $79. Since public savings bank card will be my oldest card (I am planning to keep it for five years). I am saving alot of money instead of paying $29 every year for five years. However I do like this card and may open it.

Tesaries77
May 27
1:52 pm

I am happy I found this site. :-) Bank Of America reports the card to the credit bureau as a secured card so I don't know how much help that will be if the purpose is to rebuild your credit. The only good thing is that after nine months of having the BOA secured card, your account will be reviewed for a unsecured card. If you are approved for an unsecured card, you will receive your deposit back but again, what good will it be if the card is being reported as a secured card?

With regard to that $79 fee, does that come out of the initial deposit needed to open the account or is that a separate charge all together?

Also, after reading more about the Public Savings Bank secured credit card, there is not chance of it every becoming a unsecured card. It seems to me that it would only be good fore the 6 months of no APR and after that, close the account and move on.

rayangel
May 27
9:50 am

bank of america is the BEST secured card out there no fees no monthly no start up no crazy stuff just a secured and after a year its a regular card with no crazy name. if theres an annual fee its minimal i didnt even notice it.Thanks last poster i was about to get this until I saw that last$79 fee. seriously bank of america is the best and orchard is the second but most people dont realize they can get orchard without being secured.

alysonleanne
May 20
7:44 am

You must put down a security deposit which will be your credit line. You also pay a 79.00 activation fee. =(

CsharpBsharp
May 16
9:34 am

@Hayden987, I have applied for it on May 14th and approval was instant since it is a secure card. Secure card means I had to deposit some money into their savings account.

Before I applied for it I used CreditKarma's simulator and it showed me that it doesn't matter if I open this account using $300 or $1000 it will still bring my score up equally. So what I did was I deposited $400 into Public savings bank account when I was filling out application. I had to just give my routing number and account number. I just saw on my bank site that my payment just got clear today and now I am waiting for my card.

For some reason up until yesterday my credit score was 576 on Transunion and 600 on Experian but today when I checked using credit karma soft inquiry it went up to 578 already, I don't know if it was affect of this card or something else but I am delighted I am finally seeing my credit going up.

I hope this Helps.

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551

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453

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