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Build Credit With Public Savings Secured Visa

Offered by: Public Savings Bank

778 comments | Comment on this offer

Details

Purchase Intro Rate	0%
Purchase Intro Period	6 Months
Balance Transfer Intro Rate	N/A
Balance Transfer Intro Period	N/A
Regular APR	11.24%
Balance Transfer Rate	N/A
Cash Advance Rate	18%
Annual Fee	None
Late Fee	$20.00
Cash Advance Fee	See Terms
Balance Transfer Fee	None

Public Savings Bank Secured Visa features:

Build credit history – we report to all 3 major credit bureaus
0% APR on all purchases for the first 6 months
No annual fees or monthly maintenance fees
No credit check
No checking account required
Your credit is not a factor!
Choose your initial credit limit from $300-$2000
Four ways to fund your security deposit
Lifetime credit lines up to $5,000
25 day grace period
Free fraud protection against unauthorized use
No penalty APR
Use the card everywhere you see the Visa logo

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.

Comments

778 Total Comments

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This card does the same thing First Premier does (rebuild credit), but this is WAY cheaper for you. First Premier gives you a $300 credit line and then immediately charges over $200 to your card with all off their fees. You even pay a fee to FP to check your balance and transactions online! [How much can THAT possibly cost them?]

PSB is a much better way to go. It reports as an unsecured card, there is no annual fee and during the months when you're not charging anything to the card you pay nothing if you've paid your balance off---much like a decent prime credit card behaves.

Because you put collateral down to open the card you're much more likely to keep the account in good standing, which is what PSB is banking on.

Even with prime credit it's not a terrible card to have--there's just no rewards and the card will never unsecure. If you put plenty of money down to open it, you could dramatically improve your utilization on FICO if all you have is those awful little sub-prime fee harvester cards.

christoofar 1 year ago

Ok so you $79 to use the card and then $300 is deposited from you bank account, right? The $300 is your credit limit? Can you increase it and if so do you deposit more of your money? How soon will you credit go up and by how much? I am a newly wed and I have having my husband concerned because my credit is in the 500s because there is so much we want to do as husband and wife that depends on credit . . . any suggestions to build my credit fast?

momcfa1 1 year ago

i have a score of 509 wat can I do to improve that ....

mab86 1 year ago

This card is a good start. Just make sure you don't miss ANY payments if you go down this route.

CK Moderator

Hello! This is Bob from Public Savings Bank. Thank you for all the comments regarding our secured credit card offer. We're happy to be able to offer a great card and hope you find it useful. I'll be here to answer any questions you have about the card.

I welcome your comments as we take all of them seriously.

PublicSavBk 1 year ago

Thanks for joining the conversation.

CK Moderator

Momcfa1, you have it right! A minimum of $300 is the security deposit plus a one time fee of $79 to open the card. In this example, your credit line is $300. It can be increased after 120 days of being a customer by just adding more funds to your account. Please see the terms and conditions for all details.

I can't predict how it will affect your score but I believe the folks at CreditKarma have a tool for that.

PublicSavBk 1 year ago

So can you have direct deposit set up and have your limit more than $300 initially?? I would have 6 checks from 2 people going to this card if that can be done?

kdwilliams4 1 year ago

Can the card eventually be converted to an unsecured account?

grroberts4 1 year ago

kdwilliams4, the direct deposit you mention is really more of a feature you would find on a prepaid card. This is a secured card where you make a security deposit tat is held here at Public Savings Bank. you don't actually use the money. It's only held as security so I would recommend you do not set up your direct deposit payroll for this particular card.

PublicSavBk 1 year ago

grroberts4, at this time the card is only a secured card. It will not "graduate" in to an unsecured card.

PublicSavBk 1 year ago

Thanks for the info. I'll go with another card that will graduate in time.

Danx35 9 months ago

Can some one please explain to me how will this card help rebuild my credit and improve my credit score? does this card reports to the 3 major credit bureaus?

fjeanpierre 1 year ago

This card will report to the 3 credit bureaus. This means if you pay on-time, the card will help you build a positive credit history.

CK Moderator

Comment On This Offer

Credit Score Approval Data

Ideal for those with Very Poor Credit:

551

AVERAGE Credit Score Approved for this Card

453

LOWEST Credit Score Approved for this Card

† Credit Karma members have received approvals with these credit scores. Please note that because other factors such as income and employment status can affect credit card approval, these are only guidelines and approval is not guaranteed.