"Comparisons and secure applications
of the best credit card offers online."
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"Comparisons and secure applications of the best credit card offers online." |
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Additional Details, Terms and Conditions | |
| Category | Secured |
|---|---|
| Status | Platinum |
| Introductory Percentage Rate | 0.00 |
| Intro Applies To | Balance Transfers |
| Intro Details | The introductory rate applies to the first twelve billing cycles for balance transfers, cash advance checks, and direct deposits. |
| Purchase Rate Type | Variable |
| Minimum APR on Purchases | No |
| Cash Advance Rate Type | Variable |
| Minimum APR on Cash Advances | No |
| Finance Charge Calculation | Average Daily Balance (including new purchases) |
| Annual Fee | $29 |
| Additional Annual Fees | $0 |
| Annual Fee Detail | None |
| Grace Period | 20 Days (Min.) |
| Late Payment Fee | $35 |
| Over Limit Fee | $35 |
| Cash Advance Fee | 4, $5 minimum (5%, $25 minimum for cash equivalent transactions) |
| Balance Transfer Fee | 4%, $10 minimum, $90 maximum |
| Minimum Balance Transfer | $300 |
| Maximum Balance Transfer | $10,000 |
| Minimum Deposit | $300 |
| Maximum Deposit | $10,000 |
| Application Fee | n/a |
| Participation Fee | n/a |
| Reload Fee | n/a |
| Inactive Fee | n/a |
| Deposit Interest | No |
| Total of First Year Fees | $29 |
| Additional Perks | Various Internet account related services. No liability for unauthorized transactions. Various travel and emergency assistant services. Auto rental insurance. Purchase replacement. Purchase protection. Access to Photo Expressions®. See website for additional benefits. |
| Notations | Cardholders may qualify for an unsecured card at a later date, based on credit and payment history. See website for complete terms and conditions of card usage and application disclosure. |
| Features / Benefits: | Credit Lines Available From $300 to $10,000 |
| 1 | Set Your Own Credit Limit |
| 2 | Build or Reestablish Your Credit |
| 3 | Additional Details & Information |
| 4 | Card issued by FIA Card Services, N.A. |
| Rating | 3.00 |
| Benefit Rating | 3.50 |
| Best Feature | No application fee; low minimum deposit required. |
| Worst Feature | Annual fee. |
| Review | The Bank of America Secured Visa® Card issued by Bank of America, is designed for those with limited or poor credit who may have had difficulty in obtaining a standard unsecured credit card. There is an annual fee of $29, which is average for a secured card. Although the APR applied to purchases is reasonably low for a secured card, this card does not charge an application fee or a transaction fee for purchases, which are favorable benefits. Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide several benefits, including auto rental insurance, travel, and emergency assistance, and Total Security Protection®. it also has the option to receive convenience checks at no extra charge. Perhaps the best benefit is the 0% introductory rate for balance transfers, cash advances, and direct deposits. The card also offers access to the Photo Expressions®. Therefore, those who can afford to pay in full each month (to avoid finance charges) and can afford the $300 minimum deposit will benefit most from what the Bank of America Secured Visa® Card has to offer. |
| Date of Data Update | 2008-08-19 00:00:00 |
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