Credit Card

Credit Card Loans

Credit cards are the most widely used form of payment in the world. Millions of people have made purchases with their Visa credit card and benefit from its prestige and security.

Women with Card

Benefits

  • Auto Rental Collision Damage Waiver
  • Cardholder Inquiry Service
  • Emergency Cash Disbursement & Card Replacement
  • Lost/Stolen Card Reporting
  • Zero Liability in fraudulent transactions

There are two kinds of cards: secured and unsecured.

Unsecured Credit Card

The unsecured card is the standard credit card. Users are given apre-established credit limit. The credit limit is set depending on the user's credit history and income.

Secured Credit Card

The secured credit card requires a collateral deposit. What it means is that you can put a certain amount in your savings account and obtain a line of credit for the same amount. For example, if you deposit $1000 in the account, you can spend up to $1000. The advantage of the secured card is that it develops credit history and allows the user to make purchases at retail stores, by phone and over the Internet.

The secured card is ideal as a first card for students, couples, or anyone seeking to establish credit.


Secured
Unsecured
Minimum credit limit
$300.00
$300.00
Maximum credit limit
Amount available in the share account minus a $10 deposit
Varies according to income and credit history
Fees
No annual fee
No annual fee
Minimum rate
9.75%
15%
Maximum rate
18%
18%
Interest adjustment
may change quarterly with no maximum increase or decrease
may change quarterly with no maximum increase or decrease
Grace period
25 days; no interest due on purchases if balance paid in full
25 days; no interest due on purchases if balance paid in full
Cash advances
no fee; same interest rate as purchases, but grace period does not apply
no fee; same interest rate as purchases, but grace period does not apply
Payments
greater than $25 or 3% of balance
greater than $25 or 3% of balance

 

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