Whether you’re establishing credit for the first time or rebuilding it, this secured card is tailored to help you succeed. With no annual fee, full credit bureau reporting, and flexibility to increase your limit over time, it’s a dependable choice for disciplined credit building.
🎁 Rewards
- No rewards or cashback—this card is laser-focused on building credit, not earning perks.
💸 Economy & APR Introduction
- Annual fee: $0—no membership or upkeep fee.
- 25.99% fixed APR on purchases, balance transfers, and cash advances (based on Prime Rate). Penalty APR is 24.99% if payments are missed.
- Requires a Credit Builder Savings Account with a $300–$3,000 deposit—your security and credit limit.
- $5 quarterly fee applies to the savings account unless you enroll in e‑Statements.
🧰 Benefits & Credit-Building Tools
- Monthly reporting to Equifax, Experian, and TransUnion to help build your credit history.
- Credit limit is flexible—add as little as $50 increments to your savings account to raise it; can scale up to $3,000.
- Offers an upgrade path to an unsecured Armed Forces Visa card if you maintain good performance.
- Joint account options available—make it a shared credit-building tool with a spouse.
🚀 Technology & Convenience
- Use either the 1st or the 16th of the month as your payment due date for budgeting flexibility.
- Manage your card and linked savings via Armed Forces Bank’s online portal or mobile app.
- EMV chip and Visa® network security included, though no mobile wallet integration is specified.
🔐 Security Features
- Zero Liability: you’re not responsible for unauthorized charges.
- Accounts are FDIC-insured.
- Using a secured model (deposit account) keeps card risk low and ensures peace of mind.
📄 Terms & Conditions
| Feature | Details |
|---|---|
| Annual Fee | $0 (plus $5 quarterly savings fee without e‑Statements) |
| APR | 25.99% fixed (24.99% penalty APR) |
| Security Deposit / Limit | $300–$3,000 collateral account sets limit |
| Credit Bureau Reporting | Monthly to all three bureaus |
| Balance Transfer Fee | None |
| Cash Advance Fee | $5 or 2% (whichever greater) |
| Foreign Transaction Fee | 0.8%–1.0% depending on currency conversion |
| Other Fees | Returned payment or late fee up to $25; no over-limit fee |
Pro tip: Enroll in e‑Statements to avoid the quarterly fee. Contribute to your savings account in $50 increments to strategically lower utilization and optimize your score.
✅ Ideal for & When to Consider Other Options
Best suited for:
- Those with little or no credit in need of a secure, low-cost builder card.
- People who prefer a structured path to credit improvement, including potential upgrade later.
- Military personnel and families, but available regardless of service status.
Might not be ideal if you need:
- Rewards, cashback, or travel perks—this card offers none.
- A lower cost or no supplemental fees card (Compare: Discover it® Secured, Citi® Secured).
- Immediate credit line flexibility without needing to deposit more.
🚀 How to Apply
- Visit Armed Forces Bank’s Credit Builder Secured Visa® Credit Card page.
- Complete the application online, providing your ID, SSN, address, and desired deposit.
- Open and fund your Credit Builder Savings Account with at least $300 (up to $3,000).
- Choose your preferred due date (1st or 16th).
- Use the card for small purchases monthly and pay the full statement on time.
- Monitor reports to credit bureaus and add more deposit incrementally to increase your limit.
- With maintained good use, you may be offered an unsecured upgrade—and your deposit returned.
🎯 Final Take
The Armed Forces Bank Credit Builder Secured Visa® is a solid, disciplined choice for anyone seeking credit restoration or establishment. With no annual fee, flexibility to increase credit, full bureau reporting, and a clear upgrade path—it’s a dependable tool for building financial foundations.
Apply today to take control of your credit future—starting with responsible use and smart financial habits. Request e‑Statements, make small on-time payments, and watch your credit grow steadily.
