Farm Bureau Secured Visa® Credit Card: A Comprehensive Overview

The Farm Bureau Secured Visa® credit card is a unique offering that caters specifically to members of the Farm Bureau, providing an excellent option for individuals looking to establish or rebuild their credit. Issued by Farm Bureau Financial Services, this secured card is not just a tool for improving your credit score, but it also enables users to enjoy a range of practical benefits and features. In this detailed description, we will explore all aspects of this credit card, including its rewards program, fees, benefits, and more.

1. Card Type

The Farm Bureau Secured Visa® is a secured credit card. This means that it requires a cash collateral deposit which serves as your credit limit. It’s an ideal option for those who may not qualify for unsecured credit cards due to their credit history.

2. Annual Fee

One of the appealing aspects of the Farm Bureau Secured Visa® is its no annual fee structure. Users can enjoy the benefits of maintaining their credit without the burden of annual fees, making it a cost-effective choice for consumers.

3. Rewards Program

This credit card offers a straightforward rewards program where cardholders earn 1% cashback on every purchase. This rewards structure is uncomplicated and allows users to accumulate cashback that can be redeemed for statement credits, making it easier to manage finances while earning rewards.

4. Sign-Up Bonus

Upon approval, there is a welcome bonus for new cardholders: you can earn a $100 statement credit after spending $500 within the first 90 days of account opening. This provide a valuable incentive for users to use their new card.

5. APR (Annual Percentage Rate)

The Farm Bureau Secured Visa® carries a regular APR of 22.49%. However, for those who manage their credit effectively, the card allows you to establish a responsible credit history. An introductory 0% APR is not available with this card, which is standard for secured credit products.

6. Foreign Transaction Fees

Travelers will be pleased to know that the Farm Bureau Secured Visa® does not impose foreign transaction fees on international purchases. This feature makes it a great choice for those who travel abroad and want to avoid extra charges while using their card.

7. Balance Transfer Options

While secured cards typically do not encourage balance transfers, the Farm Bureau Secured Visa® does not currently offer any promotional balance transfer options or low introductory rates on these transactions.

8. Additional Fees

Cardholders should be aware of potential late fees which can be up to $39, along with a cash advance fee of either $10 or 3% of the amount of each cash advance, whichever is greater. Understanding these fees ensures you use the card responsibly.

9. Card Benefits and Perks

Despite its secured status, the Farm Bureau Secured Visa® includes various benefits and perks such as travel accident insurance, extended warranty protection, and 24/7 customer service. These features enhance the card’s value while fostering a sense of security during purchases.

10. Customer Protections and Insurance

This card offers robust customer protections, including fraud liability coverage which means cardholders are not held responsible for unauthorized transactions. Additionally, purchase protection covers eligible purchases against damage or theft for 90 days after purchase.

11. Eligibility and Credit Score Requirements

To qualify for the Farm Bureau Secured Visa®, applicants typically require a credit score of around 580 or higher. This makes it an accessible option for individuals looking to rebuild their credit while enjoying the benefits of a credit card.

12. Introductory Offers

Though there are no traditional introductory offers such as 0% APR on purchases or balance transfers, the card’s straightforward cashback rewards and lack of an annual fee add significant value for applicants.

13. Special Features or Unique Selling Points

One standout feature of the Farm Bureau Secured Visa® is its integration with the Farm Bureau membership, granting cardholders access to a community-centric program that offers additional resources and financial products tailored to agricultural professionals and their families.

14. How to Apply

Applying for the Farm Bureau Secured Visa® is straightforward. Interested individuals can UpCube.net or