Tag: Secured Visa Platinum

Explore the KeyBank Secured Visa Platinum

If you are looking to rebuild your credit or establish a healthy credit history, the KeyBank Secured Visa Platinum could be your perfect financial companion. Issued by KeyBank, this secured credit card enables you to enjoy several benefits while minimizing your risks. Below, we will dive deep into the various features, fees, and advantages of the KeyBank Secured Visa Platinum.

Card Type

The KeyBank Secured Visa Platinum is classified as a secured credit card. This type of card requires a cash deposit that acts as your credit limit, making it an excellent choice for those who are looking to improve their credit score.

Annual Fee

One of the attractive features of the KeyBank Secured Visa Platinum is that it comes with a $0 annual fee. This makes it an economical choice for those who wish to manage their expenses efficiently.

Rewards Program

Unlike many traditional credit cards that offer cashback or travel rewards, the KeyBank Secured Visa Platinum focuses primarily on building credit rather than generating rewards. However, every responsible use of the card contributes positively to your credit score, which can pave the way for future credit opportunities.

Sign-Up Bonus

This card does not typically offer a sign-up bonus as found in many unsecured credit cards. However, securing the card does lay the foundation for better credit opportunities in the future if adequately managed.

APR (Annual Percentage Rate)

The regular APR for the KeyBank Secured Visa Platinum is competitive, standing at a variable APR of 22.99%. While there are no introductory APR offers, maintaining timely payments can help you avoid additional interest charges.

Foreign Transaction Fees

When traveling abroad, the last thing you want is unexpected costs. The KeyBank Secured Visa Platinum has a foreign transaction fee of 3% of each transaction made outside the U.S. It’s essential to consider this charge when using the card internationally.

Balance Transfer Options

Currently, the KeyBank Secured Visa Platinum does not provide any promotional balance transfer options or zero-interest introductory offers. If you are looking to consolidate debt with lower fees, you may need to explore other card options.

Additional Fees

While the card has no annual fee, be mindful of some other potential fees associated with its use. This includes:

• Late Payment Fee: Up to $37
• Cash Advance Fee: The greater of $5 or 3% of the transaction.

Card Benefits and Perks

Although this secured card does not come with extravagant perks frequently offered by premium credit cards, it has essential benefits, including:

• Fraud Liability Protection: Cardholders are protected against unauthorized charges.
• Monthly Reporting to Credit Bureaus: Responsible usage ensures better credit development.

Customer Protections and Insurance

The KeyBank Secured Visa Platinum offers various customer protections. These features include:

• Purchase Protection: Covers your purchases against theft or damage.
• Extended Warranty: Extends the manufacturer’s warranty for eligible purchases.

Eligibility and Credit Score Requirements

This secured credit card is aimed primarily at individuals looking to establish or rebuild their credit scores. A recommended credit score is typically below 620 for approval, making it suitable for a wide audience.

Introductory Offers

As this card does not typically feature introductory offers like 0% APR promotions, users are encouraged to focus on building credit history through consistent repayments instead.

Special Features or Unique Selling Points

The KeyBank Secured Visa Platinum stands out because it is specifically designed for those who might have credit challenges. Building your credit this way is a significant advantage, particularly compared to unsecured cards for applicants with limited credit history.

How to Apply

Applying for the KeyBank Secured Visa Platinum is straightforward. Interested individuals can apply ‘>Official Website or check out UpCube.net for further financial insights.