US Bank Secured Visa Card Review – Forbes Advisor

Credit card secured by a US bank or Discover it®

When US Bank Secured fails to provide the benefits, the Discover it Secured credit card comes first. With 2% cash back at restaurants and gas stations on the first $ 1,000 of purchases each quarter, plus 1% cash back on all other purchases, Discover it Secured offers the kind of rewards you often only seen with unsecured cards. To sweeten the deal, Discover matches all cash back rewards earned at the end of a cardholder’s first year of membership.

With many of the same standard benefits, the Discover it Secured card offers more right away, so if approved for the Discover it Secured card, it will almost always be preferable to US Bank Secured. Its APR is still high at 22.99% variable, but so is the APR of most secured cards.

US Bank Secured vs Navy FCU nRewards® Secured Credit Card*

Navy Federal nRewards also offers an almost free option with an unlimited reward of 1 point per dollar, making it almost without a doubt a preferable choice over US Bank Secured. With no overseas transaction fees, no cash advance fees, no balance transfer fees, and no annual fees, this card achieves the quad-fecta of low-fee credit cards. It also offers a much lower APR than the Secure US Bank at a fixed 18% APR on purchases and balance transfers. Still high, but less than the other options.

For those who can qualify to join and who can be approved by Navy Federal, there is a clear choice here.

Credit card secured by a US bank or Bank of America with secure cash back*

With a similar annual fee and a slightly lower fixed APR of 23.99% on purchases and balance transfers, eIs the card right for you?The Bank of America Cash Back Secured card does not offer much difference compared to the US Bank Secured card except for a lower maximum credit limit of $ 100. For the most part, the choice can come down to a matter of convenience: What bank does a cardholder already have a relationship with?

Without any prior relationship, the only real benefit here is the lower APR. Otherwise, these cards are pretty much the same.

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