The Secured Visa Credit Card is not one of our top-rated balance transfer credit cards. You can review our list of the best balance transfer credit cards for what we think are better options.
Full Review of Secured Visa Credit Card
Low ongoing APR
No interest-free period for purchases
Limited availability
Pros Explained
- Low Ongoing APR: The ongoing APR on this card is low compared to other balance transfer cards. Once the 0% introductory period expires, you'll be charged up to 20.49%, depending on creditworthiness. If your credit is solid enough to qualify for the low end of that range, you'll have one of the lowest APRs on purchases available.
Cons Explained
- No Interest-Free Period for Purchases: Even though the Secured Visa Credit Card has a low ongoing APR for balance transfers, its lack of an interest-free period for purchases puts this card at a disadvantage. Several balance transfer cards on the market offer a 0% introductory period for purchases in addition to balance transfers.
- Limited Availability: You don’t have to be a First National Bank of Omaha customer to apply for this card, but it's only available in select states—Nebraska, Colorado, Illinois, Iowa, Kansas, Missouri, South Dakota, Texas, Wisconsin, and Wyoming.
This Card is Best For
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Resists or refuses an annual fee on principle or due to cost
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Tends to pay less than balance in full and so accumulates debt on card
The Secured Visa Credit Card card is most appealing for those who live in one of the states where it's available. This card also is suited to those who aren't concerned with earning cash back or points, since it doesn’t offer rewards.
Secured Visa Credit Card One-Time Offer
The Secured Visa Credit Card does not offer a welcome bonus at this time.
Several cards on the market have more lucrative bonus offers, albeit with higher spending requirements. For example, the Bank of America Cash Rewards credit card comes with a 15-month, 0% introductory period for balance transfers and offers a $200 bonus after making at least $1,000 in purchases within the first 90 days of opening an account.
Standard Benefits
- Fraud protection
- Free FICO score
- Zero liability for fraudulent charges
- Chip-enabled technology
Cardholder Experience
First National Bank of Omaha ranked among the best banks in the Lower Midwest in J.D. Power's 2021 U.S. Retail Banking Satisfaction Study. Its score of 826 was fourth overall in the region and 11 points better than the Region average.
Cardholders can get in touch with the customer service department by calling 888-530-3626, visiting a local branch, or sending a secure email through their account. Customers can also Tweet questions and comments to @FNBO on Twitter.
Security Features
This card has several built-in security features standard in the industry. Cardholders get 24/7 fraud protection, fraud alerts, chip-enhanced technology, and zero-fraud liability. It also provides a free FICO score each month.
Fees to Watch out For
This card has a balance transfer fee of $10 or 5% of the amount of each transfer. Balance transfer fees are typical, but this card’s fee is higher than others. All other fees on this card are in line with industry standards.
Our Verdict
The Secured Visa Credit Card's limited availability puts it at a disadvantage to competing cards.
If you won't qualify for this card because of where you live, you may want to consider a card with broader availability. The Citi Simplicity card, for example, has an 18-month 0% introductory period and is available to applicants throughout the United States.
You also may consider a balance transfer card that allows you to earn rewards. The Citi Double Cash card, for example, offers an 18-month 0% APR introductory period and a compelling cash back offer—1% cash back when you make the purchase and another 1% cash back when you pay it off.