U.S. Bank Harley-Davidson Visa Secured Card Review

Full Review of U.S. Bank Harley-Davidson Visa Secured Card

Pros Explained

• A way to build or rebuild credit: One of the advantages of a secured credit card, like the U.S. Bank Harley-Davidson Visa Secured card, is that it provides a way to build or rebuild your credit. If you can’t qualify for an unsecured card, having a secured card that reports to the major credit bureaus can help you improve your credit score and ultimately be eligible for an unsecured card. 
• Offers rewards: Most secured credit cards, like the Capital One Platinum Secured, will help you build credit with responsible use, but usually don’t allow you to earn rewards. The U.S. Bank Harley-Davidson Visa Secured card offers rewards, albeit only ones that can be redeemed for Harley-Davidson gear.
• Security deposit earns interest: While you’ll have to make a security deposit with the U.S. Bank Harley-Davidson Visa Secured card, you’ll earn interest on that deposit. As long as the issuer doesn’t have to dip into your account to cover unpaid bills when you move on from the card and receive your security deposit back, you will have earned interest.
• No annual fee: You don’t have to pay an annual fee with this credit card.

Cons Explained

• Rewards only good for Harley-Davidson gear: The U.S. Bank Harley-Davidson Visa Secured card only allows you to redeem rewards for Harley-Davidson purchases or gift cards. Unlike a few other secured cards that do offer rewards, there are no other redemption options, such as cash back. The only statement credits you can get are to cover Harley Davidson purchases.
• Charges foreign transaction fees: This card imposes foreign transaction fees. If you use it in another country, you’ll have to pay a fee of 2% on U.S. dollar transactions, and 3% on foreign currency transactions.

The U.S. Bank Harley-Davidson Visa Secured card is aimed at die-hard Harley lovers who need to build their credit and can’t qualify for a non-secured credit card due to limited credit history or bad credit. It has no annual fee, which makes it an affordable option, and pays rewards in Harley-Davidson gift cards. 

For those who want a secured credit card with more flexible rewards, the Discover it Secured might be a good choice. It also has no annual fee, but it offers valuable cash back rewards that you can use for anything.

U.S. Bank Harley-Davidson Visa Secured Card’s Bonus

There’s no one-time offer with the U.S. Bank Harley-Davidson Visa Secured card. However, each time you use this card, you’re entered in a sweepstakes to win a Harley-Davidson motorcycle. If you sign up for the H.O.G. membership program, you get two entries per purchase into the sweepstakes.

Rewards Earning Details

Earning rewards is fairly straightforward. For each dollar you spend on purchases using the U.S. Bank Harley-Davidson Visa Secured card, you get 1 point. 

Rewards Redemption Details

As mentioned above, the points you earn by using the U.S. Bank Harley-Davidson Visa Secured card can only be redeemed with Harley-Davidson. For every 2,500 points you earn, you get a $25 gift card. This makes points worth one cent each. Using Real Time Rewards, you can get automatic statement credits to cover Harley-Davidson purchases too.

Transferring Points

There is no way to transfer points you’ve earned with the U.S. Bank Harley-Davidson Visa Secured card. They can only be used at authorized Harley-Davidson stores and dealerships.

How to Maximize Your Rewards

The best way to maximize your rewards is to use this card for all your purchases. Once you have enough points, you can redeem them for Harley-Davidson gift cards that are good for gear and other items. In order to make the most of your points, it’s important to pay off the card in full each month. This will help you avoid paying interest. Otherwise, the interest charges you’d incur are likely to be more than the value of any rewards you’ll earn.

It’s also possible to maximize your overall rewards by using the U.S. Bank Harley-Davidson Visa Secured card in conjunction with another card. For example, the Discover it Secured card offers 2% cash back at gas stations and restaurants on your first $1,000 in purchases each quarter. Once you’ve reached that limit, you could use the U.S. Bank Harley-Davidson Visa Secured card for other expenses. Additionally, the Discover card’s rewards are more flexible, providing cash back, rather than gift cards. However, maintaining two security deposits might not be feasible for most secured card customers.

U.S. Bank Harley-Davidson Visa Secured Card’s Standard Benefits

• $0 fraud liability 
• Emergency cash and card replacement
• Auto rental collision damage waiver (secondary coverage)

Cardholder Experience

U.S. Bank is the issuer of this credit card. In the J.D. Power 2022 U.S. Credit Card Satisfaction Study, U.S. Bank received a score of 791, which was well below the average. In the study, U.S. Bank was ranked 9th out of 11 national card issuers.

This card also provides access to your VantageScore credit score, so you can monitor whether your score is improving. 

For convenience, you can manage your account using the U.S. Bank app, which is available for Android and iOS.

Security Features

If someone makes a fraudulent purchase with your U.S. Bank Harley-Davidson Visa Secured card, you won’t be on the hook, as Visa provides $0 liability for unauthorized purchases. Additionally, this card comes with chip technology designed to make your transactions more secure.

Final Verdict

If you’re looking for a credit card that can help you establish or rebuild your credit, and you can’t qualify for an unsecured card, the U.S. Bank Harley-Davidson Visa Secured card might be a good fit. This card doesn’t charge an annual fee, and it reports your payments to the major credit bureaus. Additionally, you can earn rewards with this card. However, you need to be a Harley-Davidson fan to take advantage of those rewards, since you can only redeem them for Harley-Davidson gift cards or cover Harley-Davidson purchases on your statement.

If you would rather have a secured card with more flexible rewards, the Discover it Secured, which pays cash-back rewards and also has no annual fee, might be a better choice.

Even though the Harley-Davidson Secured Card uses a security deposit as collateral, you're not guaranteed to be approved. U.S. Bank will still check your credit history by requesting your credit report.

You should allow 7-10 business days for U.S. Bank to make their credit approval decision. If you send your application by mail, you should allow for an additional couple of days for the bank to receive your application first. When you apply online, U.S. Bank receives your application immediately.