Credit Cards Credit Card Reviews

U.S. Bank Secured Visa Card Review

overall rating
2.1

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The U.S. Bank Secured Visa card is aimed at those looking to establish or build credit. The security deposit is kept in an interest-bearing savings account, and credit tools help cardholders track their progress.

U.S. Bank Secured Visa® Card

overall rating
2.1
U.S. Bank Secured Visa® Card
On U.S. Bank's Secured Site.
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Fair - Excellent
Regular APR (%) 18.99% variable
Annual Fee $29
Minimum Deposit to Activate $300
Pay deposit in installments No
Allows upgrade to unsecured card Yes
Rewards Earning Rate This card does not offer a rewards program.
how this card stacks up
When compared among all secured cards in our database:
Secured Features
Security/Customer Experience
Low Interest
Rewards
Benefits
worst best

The U.S. Bank Secured Visa® Card is not one of our top rated secured credit cards. You can review our list of the best secured credit cards for what we think are better options.

Full Review of U.S. Bank Secured Visa Card

Pros
  • Security deposit placed in interest-bearing account

  • Maximum credit line of $5,000

  • Free credit score

Cons
  • Annual fee

  • No rewards program

  • Credit line tied directly to the security deposit

Pros Explained

  • Security Deposit Placed in Interest-Bearing Account: The security deposits for the U.S. Bank Secured Visa is deposited in an interest-bearing account at U.S. Bank and will receive yield as long as your credit card is open. It’s important to note that this money is kept as a security deposit and not used for payments. You get your security deposit back after you close your account, as long as there aren’t unresolved charges. 
  • Maximum Credit Line of $5,000: The U.S. Bank Secured Visa has a relatively high maximum credit line of $5,000 for a secured credit card. But you’ll have to make a $5,000 security deposit to get that matching credit line.
  • Free Credit Score: The U.S. Bank Secured Visa comes with free access to your TransUnion credit score. This benefit can help cardholders track their progress as they build or establish credit.

Cons Explained

  • Annual Fee: This card’s $29 annual fee is low, but other secured cards, including the Capital One Secured Mastercard and the Discover it Secured card, have no annual fee.
  • No Rewards Program: While you can rebuild your credit with this card, you won’t earn any rewards in the process. The Discover it Secured card, on the other hand, offers cash back and has no annual fee.
  • Credit Line Tied Directly to the Security Deposit: Your credit line for the U.S. Bank Secured Visa is directly tied to the amount you put down for the security deposit. While this isn’t unusual, there are secured credit cards that don’t require a dollar-for-dollar security deposit to establish the credit line. For example, the Capital One Secured Mastercard allows qualified applicants the option to establish a $200 credit line with a security deposit of $49, or get up to $1,000 as a credit line with a deposit of $200 over time, with responsible use.

This Card is Best For

  • Avatar for Credit Builder Persona
    Motivated to create positive credit history
    Credit Builder

The U.S. Bank Secured Visa card is likely to work well for someone who wants a higher credit line as they work to build their credit. If you have a large amount of cash that you can use as a security deposit, you can get a much higher credit line than you might typically get with other secured cards.

Additionally, tools like auto pay and access to your TransUnion credit score will help you stay on track. 

This card may also be attractive to those who haven’t been able to qualify for an unsecured card. However, if you’re hoping to earn rewards while building credit, the Discover it Secured card might be a better choice.

U.S. Bank Secured Visa Card’s Outstanding Benefits

  • Secondary rental car collision damage waiver

Standard Benefits

  • Travel and emergency assistance
  • Extended warranty protection

Cardholder Experience

The U.S. Bank Secured Visa’s issuer has a below-average ranking in the J.D. Power 2019 Credit Card Satisfaction Study. U.S. Bank received a rating of 785 out of 1,000, while the national average for all credit card issuers was 806.

The U.S. Bank Secured Visa mobile app offers 24/7 account access and receives 4.6 out of 5 stars on Google Play for Android systems and 4.8 stars out of 5 in the Apple App Store. You can also contact customer service by sending an email through your account or calling 800-285-8585.

Security Features

This card has fraud detection. U.S. Bank will alert you of unusual card activity, and you won’t be liable for fraudulent purchases.

You’ll also have free access to your TransUnion credit score.

Our Verdict

If you can’t get approved for an unsecured credit card, a secured credit card mayhelp you build or establish your credit. The U.S. Bank Secured Visa is a fairly basic card. If you have the ability to fund a large deposit you can establish a higher credit line than typically available with a secured card. As a bonus, your security deposit will be kept in an interest-bearing account.

However, if you’re looking for a secured credit card without an annual fee, the Capital One Secured Mastercard or Discover it Secured card might be a better fit. The Discover it Secured card also provides a cash back rewards program.

Apply Now
For U.S. Bank Secured Visa® Card
on U.S. Bank's Secured Site.
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CURRENT CARD
U.S. Bank Secured Visa® Card
overall rating
2.1
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Fair - Excellent
Regular APR (%) 18.99% variable
Annual Fee $29
Minimum Deposit to Activate $300
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.