Bank of America Secured Visa® Platinum Card
Overall Rating |
Benefit Rating |
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- Credit Lines Available From $300 to $10,000
- Set Your Own Credit Limit
- Build or Reestablish Your Credit
- Additional Details & Information
- Card issued by FIA Card Services, N.A.
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APR |
Annual Fees |
Credit Type |
16.99% |
$29 |
Fair (650-700 FICO credit score)
Bad (600-650 FICO credit score)
Very Bad (300-600 FICO credit score)
No credit
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The Bank of America Secured Visa® Platinum Card issued by Bank of America, is designed for those with limited or poor credit who may have difficulty in obtaining a standard unsecured credit card.
There is an annual fee of $29, which is average for a secured card.
Although the APR applied to purchases is average for a secured card, the Bank of America Secured Visa® Platinum Card does not charge an application fee or a transaction fee for purchases, which are favorable benefits.
Most often, secured credit cards do not have any additional perks or benefits; however, the Bank of America Secured Visa® Platinum Card does provide several benefits, including auto rental insurance, travel and emergency assistance, and Total Security Protection®. Perhaps the best benefit is the option to receive convenience checks at no extra charge. The card also offers access to the Photo Expressions®.
Therefore, those who can afford to pay in full each month (to avoid finance charges) and can afford the $300 minimum deposit will benefit most from what the Bank of America Secured Visa® Platinum Card has to offer.
Review Date: 2/15/2008
Most Attractive Feature(s): No application fee; low minimum deposit required; low introductory offer.
Least Attractive Feature(s): Annual fee.
Additional Perks
Various Internet account related services.
No liability for unauthorized transactions.
Various travel and emergency assistant services.
Auto rental insurance.
Purchase replacement.
Purchase protection.
Access to Photo Expressions®.
See website for additional benefits.
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