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UNITY Visa Secured Credit Card review

Written by Sept. 30, 2022 Sept. 30, 2022

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Snapshot

3.0 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon .

Credit-building benefits

With responsible use, cardholders can build their credit score with the UNITY Visa Secured Credit Card. This card reports to the , so making on-time payments and keeping your balances low can really give your score a boost.

Balance transfer benefits

The UNITY Visa Secured Credit Card has a relatively low intro APR period for balance transfers-a 9.95 percent fixed rate for six months from the date of the account opening (17.99 percent fixed-rate thereafter). Many secured credit cards don't offer any type of lower APR period for balance transfers, so if you want to make a balance transfer onto a secured credit card this could be a good option.

Option to use Speedpay

The UNITY Visa makes it easy to pay your bill with a service called Speedpay. This system takes one-time card payments online or over the phone so you never miss a payment date.

Rates and fees

The UNITY Visa Secured Credit Card has a $39 annual fee. The regular APR for purchases, balance transfers and cash advances is 17.99 percent, and it stays fixed through the expiration date of the card. The card's transaction fees for both balance transfers and cash advances are 3 percent of the amount of each transfer or $10, whichever's greater (maximum fee: $150). Foreign transaction fees are 3 percent of each transaction in U.S. dollars. The late payment penalty fee is up to $10 and the returned payment fee is up to $37. There are other fees associated with this card. It costs $35 for expedited card delivery and $10 for a replacement or additional card. There is also a $10 credit limit increase fee. With some secured credit cards, you might get considered and approved for a credit limit increase automatically, which could benefit your credit score. With this card, that's not an option.

How the UNITY Visa Secured Credit Card compares to other credit-building cards

When you're comparing cards for credit-building or , you may be better off with a different choice depending on your needs. The is another secured credit card but it comes with no annual fee. The max starting line of credit is considerably lower than the UNITY Visa Secured Credit Card at $200 but if you increase the amount of your security deposit (up to a credit limit of $1,000) within the first 35 days of approval, you'll automatically be considered for a higher line of credit in as few as six months with on-time monthly payments . There's no fee for this line of credit increase consideration, as opposed to the UNITY Visa secured credit card. However, there's no balance transfer intro APR with this card-it's a variable 28.49 percent APR, just like the purchase APR. Although it begins automatically reviewing your account to graduate you to an unsecured line after seven months instead of after the Capital One Secured's six months, the is one of the on the market. In fact, it won the best card for building credit crown in our for its unique 2 percent cash back at restaurants and gas stations (up to $1,000 in combined purchases per quarter, then 1 percent), unlimited 1 percent on all other purchases and stellar welcome offer. It delivers Discover's full Cashback Match for all rewards earned in your first 12 months, essentially doubling your first year's cash back. Its accessible $200 to $2,500 security deposit doesn't carry the highest potential credit limit on the market, but the card poses minimal fees, including no annual fee or foreign transaction fees and your first late payment fee is waived (up to $41 afterward). Granted, the UNITY Visa Secured's rates beat the Discover it Secured's six-month 10.99 percent intro balance transfer APR (3 percent intro balance transfer fee, 5 percent after the date listed on your application) and 25.99 percent APR (variable), but the Discover card is much more valuable considering its rewards potential and $0 annual fee.

UNITY® Visa Secured Credit Card

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. Annual fee Intro offer Intro offer is not available to this OneUnited credit card Rewards rate Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One Platinum Secured Credit Card

on Capital One's secure site Annual fee Intro offer Intro offer is not available to this Capital One credit card Rewards rate Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Discover it® Secured Credit Card

on Discover's secure site Annual fee Intro offer Intro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match. Rewards rate Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Earn unlimited 1% cash back on all other purchases – automatically. Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Best cards to pair with the UNITY Visa Secured Credit Card

As you're building credit, you don't want to get too many cards at once because that can negatively impact your credit score. If you choose to get the UNITY Visa Secured Credit Card for the intro balance transfer period, you might want to pair it with a or if you qualify. You could pair this with the Bank of America® Cash Back Secured credit card, for example, to get both cash rewards and balance transfer benefits from both cards.

Bankrate s take-Is the UNITY Visa secured credit card worth it

If you need a secured credit card and want one to make a balance transfer on it, you might consider the UNITY Visa Secured Credit Card. Though it doesn't provide any welcome offer or rewards, it can help you build your credit score if you use it responsibly. If you qualify for a card that offers something like cash back rewards or travel points, that may be a better choice. If you need a secured credit card but don't need to make a balance transfer, it might be better to look for a with no annual fee that gives you a chance to increase your line of credit without charging fees. The information about Bank of America® Cash Back Secured card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. * See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.