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The First Option
VisaŽ Card, issued by New
Millennium Bank, is a secured
card designed for people who
have no credit history or who
have had problems with credit in
the past.
This secured card establishes an
interest yielding collateral
savings account on behalf of the
cardholder. Each deposit is
funded by the cardholder and is
applied to the credit limit,
which can be as much as $5,000.
Currently, the savings account
earns an APR of 3% (6% for the
first three months, 2% for the
next nine months). Because the
savings account serves as
collateral for the secured card,
cardholders will not be able to
withdraw money from the account.
The card has a fixed APR for
both purchases and cash
advances. The interest rate is
considered high, even for a
secured card. There is a $59
annual fee, in addition to an
initial $99.95 processing fee
that will be drafted once the
cardholders identification is
verified. There are no monthly
activity fees for this card. If
you are not approved for this
card, the processing fee will be
refunded.
The First Option VisaŽ Card is a
great option for people who need
to establish credit history with
the three major credit bureaus
and who want to earn a generous
interest rate on their deposits
while doing so.
- Get a Full Privilege
Secured VisaŽ Credit Card
Account
- Get Approved for Up To
$5,000 in Secured Credit
with No Credit Check
- Guaranteed Approved
Regardless of Credit History
or Income
- Earn Interest on Your
Deposits
- FDIC Insured
Apply Now!
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