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PCB Secured Visa – How to apply
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Are you low on credit score or starting from scratch? PCB Secured Visa may be the card you need to organize your financial life.
It works like a regular credit card, but requires an initial deposit that serves as collateral, which facilitates approval for those with credit difficulties.
In addition, it helps build or rebuild your credit history with responsible use. Want to know how to apply for yours? Read on!
PCB Secured Visa is a guaranteed credit card, ideal for those looking to build or recover their credit history. To start using it, you need to make a security deposit, which can range from $100 to $1,000.
This deposit will be the limit of your card, that is, if you deposit $300, you will have $300 in credit available.
Once approved, you can use it to shop, pay bills and other day-to-day expenses like any other credit card. It is important to remember that paying the balance monthly is essential to avoid high interest and build a good credit score.
All your transactions and payments are reported to the three major US credit agencies (Equifax, Experian and TransUnion), which is a great benefit to improve your score over time.
The card does not offer rewards or bonuses, but it is an efficient tool for those who want to rebuild confidence in the financial market.
Main benefits for the PCB Secured Visa
PCB Secured Visa is ideal for those who want to rebuild credit or start a financial history. One of its greatest benefits is the acceptance of applicants with low scores or no credit history, which gives more chances to those who are normally refused on other cards.
Another positive point is the flexibility in the security deposit, which can be adjusted according to your financial possibilities, starting at only $100. This amount is refundable and acts as a guarantee for the card’s limit.
The card reports payments to major credit agencies, which helps improve your score over time as long as invoices are paid on time.
Although it does not offer rewards, its main advantage is to help build a solid and reliable financial foundation for the future.
Although it is useful for those who want to improve credit, the PCB Secured Visa has some negative points that should be considered. The annual fee of $39 is a fixed cost that is not present in some market options.
In addition, the interest rate (APR) of 18.9% is high, which can be problematic for those who cannot pay the full balance each month. Does not offer reward programs or cashback benefits, which can be a discouraging point for some users.
Another point to note is the international transaction fee of up to 1%, which makes the card unattractive for those who usually travel. Finally, the credit limit depends exclusively on the amount deposited.
APR and Fees
The PCB Secured Visa has costs that must be evaluated before applying. The card has a fixed interest rate (APR) of 18.9% for purchases, which means that if the balance is not paid in full, interest will be applied.
The annual fee of $39 should also be considered as it is automatically charged after card activation.
For international transactions, there is a 1% fee on each purchase made outside of the US. If payments are delayed, the card will charge up to $40 of fine as well as returned payments.
PCB Secured Visa does not charge initial fees for cash withdrawals, but from the second withdrawal there may be a charge of up to 5%. Although the costs are common for secured cards, it is essential to pay current invoices to avoid charges.
How to apply for the PCB Secured Visa
PCB Secured Visa is ideal for people with low credit scores, limited history or who are starting from scratch. It is also suitable for students or anyone who wants to create a credit history responsibly.
To apply, you need to provide basic information such as name, address, Social Security number (SSN) and proof of your income. You will also need to make an initial deposit, which ranges from $100 to $1,000, serving as a guarantee for the credit limit of the card.
The application can be made online, directly on the website of the issuer. During the process, you should review the terms and conditions, which include fees and APR. After approval, the card will be sent to your address.
With responsible use, PCB Secured Visa helps build a positive credit history and open doors for better financial opportunities in the future.
