For those with poor credit or bad credit, who want to find a way to make some improvements to their credit core—and earn some great rewards at the same time, the Harley Davidson Visa Secured Credit Card might be the perfect solution. This card is offered through US Bank, and is actually the only card that they offer that has no annual fee. Check out some of the great benefits of this secured credit card!
Build Credit While Avoiding Additional Debt
Because this card is a secured credit card, you will have a low credit limit, probably equal to the amount you use for a security deposit. This helps to keep your spending in check, which means it should be easier to keep up with they payments. When you make your payments each month on time, your credit score will gradually improve.
This credit card reports to all three major credit bureaus, which helps keep your credit report accurate and up to date. While you do have to pay a security deposit, the security deposit will earn interest and, as long as you do not default on your payments, you will receive the security deposit back when you close the card (hopefully because you have been approved for an unsecured credit card).
No Annual Fee
As mentioned, the Harley Davidson Visa Secured Credit Card has no annual fee, making it a great choice for those looking for a low-cost credit card with perks.
Nice Rewards Program
Earn one point for every dollar that you spend using the Harley Davidson Visa Secured Credit Card. Once you build up enough points, you can redeem them for nice perks from Harley Davidson. For example, with 2,500 points, you earn a $25 gift card that is good for any Harley Davidson merchandise.
Upon approval for the Harley Davidson Visa Secured Credit Card, you will receive a gift certificate worth $10 toward Harley gear.
Easy to Fund the Account
Open your secured credit card account online, and fund the security deposit directly from your bank account. You can add money to the security deposit to increase your credit line.
Graduate to an Unsecured Credit Card
After 12 months of paying your secured credit card on time, you might be able to qualify for an unsecured credit card.
The Nitty Gritty
As we mentioned, the Harley Davidson Visa Secured Credit Card has no annual fee. The APR is 22.99%. There is a 3% balance transfer fee and 4% cash advance fee. Late payment fees are $35. There is zero fraud liability and solid fraud protection from US Bank. Auto rental collision damage waiver is automatic. Automatic bill pay is available, to help you avoid missing payments.
This is a great card for someone who has bad credit or no credit, and wants a card with no annual fees and perks. It is not a great card for someone who is not interested in Harley Davidson products or gear, since this is the only way to redeem the points.
Other Cards from U.S. Bank:
U.S. Bank Visa® Platinum Card
U.S. Bank FlexPerks Cash Rewards Visa®