Advantages:
0% Interest For The First 6 Months: I was impressed with all the features of the Public Savings Bank Classic Secured Visa credit card. You actually get 0% APR on purchases during the first 6 months. You won’t find many other secured cards offering you that.
No Annual Fee: Unlike other secured credit cards for bad credit, This card has no annual fee and is perfect if you plan on maintaining a monthly balance.
No Income Requirements: They’ll approve you without any income requirements.
Grace Period: You have a 25 day grace period for new purchases. You won’t find that very often among secured cards on the market today.
Rebuilds Your Credit: This card can help boost your credit score by reporting payments to the three major credit bureaus.
Get The Same Benefits As a Normal Credit Card: This credit card for bad credit looks just like a normal credit card and you get the same features.
Disadvantages: The minimum billing charge each month is $10.
Public Savings Bank Classic Secured Visa Credit Card Advertised Features:
- 0% APR on purchases for 6 months
- No annual fee
- Your income, employment and credit are not factors!
- We report to all 3 major credit bureaus
- Lifetime credit lines up to $10,000
- 25 day grace period
- Use the card everywhere you see the visa/mastercard logo
*Find more secured credit cards. Click here for free articles tips on choosing a credit card for bad credit*
Summary of Important Terms & Conditions:
I’ve listed the key features credit experts advise you to study carefully. In an effort to provide you with the most accurate information, I update my website monthly. However banks update their terms and conditions periodically so for a comprehensive listing of the latest terms and conditions, click on the card image below.
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Annual % Rate: 0% for the first 6 months, then rate becomes 11.24% and vary with prime not to exceed 18%.
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Other APR: Starts at 10.99% for the first 6 months and never exceeds 18%
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Grace Period: 25 days for new purchases
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Deposit Requirement: Now the initial minimum deposit can be as low as $200 to as high as $1,000.
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Activation Fees: -0-
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Application Fees: $79 (one time)
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Processing Fees: -0-
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Reports to 3 Major Credit Bureaus: Yes
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Method of computing Balance for Purchases: Average Daily Balance (including new purchases)
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Minimum Finance Charge: $1
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Calculation of Finance Charge: Average Daily Balance
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Cash Advance Fee: $5 or 3.50% of the amount
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Balance Transfer Fee:
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Late Payment Fee: $20
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Over the Limit Fee: $20
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Returned Item Fee: $25
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Telephone Payment Fee: -0-
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Option to Convert to Unsecured Status: N/A
Whether you want to build AAA credit or just looking to fix your bad credit, I think you’ll find the Public Savings Bank Classic Secured Visa credit card a great choice among secured cards. You’ll get the benefits of a low cost secured credit card with a grace period and no annual fee. To apply now, click on the link below to get your own card.
Click Below To Apply
*Find more secured credit cards.
Click here for free articles tips on choosing a credit card for bad credit*
Recent Press Release Update: April 1, 2009
Public Savings Bank announced a low cost secured credit card
Public Savings Bank came out with a new Visa secured credit card designed for customers with bad credit. With this secured card, a customer would place money into an FDIC insured account to guarantee the card.
According to Bob Wexler, Executive Vice President of Public Savings Bank, this card allows customers to rebuild a positive history while getting all the benenfits of a normal Visa card. The bank claims they work hard to approve all applicants with most applications approved within a few hours.
A Customer can deposit anywhere between $300 and $25,000 into a FDIC-insured deposit account. This card works just like any other credit card where the customer can buy or take cash advances up to the established limit. Payments are reported to all 3 major credit bureaus thus establishing the credit history. The secured card offers zero percent interest on purchases for the first six months. Additionally, there is no annual fee for this card.
According to the bank, ”this is a great tool to get credit and establish a good history at the same time.”
Public Savings Bank Launches SBA Division
Aug.4,2009-Public Savings, provider of the Secured Black Visa Credit Card designed to help consumers rebuild bad credit, launced a SBA Division to service the needs of small business. With it’s program, Public can lend anywhere from $100,000 to $2,000,000. Interest rates are at Prime +2.75 which currently equals 6%. A small business owner can use the money to purchase a new building, refi their existing mortgage, purchase new equipment, refi their existing equipment for additional working capital.
About Public Savings Bank
Public Savings Bank was founded in 1928 and purchased by the current management group in 2006. The corporate office is located in Huntingdon Valley, Pennsylvania just outside of Philadelphia.
It operates on a national basis through leading technology by bringing the bank to the customer. They believe in giving people fast, easy, and convenient ways to manage their money, plus have it accessible 24 hours a day, every day of the year. They offer highly personalized attention, and a complete line of financial products and services including a credit card for bad credit such as the Secured Visa Black Credit Card.
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