VISA Secured Credit Card

A secured credit card means that you provide the funds in your Share Savings Account as collateral in case you don't make your payments. This means Best Reward FCU can offer a credit card to people with no credit or bad credit, who may not qualify for an unsecured credit card.

• While your secured credit card account is open, you do not have access to some or all of your savings funds.
• The amount of your savings used as collateral may determine your credit limit.
• If you don't make your payments, you will not get your collateral savings funds back.
• You can build your credit by making timely, monthly payments as your payment history makes up about 35% of your credit score.
• For best results, pay off your balance in full each month as this will improve your credit utilization rate, or debt-to-credit ratio, which determines about 30% of your credit score.

Building and repairing credit takes time. You may start to see results in about six months. Make sure you don't miss any credit card payments (or other loan payments) as that will set your credit back more than you will gain.

Good credit means you will be approved and get great rates for financing to achieve major life milestones, including:

• Auto loans and other vehicle loans
• Unsecured credit cards
• Personal loans and lines of credit
• Student loans
• Home loans, home equity loans, and home equity lines of credit (HELOC)

Best Reward FCU will offer you an annual percentage rate (APR) and credit limit based on your credit qualifications, including your credit score, repayment history, and debt-to-income (DTI) ratio.

The lowest rate offered for our secured card is the same as the lowest rate for our VISA Platinum Credit Card

You can help keep your credit card secure by signing up for VISA Credit Card Account Alerts. You can set custom alerts for transaction types and dollar amounts and you may change your preferences at any time.

You can choose to receive alerts for:

• Purchases over a selected amount
• International purchases
• Online and phone purchases where the card is not physically present
• Declined transactions

In addition, Verified by VISA protects you when you use your credit card for online transactions. Create your personal password to ensure that only you can use your credit card at participating online stores.

Let's start with the fees you don't need to pay:

• No Annual Fee
• No Penalty APR
• No Over-the-Limit Fee
• No Cash Advance Fee
• No Transaction Fee

There's a low foreign transaction fee of 1% of each transaction in U.S. dollars. There are also fees for late payments and returned payments to encourage you to maintain healthy financial habits.

Disclosure

Yes, you need to be a member to take advantage of our competitive rates and benefits. Membership eligibility is extended to anyone living or working, who attends school or worships in, and legal entities and businesses in the following Ohio counties:

• Cuyahoga
• Geauga
• Lake
• Medina
• Portage
• Summit

Immediate family members or household members of individuals meeting these requirements are also eligible, as are their surviving spouses, credit union employees, community volunteers, and their immediate family members and households.

An immediate family member is defined as:

• Spouse
• Child
• Sibling
• Parent/Grandparent
• Grandchild
• Stepparents, children, and siblings
• Adoptive relationships

We also offer membership to select employer groups. Learn more about membership eligibility here.

Once you’ve determined your eligibility, all you need to do to become a Best Reward FCU member is fill out our easy online application. After you've been approved, the next step is to open a Regular Share Savings account with us and maintain a $5 minimum balance.

Simply maintaining this low balance means you're eligible to take advantage of all of the Best Reward FCU products and services that we offer to our valued members! Membership is for life for you and your family, and doesn’t change if you move away, get a new job, or retire.

When you apply, you’ll need to provide certain proof of identification in the form of primary and secondary documentation.

• Examples of primary documentation include a driver’s license, state ID, or passport.
• Secondary documentation can include utility bills, your Social Security card, a school ID, or an insurance card.

You may be required to provide additional documentation, depending on the situation.