FAQs (data-driven)

Visa Share Secured Credit Card

• Can a Share Secured Credit Card help me rebuild my credit?

  Yes! By making payments on time and keeping the balance low, your credit score will increase.

• Can I qualify for the Share Secured Credit Card with limited or no credit history?

  Yes, you can. This card option is perfect for people needing to build or establish their credit.

• I don’t have a source of income. Can I qualify for the Share Secured Credit Card?

  No income verification is required for the Share Secured Credit Card.

• How does the Share Secured Credit Card work?

  The qualified limit for the credit card is based on funds held in the member’s account. The funds are held as collateral in the savings account for as long as the credit card is open. Once the card is paid off and closed, the funds will be released back to the member.

• Does the Share Secured Credit Card have monthly payments?

  Yes. The cardholder is required to make monthly payments on the balance of the credit card. A minimum payment of 2.5% or $25, whichever is greater is required each month when there is a balance. However, it is suggested to pay the card balance off in full each month, when possible, to avoid interest.