Platinum Secured | SCU Credit Union

VISA® Platinum Secured

Starting or rebuilding your credit can feel overwhelming. That's where the Visa® Platinum Secured Card comes in.

Here's how it works: You simply deposit money into a share savings account. This deposit becomes your credit limit, giving you the flexibility to make purchases while building your credit.

Apply for Visa® Platinum Secured

Secured Credit Card

Build your credit with the Platinum Secured Credit Card!

Earn 2,500 bonus point for new accounts
Earn one point for every dollar spent, redeemable for merchandise, travel and more
Roadside Dispatch
Travel and Emergency Assistance Services
Worldwide Automatic Travel Accident and Baggage Delay Insurance
Purchase Security and Extended Protection

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Visa® Platinum Secured Card FAQs

How does the Visa® Platinum Secured credit card help build my credit score?

By using your Visa® Platinum Secured credit card responsibly and making on-time payments each month, your activity is reported to major credit bureaus. This activity helps build your credit history and can positively impact your credit score over time.
How do I transition to an unsecured credit card?

As you build a positive credit history with your Visa® Platinum Secured credit card, you may become eligible for an unsecured credit card from SCU Credit Union. This decision typically depends on your credit score improvement, consistent payments, and overall financial history.
Can I get my shared secure savings deposit back?

Yes, your deposit is refundable. Once you transition to an unsecured credit card or close your secured card account in good standing, your deposit will be refunded to you. Keeping your account in good standing involves making timely payments and adhering to the credit card’s terms.
What happens if I can't make a payment?

If you're unable to make a payment, your collateral may be used to cover what you owe. However, it's important to communicate with the us as soon as possible to explore potential solutions and avoid any long-term negative impacts on your credit score.
Can I use my secured credit card for everyday purchases?

Absolutely! Your Visa® Platinum Secured credit card can be used for everyday purchases like groceries, gas, and online shopping. The key is to ensure that any spending aligns with your budget and that you can pay off the balance in full each month to avoid interest.
How is my credit limit determined with a secured card?

The credit limit on a secured credit card is typically equal to the amount of the cash deposit you provide as collateral. For example, if you deposit $300, your credit line will be $300. This allows you to have control over your spending while demonstrating responsible credit use.
What is a secured credit card?

A secured credit card is a type of credit card that requires a cash deposit as collateral. This deposit acts as your credit limit and serves as a safety net for SCU Credit Union in case you're unable to make payments. It’s an accessible way for individuals with limited or poor credit histories to start building or improving their credit scores.