The Bank of America Secured Visa® Platinum Card issued by Bank of America, is designed for those with limited or poor credit who may have had difficulty in obtaining a standard unsecured credit card.
There is an annual fee of $29, which is average for a secured card.
Although the APR applied to purchases is average for a secured card, this card does not charge an application fee or a transaction fee for purchases, which are favorable benefits.
Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide several benefits, including auto rental insurance, travel, and emergency assistance, and Total Security Protection®. Perhaps the best benefit is the option to receive convenience checks at no extra charge. The card also offers access to the Photo Expressions®.
Therefore, those who can afford to pay in full each month (to avoid finance charges) and can afford the $300 minimum deposit will benefit most from what the Bank of America Secured Visa® Platinum Card has to offer.
This review was updated 2008-06-10T00:00:00.0000000-07:00
