Digital FCU secured credit card fee schedule

By CreditCards.com staff

2011 Credit Card Fee Survey
A year after the Credit CARD Act's major provisions went into effect, predictions of an onslaught of fees haven't come true. Main story: Credit card annual fees stable Secured cards build credit, for a price Find your card's fees

Applicants for these cards must deposit money into an account to secure their borrowing. When they use the secured card to make purchases, they are essentially borrowing and paying back their own money. Credit counselors advise secured card users to make small purchases and pay off the entire balance on time each month to avoid interest charges and to show they are good credit risks.

The survey of secured card offers was conducted in May 2011.

Here are the 2011 secured card fees for the Digital FCU secured card:

Digital FCU
APR(%)	11.5
Annual fee	None
Application fee	None
Minimum deposit	$500
Other fees, conditions	Credit Limit is equal to deposit (minimum $500; maximum is to be determined by loan officer). No other fees. Reports to all 3 credit bureaus. Secured deposit is refunded by closing account once the "hold" is lifted. Interest is paid at 0.05%.

See related: 2011 credit card fee survey, Secured cards' fees: Build credit, for a price, Chart: Find your card's fees, Compare low-rate credit cards

Published: May 31, 2011

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