For those ready to construct a solid financial future, the Armed Forces Bank Credit Builder Secured Visa Card offers a structured and reliable blueprint for success. While its name honors the military community, this card is proudly open to all U.S. citizens and permanent residents, providing a fantastic opportunity for anyone to build or rebuild their credit. It’s a tool designed with discipline and purpose at its core.
Get ready to feel the pride that comes with taking control of your credit journey. This isn’t just a credit card; it’s a secured program that helps you demonstrate your financial responsibility. By reporting your on-time payments to all three major credit bureaus and offering a potential path to an unsecured card, Armed Forces Bank provides a clear and supportive route to achieving your credit goals.
Your Toolkit for a Stronger Credit Profile
- Open to Everyone: Despite the name, you do not need any military affiliation to apply. This card is available to all qualified U.S. citizens and permanent residents.
- Powerful Credit Building: Your payment history is reported monthly to all three major credit bureaus—Experian, Equifax, and TransUnion. This is the most critical component for building a comprehensive and positive credit history.
- Potential to Graduate: With responsible use, you may be eligible to have your account reviewed for graduation to a traditional, unsecured credit card after just 12 months. This is a fantastic pathway to long-term credit health.
- You Control Your Credit Line: Your credit limit is equal to your refundable security deposit, which you can set from $300 up to $3,000. This puts you in control and ensures you start with a manageable limit.
- Interest-Bearing Savings Account: Your security deposit is held in an FDIC-insured Armed Forces Bank savings account where it will earn interest, so your money works for you while you build credit.
- Lower-Than-Average APR: Compared to many other credit-builder cards, this card features a more competitive variable APR (currently around 18.24%), which can save you money if you ever need to carry a small balance.
- Visa Zero Liability Protection: You are protected from unauthorized charges, so you can use your card with confidence for everyday purchases.
- Digital Wallet Compatibility: Easily add your card to your favorite digital wallets like Apple Pay, Google Pay, or Samsung Pay for secure and convenient mobile payments.
Who Can Apply
This card is designed to be highly accessible. You can apply if you:
- Are at least 18 years of age.
- Are a U.S. citizen or permanent resident with a valid U.S. address.
- Have a Social Security Number.
- Can provide a refundable security deposit of at least $300.
- Have a limited, poor, or even no credit history.
How to Apply
Getting started with the Armed Forces Bank Credit Builder Secured Visa is a simple, four-step process:
- Start Your Application Online: Visit the Armed Forces Bank website to begin the secure application.
- Review the Terms and Conditions: Carefully read the cardholder agreement, including the annual fee and interest rates.
- Receive Your Approval: Since this is a secured card, approval is highly likely once your identity is verified and you can provide the deposit.
- Fund Your Security Deposit: If approved, you will need to fund your security deposit. This amount will become your credit limit, and your card will be mailed to you.
Frequently Asked Questions
- Do I have to be in the military to get this card?
No, you do not. This is the most common misconception. Armed Forces Bank makes this card available to the general public, including all qualified U.S. citizens and permanent residents. - What are the fees for this card?
The Armed Forces Bank Credit Builder Secured Visa has no annual fee. - Can this card be upgraded to an unsecured card later?
Yes, and this is a key benefit. After 12 months of positive payment history and responsible use, Armed Forces Bank may review your account for graduation to an unsecured credit card. If you are upgraded, your security deposit will be fully refunded to you. - What happens to my security deposit?
Your security deposit is held in a U.S. Bank savings account that is FDIC-insured. It is fully refundable. It will be returned to you if you graduate to an unsecured card or if you decide to close your account while it is in good standing with a zero balance.
