US bank launches two secure credit cards
The U.S. bank on Tuesday October 12 launched two new secured credit cards, according to a CNBC report, giving consumers the option of getting a credit card without a high credit score.
The US Bank Altitude Go Visa Secured card and the US Bank Cash + Visa Secured card offer returns on every dollar spent by the cardholder after an initial deposit of $ 300 to $ 5,000, which serves as a spending limit and guarantee bank account to the cardholder.
The Visa Altitude Go secure card includes 4X points per dollar spent on meals, 2X points per dollar spent at grocery stores, gas stations and streaming services, and 1X points per dollar spent on all other qualifying purchases. Users can redeem points for travel, gift cards, cash back, and other purchases.
All cardholders are eligible for a $ 15 credit for annual streaming service purchases, and the card has no annual fees or overseas transaction fees, as well as the cardholder’s choice of date of payment. billing deadline.
The Cash + Visa Secured card is a cash back credit card that earns 5% cash back on the user’s first $ 2,000 of combined qualifying purchases each quarter in two categories, including television , Internet and streaming, home utilities, cell phone providers, fast food restaurants and movie theaters; 2% cash back on qualifying purchases in a category (including gas stations, grocery stores and restaurants); and 1% cash back on all other qualifying purchases.
Users can exchange money on the Cash + Visa Secured card in the form of statement credit; direct deposit to their US bank, savings or money market account; or a rewards card from the US bank. The card is free and users choose the due dates for their bills.
Related news: JPMC, BoA and other big banks pressed by soaring technology costs
Banking industry analysts expect financial institution profits to be helped by wealth management fees, a record number of transactions and credit card fees that had been postponed due to the COVID pandemic. 19.
Some banks, including JP Morgan, have closed branches and laid off staff, but banks are likely to see their costs rise more than their revenues as they pay more to their employees and invest in technology upgrades.