Secured credit card offered by Bank of the West should help you establish credit score. It doesn’t require a high credit score and reports how you use it to credit bureaus. The bank is also known as BNP Paribas, but very few people call it like this.
It is a MasterCard that has EMV chip for additional security and contactless payments feature. As all other credit cards it offers Zero liability for unauthorized transactions, identity theft resolution, and emergency card replacement.
Bank of the West secured credit card doesn’t have any cashback.
You can apply for the card in branch only. You can then activate it online and on Bank of the West mobile app. The card can be used to pay your bills, online purchases etc. You can also download statements from its website.
I believe you should avoid this secured credit card and here is why. You can find lots of better credit cards on the market and there is no reason to go with a bad one. Annual fee and no gradation should be enough to turn you away. In addition you cannot apply for the card online. You must visit bank’s branch and file application in person.
If you already have a checking account at Bank of the West it may seem reasonable to open credit card in the same bank. I believe you should close the checking account and open it in some other bank.
Fees
| Fee | Amount |
|---|---|
| Annual Fee | $25 |
| Balance transfer | $10 or 4% |
| Cash Advance | $10 or 4% |
| Foreign Transaction | 3% |
| Late Payment | up to $41 |
| Returned Payment | up to $41 |
Does Bank of the West credit card have annual fee?
Yes, this secured credit card charges you $25 fee annually. It is a bad sign for a credit card that you are supposed to keep for a long time to build your credit score.
What credit score do you need for the credit card?
You don’t need any credit history or you can be approved even with a very low credit score. Bank reports how you use the card to major credit bureaus. It mean that it should help you to build credit score.
What credit limit does the card give?
Your credit limit can range from $300 and up to $12,000. All you have to do is put the desired amount as a security deposit. Then you can payoff the card and close the account. Bank of the West should return you security deposit.
Bottom line
I don’t like this secured credit card at all. You can get better secured credit cards from Discover Bank or Capital One.