Classic Secured Credit Card

Step

1

Apply Online

Use our simple, secure online portal to provide your details and select the Classic Credit Card.

Step

2

Get Pre-Approved

We'll review your application and, if approved, offer you a credit limit with our current fixed rate.

Step

3

Receive Your Card

Start using your card and making timely monthly payments to improve your credit gradually.

What are the benefits of a credit builder credit card?

Our Visa Classic Credit Card is ideal if:

• You’re beginning your financial journey and have not yet established a credit history. For example, this card serves well as a student credit card.
• You’ve made a few financial mistakes and now have a low credit score, so you need to repair your score. For example, you have a history of missed payments.

All Visa Credit Card applications require a credit check and a credit report review, but we offer this unsecured credit card regardless of your credit history. If you don't qualify, you can explore a secured card that lets you borrow against funds in your HCCU savings or certificate account.

Another advantage is that this is a fixed APR credit card with a low annual fee, so you can quickly achieve your financial goals. Your APR won't change even if the prime rate changes. Fixed-interest credit cards are beneficial when market rates are high.

How can I use the Classic Credit Card to repair or build my credit?

Five different factors determine your credit score, and it's a good idea to consider each aspect so you can take positive steps to build or rebuild your credit. That way, you can increase your approval odds, get lower credit card interest rates, and get a higher credit limit.

1. Timely Payment History = 35% of your score. Always pay your bills on time and, if possible, make your credit card payment before the due date. Aim to pay your balance in full, but if you carry a balance month to month, you need to pay at least the minimum amount due by the due date.

2. Amounts Owed = 30%. Also known as the credit utilization rate, this looks at how much of your total available credit you have used. To boost your score, try to use less than 30% of your credit card limit.

3. Length of Credit History = 15%. You build credit over time and your score will improve as you hold accounts open for longer. This is why it can be useful to keep an old credit card account open with a zero balance.

4. Credit Mix = 10%. To score well here, you need a healthy mix of credit types such as a credit card, personal loan, auto loan, or home loan. However, you don't want to apply for unnecessary loans just to boost your credit. It should evolve naturally as you continue on your financial journey.

5. New Credit = 10%. Your credit score will usually take a small, temporary hit when you apply for a new credit card and it's best not to apply for different types of credit cards and loans in a short time. However, it is generally okay to shop around and get pre–approved for the same type of credit within about two weeks.

Is it different from a prepaid card?

Yes—secured cards build credit and charge interest; prepaid cards don't affect your credit and simply withdraw from your preloaded funds.

Does the APR change over time?

No—since it's fixed, the interest rate stays the same even if the prime rate fluctuates.

Are there any fees beyond the annual fee?

Standard fees apply, including a 3% cash advance fee and up to 1% foreign transaction fee.