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The Bank of America Secured Visa® Card issued by Bank of America, is designed for those with limited or poor credit who may have had difficulty in obtaining a standard unsecured credit card.

There is an annual fee of $29, which is average for a secured card. Although the APR applied to purchases is reasonably low for a secured card, this card does not charge an application fee or a transaction fee for purchases, which are favorable benefits.

Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide several benefits, including auto rental insurance, travel, and emergency assistance, and Total Security Protection®. it also has the option to receive convenience checks at no extra charge. Perhaps the best benefit is the 0% introductory rate for balance transfers, cash advances, and direct deposits. The card also offers access to the Photo Expressions®.

Therefore, those who can afford to pay in full each month (to avoid finance charges) and can afford the $300 minimum deposit will benefit most from what the Bank of America Secured Visa® Card has to offer.

Type of card: Personal

Introductory apr rate description: 0% APR for 12 Billing Cycles

Fee: $29.00

Best: No application fee; low minimum deposit required.

Worst: Annual fee.

Perks: Various Internet account related services. No liability for unauthorized transactions. Various travel and emergency assistant services. Auto rental insurance. Purchase replacement. Purchase protection. Access to Photo Expressions®. See website for additional benefits.

Notations: Cardholders may qualify for an unsecured card at a later date, based on credit and payment history. See website for complete terms and conditions of card usage and application disclosure.

Additional description:

• Credit Lines Available From $300 to $10,000
• Set Your Own Credit Limit
• Build or Reestablish Your Credit
• Additional Details & Information
• Card issued by FIA Card Services, N.A.