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Secured Visa

A great way to build credit over time.

Call to Apply 1-800-621-2105

Secured Visa Purchases & Balance Transfers
Variable APR  12.99%
Balance Transfer Fee  3%

APR stands for Annual Percentage Rate. Subject to credit approval. Additional limitations, terms, and conditions apply. Rate effective March 1, 2021, and will vary with the market based on the Prime Rate as published in The Wall Street Journal. Terms & Conditions.

Secured Visa

Build or rebuild your credit with responsible use.


  • A secured credit card that allows you to build credit over time
  • Limited credit qualifications required
  • Standard variable APR of 12.99% for purchases and balance transfers; rate will never be over 18% variable APR
  • Low 3% balance transfer fee1
  • No annual fee


  • You deposit funds to an Elements account as a security deposit, which becomes the card’s credit limit
  • Use your credit card and make at least minimum payments on time to build your credit over time
  • Your payment and balance history will report to all three of the major credit bureaus


  • You want to build your credit
  • Trade-off: Requires an account deposit, which is held as collateral for your account

What is a secured credit card?

A secured credit card works like any other credit card except that it requires an initial account deposit — from $500 to $5,000 — which is held as collateral for your account. The amount you put in as collateral also sets the limit for this credit card account.

Making all of your payments on time and never carrying a balance across all of your cards greater than 30% of your total credit limit can maximize your credit score.

As with any other credit card, you're responsible for making at least your minimum monthly payments each month. Keep in mind that while using credit wisely can help you build your credit, making late payments, exceeding your credit limit, or your performance on other accounts can have a negative impact on your credit rating.

How is a secured card different from a prepaid card?

A secured card is a credit card. We report payment information to the three major credit bureaus — providing the opportunity to build your credit with responsible use. A secured card gives you a line of credit to make purchases. You can choose to pay off your balance in full each month or pay the minimum due. Missing payments may hurt your credit score.

A prepaid card is similar to a debit card. Since prepaid cards do not report to the major credit bureaus, they cannot help you build your credit.

Call to Apply 1-800-621-2105

What type of credit do I need to qualify for this card?

At Elements, our focus is always on your financial wellness. That’s why we are happy to have this option for persons who don’t currently have a good credit score. Because there is no credit score requirement, you can still qualify for this credit card, and it can be used to build or rebuild your credit score for the future.

Call to Apply 1-800-621-2105

Will my Secured Visa say "secured" on it?

No, your credit card will not say "secured" on it. It will look like a regular credit card and will be accepted anywhere Visa is accepted.

Call to Apply 1-800-621-2105

Will I get my initial deposit back?

Your initial deposit will be returned to you when the secured credit card is closed. Why would you close it? It could be closed once you have established or improved your credit score enough that you qualify for a different type of credit card. You might also just decide this credit card isn’t for you, and you can close it at that time. You might also have this credit card open for a long time if it takes a while to build your credit score. If there is a remaining initial deposit after your unpaid balance is paid, it would be returned to you when the card is closed.

There are two reasons the secured deposit would be used to pay the balance on the card:

  • Member does not make payments on the card for multiple consecutive months. In that case, the card would be closed, and the funds would pay down the balance. Any remaining funds after the balance is paid would go to a different Elements account the member has unless there are negative account balances or overdue loans.
  • Member is moving to another card product. The deposit can be used to pay the balance, and any remaining funds would go to an Elements account of the member’s choice.

What fees can I expect?

No Annual Fee1

The Secured Visa has no annual fee, meaning you do not have to pay anything other than your account balance plus incurred interest.

Balance Transfer Fee

If you open your Secured Visa with a balance transferred from other credit cards you already have, you will be charged a transfer fee of 3% of the amount transferred in. This amount will be added to your balance owed.

International Transaction Fees

If you travel internationally, you will be charged a fee of 1% of the charged amount for each international transaction. 

No Penalty APR/Pricing 

The Secured Visa does not apply a penalty APR, also known as penalty pricing. A penalty APR is an increased annual percentage rate that issuers may charge when a cardholder is late on payments. This can be put in place as soon as just one missed payment. A typical penalty APR is 29.99 percent, but it may be lower on some credit cards.

Late Payments

If you are late making a payment, you can be charged a late fee of up to $25.

What kind of fraud protection is included?

Chip Cards

Get big protection in a tiny chip. Elements credit cards have chip technology built right in. This tiny chip will protect your card's information in a big way. When you use your chip card at a chip-enabled terminal, the embedded chip generates a unique transaction code. This helps prevent stolen data from being fraudulently used. Plus, you're protected against unauthorized use with Visa's Zero Liability Fraud Protection.

Fraud Alerts

We offer near real-time fraud alerts for all Elements credit cards. With a quick text alert, you can help prevent fraudulent transactions from occurring on your cards. The service is free, and your card is automatically enrolled! How it works:

  • A text message will be sent to your mobile device when there is a suspicious transaction identified on your account. 
  • Simply reply to confirm whether or not you recognize the transaction(s).
  • If you let us know that you do not recognize the transaction(s), we will block usage of your card until we hear from you.
  • If you reply that you recognize the transaction(s), your card will remain available for use.
  • If we don’t receive a response from you for the text message, we will reach out to you through email and phone to verify the suspicious transaction.
  • If you would like to opt out of this service, just reply STOP to the text alert, or call us at 800-621-2105.

Transaction Alerts with Card Control

Card Control is a companion app to our Online Banking app that allows you to control when, where, and how your Elements credit and debit cards are used. Instantly turn them off and on, set controls on usage, and establish alerts for a variety of card activities. Learn more about Card Control.

Verified by Visa

Visa has developed a program that helps confirm your identity when you make an online purchase. This service helps make shopping online more secure by protecting against unauthorized use of your Visa card. There’s no need to download anything, install software or register. During an online purchase from your desktop, mobile or other digital device, you may be guided through an extra check to verify your identity. This helps Elements know you’re really you and most importantly it protects you from fraud.

Why should I choose Elements for a credit card?

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves in being a trusted source for financial education. Your financial wellness expert will come to your workplace to answer questions and provide you with 1-on-1 assistance as you navigate the changes that come with each of life's stages.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 3% of credit unions nationally2. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

Call to Apply 1-800-621-2105

How do I apply for a card?

Call 1-800-621-2105 to talk to a financial expert about how to build your credit with a Secured Visa®. Our team will help you apply over the phone and answer any questions you may have.

Read more frequently asked questions about credit cards…

How can I activate my credit card?

To activate your credit card, call 1-888-691-8661.

How do I make a credit card payment?

You can make your Elements credit card payments in several convenient ways. Call us with questions at 1-800-621-2105.

Pay your Elements credit card within online banking or the mobile app. 

  • Log in, go to the Loans & Credit Cards menu and choose Manage Visa Card, or click your credit card account tile in your list of accounts. 
  • You can make a one-time or recurring payment from your Elements account or other bank or credit union account.
  • You can also set up automatic payments to be paid each month to avoid missing your payment and a possible late fee.

Mail a credit card payment. Make your check payable to:
Elements Financial FCU
PO Box 37035
Boone, IA 50037-0035

What do I do if my card is lost or stolen?

To report your credit card lost or stolen, please use Live Chat or call us toll-free at 1-866-570-1238.

I’m planning to travel and don’t want my purchases to be declined. How can I prevent that?

We understand that can be a frustrating experience! Elements offers 24/7 fraud monitoring on credit and debit cards. In order to ensure transactions you perform while traveling do not falsely trigger any fraud detection services, we recommend you advise us of your travel plans in advance. Call us toll-free in advance of your trip to inform us of any debit or credit card you will be using abroad at 1-800-621-2105.

How Long Will it Take to Pay Off My Credit Card?

Credit Card Payoff Calculator


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  1. 1 Secured Visa Credit Card Transaction Fees — Credit Card Balance Transfer: 3% or a minimum of $5.00. Credit Card Cash Advance: Up to 3% for each Cash Advance or a minimum of $5.00. Credit Card Foreign Transaction: 1% of each Foreign Transaction in U.S. dollars.
  2. 2 Based on asset size as of 1/31/2020