Platinum Zero® Secured Visa® Credit Card

[2NE1]

Does anyone have any experience with this CC?

• Secured Credit Card / Min Deposit of $500
• 0% FIXED APR on Purchases - This is NOT an Intro Rate!
• Your 0% Rate Won't Change - Even If You're Late!
• Credit Bureau Reporting

Membership Fees:

Annual  None

Monthly  $9.95

One-time Fees:

Account Set-up  None

Program Fee  None

[rootpooty]

Yeah no thanks on 120 dollars a year in fees just for having the card!

[LS2982]

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@rootpooty wrote:
Yeah no thanks on 120 dollars a year in fees just for having the card!

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+1

That's where they get you, so you can't even PIF and avoid interest, they gotcha automatically for it!

[Chaos122]

I had an account with them several years ago, exact same terms as above.  I only had the account for about a year then i canceled it.  Never had any issues with them, they charge 9 for the monthly fee which was ridiculous, but i prefered it to first premier, because premier charged 6 monthly fee plus about $200 in bogus upfront fees and 30% apr.  At least with these guys all you pay is the 9 a month, no interest, no set up fees or any of the other nonsense premier usually charges.

As soon as my credit was up and going i canceled the account, and about 3 weeks later they returned my deposit to the bank account i originally used to make the deposit.  No schemes no games.  I would reccomend you trying out a local credit union first, or one of the major bank secured cards so you can save some money on the monthly fees. I didnt have that option so i went with applied bank (plat zero) and they served their purpose.

Good luck to you

[Wolf3]

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@2NE1 wrote:

Does anyone have any experience with this CC?

• Secured Credit Card / Min Deposit of $500
• 0% FIXED APR on Purchases - This is NOT an Intro Rate!
• Your 0% Rate Won't Change - Even If You're Late!
• Credit Bureau Reporting

Membership Fees:

Annual  None

Monthly  $9.95

One-time Fees:

Account Set-up  None

Program Fee  None

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I think there is a case where this card makes sense. 

Assume you have very bad credit and are going to have to rebuild with high AF CC anyway.   This would be an ideal card to carry a large balance.   With very bad credit, Utilization will not matter for awhile, you just need positive history.   So you can open this card and charge up most of the balance and just pay the monthly fee, (no interest).   Eventually, you would pay down the balance and end up with good utilization and some positive history.    You can also open the card with a much larger deposit than you normally would since you would charge it back.  In essence you are building up the deposit over time by paying down the balance as you can.    You could also borrow the deposit from a trusted friend, family member and let them charge the card up to pay them back right away, then you pay it down as you can.   The higher the deposit the more this card makes sense the monthly fee does not change and there is no interest payment.   Or don't pay it back at all, close the card and the original deposit will cover the balance.   

In the end, you can have a positive history with a decent limt reporting.