Regions bank had officially offering a secured credit card service in all their branches. The offering is aimed to those who want to have a credit card but cannot qualify the traditional one. The cause of the disqualification may vary but mostly are because of a bad credit history. Regions secured credit card stands as a help for you to build or rebuild your credit history.
Regions Financial Institute calls the credit card as the Regions Explore Visa Credit Card. Head of Regions Retail Products and Payments, Rajive Chadda, stated on a press release that the new card is their product expansion to fulfill market need of a high quality secured credit card. Those who cannot pass the requirement to get the traditional credit card will be definitely welcomed by the Regions secured credit card service.
Secured credit card from Region has similar function with the unsecured credit cards. The card holders are allowed to do transaction using the card and they will receive statement from each purchase. Then the payment must be done on the purchase made using the credit line. Regions secured credit card also require their card holders to make a cash deposit. The minimum amount allowed is $250. The cash deposit will be linked into your Regions account and the amount will be your credit card limit.
Why Choose Regions as you Secured Credit Service?
Regions Financial Corporation is one of the largest financial full-service providers of consumer and commercial banking across the South, Midwest and Texas. It has approximately $125 billion in assets and listed as a member of the S&P 500 Index.
As a massive bank and financial company, Regions have a commitment to keep your monetary matters save. They believe that to earn customer loyalty, they have to offer a high quality service and help those who are in need to improve their financial health. Regions have already offered many types of services for their customer such as small dollar loans, and prepaid cards. Later on, Regions secured credit card emerges as one of their way to prove their commitment.
The new secured card applies an annual fee for around $29 and the annual percentage rate (APR) of 23.7%. However, the annual fee and APR can change due to many factors. The annual fee can be between zero up to $39 and the APR ranges between 9% and 25%. But still, Regions secured credit card offers a convenient service with a fairly affordable price. Moreover, Regions does not charge any kind of legal foreign transaction.
In addition, Regions are also fully aware for their customer’s financial security. Therefore, in their new secured credit service, they use chip-enabled technology. The chip technology is a new global standard and it gives you a high protection level for your bank account and Region secured credit card.
If you are interested in making a Region secured credit card, make sure you go to the nearest Region branch that is spread across the nation. Don’t worry, the customer service here will help you figuring out everything you need to achieve desired financial plan.