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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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DCU Visa® Platinum Secured Credit Card Review: Is It Worth It?

Updated on:
Content was accurate at the time of publication.
LendingTree's Review

How LendingTree Rates Credit Cards?

Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
3.8
DCU Visa® Platinum Secured Credit Card
Build Credit
Usage is reported to the three major consumer credit bureaus
Regular Purchase APR
16.75% (variable)
Annual Fee
$0
Editorial Note: shortenedCCEditorialNote

Our take: The DCU Visa® Platinum Secured Credit Card is an affordable option for building credit, with a $0 annual fee and low ongoing APR. But it requires a $500 security deposit and credit union membership. These roadblocks make it less desirable than other secured cards.

Pros and cons

  • Very low interest rate
  • $0 annual fee
  • $0 foreign transaction fee
  • Open to applicants with poor credit
  • High minimum security deposit
  • Credit union membership required
  • No rewards program

Is the DCU Visa® Platinum Secured Credit Card a good card?

The DCU Visa® Platinum Secured Credit Card is a solid card because it offers cardholders a way to build credit with minimal fees — including a $0 annual fee — and a low APR. The only fee is the late fee which can be avoided if you make your monthly payment on time.

However, a few downsides make it less enticing than other secured credit cards. One is that the card requires a much larger-than-usual minimal security deposit of $500. Another hurdle is that since the issuer, Digital Credit Union, is a credit union, you must become a member to apply for the card. That said, even if your employer isn’t a credit union partner, you can join an organization to become eligible for DCU membership.

Quick facts

    • APR as low as 16.75% variable
    • No annual fee
    • No balance transfer fee
    • No cash advance fee
    • No foreign transaction fee
  • Recommended Credit
    Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion
  • 300 600
    Poor
  • Reports to Equifax, Experian and TransUnion
  • Compatible with Apple Pay®, Google Pay™ and Samsung® Pay
  • Free FICO® Score access
  • Various Visa® perks and protections for shopping, entertainment and travel

Intro Purchase APR

N/A

Regular Purchase APR

16.75% (variable)

Intro BT APR

N/A

Regular BT APR

16.75% (variable)

Annual Fee

$0

Cash Advance Fee

$0

Foreign Transaction Fee

$0

Balance Transfer Fee

$0

What we like about the DCU Visa® Platinum Secured Credit Card

  • Accessible even if your credit isn't great

    Consumers who are looking to establish or improve their credit have a chance with the DCU Visa® Platinum Secured Credit Card. Applications are open to those with poor credit and with responsible use of the card, you can steadily build your credit score.

    Note that this is a secured credit card which means that once approved for the DCU Visa® Platinum Secured Credit Card, you’ll need to submit the minimum $500 security deposit. This serves as your credit line and when you close your account in good standing, you’ll receive the deposit back.

    Learn how to build credit with a credit card

  • Low APR

    Credit unions offer some of the lowest credit card APRs and the DCU Visa® Platinum Secured Credit Card is no exception. It has a low 16.75% (variable) APR, which is well below the average credit card interest rate of 24.71%. Remember that you don’t pay interest when you pay your balance in full each month; only if you carry some of the balance to the next month. However, this low rate is nice in case you do have to roll over a balance due to a financial emergency.

  • Very few fees

    The DCU Visa® Platinum Secured Credit Card has very few fees. That includes:

    • $0 annual fee
    • $0 foreign transaction fee
    • $0 balance transfer fee
    • $0 cash advance fee

    It does have a late payment fee of up to $35 per occurrence, which is comparable to other cards’ late fees.

  • Reports to the three credit bureaus

    When you’re trying to build credit, you want a card that reports to all three major credit bureaus: Experian, Equifax and TransUnion. This is important because, for example, when you take out an auto loan, you don’t know which credit report the lender will pull. If your credit card doesn’t report to all three, there’s a chance the lender won’t see the full picture of your credit history, and possibly deny the loan request. Your credit history is a factor in your credit score and having a good credit score is important for getting the best rates on loans.

What to watch out for with the DCU Visa® Platinum Secured Credit Card

  • You must be a DCU member

    There’s a bit of extra work involved if you want to get the DCU Visa® Platinum Secured Credit Card. You need to become a member of DCU and open a savings account first.

    That said, DCU makes it easy to join. You can become a member if:

    • You work for, or have retired from, one of their hundreds of partner employers.
    • You are a relative of a current DCU member.
    • You live, work, worship or attend school in an eligible community.
    • You belong to an eligible organization.
    The easiest, and most affordable way to open a DCU membership is joining Reach Out for Schools. Memberships start at $10. You can join a participating organization during your DCU membership application.
  • High security deposit

    The DCU Visa® Platinum Secured Credit Card‘s $500 deposit is higher than average. A typical minimum security deposit is around $200-$300, and it’s possible to get one lower than that. The Capital One Platinum Secured Credit Card, for example, requires a minimum deposit of $49, $99 or $200 which is determined after Capital One reviews your application.

    Depositing a larger amount isn’t necessarily a negative. It gives you a larger credit line for purchases and can also help you keep your credit utilization ratio low — a major factor in credit scoring. However, if you are cash-strapped and seeking the lowest deposit possible, you should check out other secured credit cards.

  • No rewards

    The DCU Visa® Platinum Secured Credit Card doesn’t earn rewards, but that’s not necessarily bad. When you’re building credit, you should focus on using your card responsibly. For some people, earning cash back could tempt them to overspend or carry a balance and pay more in interest than they earn in rewards. Fortunately, there are secured cards like the Discover it® Secured Credit Card that do offer rewards.

DCU Visa® Platinum Secured Credit Card vs. Discover it® Secured Credit Card

| Disclosures
Discover it® Secured Credit Card*
Discover it<sup>®</sup> Secured Credit Card
Learn More
N/A
27.74% Variable APR
$0
2% cash back at Gas Stations and Restaurants on up to $1,000
  • No credit score required to apply. No Annual Fee.
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • Raise your credit score by 30+ points.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Terms and conditions apply.
300 600
Limited / Poor
*The information related to the Discover it® Secured Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


The Discover it® Secured Credit Card is consistently a top choice for secured credit cards, It comes with a $0 annual fee, reasonable security deposit, low intro APR on purchases and a rewards program. You don’t need a credit score to apply, so even those with thin credit files or bad credit can apply. The card requires a minimum $200 security deposit but offers a path to upgrade to an unsecured card since Discover begins doing automatic monthly reviews of your account after seven months.

The Discover it® Secured Credit Card lets cardholders 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically However, be sure to pay your statement in full each month — the Discover it® Secured Credit Card charges a high APR on unpaid balances.

DCU Visa® Platinum Secured Credit Card vs. Capital One Platinum Secured Credit Card

| Disclosures
Capital One Platinum Secured Credit Card
Capital One Platinum Secured Credit Card
apply-now-icon Apply Now
on Capital One's secure site
Rates & Fees
N/A
29.99% (Variable)
$0
Non-rewards Card
  • No annual or hidden fees. See if you're approved in seconds
  • Building your credit? Using the Capital One Platinum Secured card responsibly could help
  • Put down a refundable security deposit starting at $49 to get a $200 initial credit line
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app
  • For Capital One products listed on this page, some of the above benefits are provided by third parties such as Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as certain terms, conditions, and exclusions apply
300 600
Limited / Poor

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


If putting down a $500 deposit for the DCU Visa® Platinum Secured Credit Card is too much, consider the Capital One Platinum Secured Credit Card. It offers some cardholders a deposit of as little as $49 for a $200 line of credit. Of course, not everyone qualifies for that; some people have to put down the full $200 to secure their credit line. Unfortunately, you won’t know if you’re approved for a lower amount until your application is approved.

You won’t earn rewards on your purchases. However, the annual fee is $0 so it won’t cost you anything besides the security deposit. You should aim to pay your balance in full each month as the card charges a 29.99% (Variable) APR on purchases.

DCU Visa® Platinum Secured Credit Card vs. OpenSky® Secured Visa® Credit Card

| Disclosures
OpenSky® Secured Visa® Credit Card
OpenSky® Secured Visa® Credit Card
apply-now-icon Apply Now
on Capital Bank, N.A.'s secure site
N/A
25.14% (variable)
$35
Earn up to 10% cash back* on everyday purchases
  • New feature! Earn up to 10% cash back* on everyday purchases
  • No credit check to apply. Zero credit risk to apply!
  • Looking to build or rebuild your credit? 2 out of 3 OpenSky cardholders increase their credit score by an average of 41 points in just 3 months
  • Get free monthly access to your FICO score in our mobile application
  • Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and TransUnion
  • Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
  • Fund your card with a low $200 refundable security deposit to get a $200 credit line
  • Apply in less than 5 minutes with our mobile first application
  • Choose the due date that fits your schedule with flexible payment dates
  • Fund your security deposit over 60 days with the option to make partial payments
  • Over 1.4 Million Cardholders Have Used OpenSky Secured Credit Card To Improve Their Credit
  • *See Rewards Terms and Conditions for more information
300 600
Poor

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


If bad credit is preventing you from opening a credit card, you may have a chance with the OpenSky® Secured Visa® Credit Card. It doesn’t require a credit check.

It comes with a $35 annual fee and requires a $200 minimum deposit. But it offers the opportunity to transition to an unsecured card; you may be eligible in as few as six months. The 25.14% (variable) is also lower than average for a secured credit card.

Is the DCU Visa® Platinum Secured Credit Card right for you?

The DCU Visa® Platinum Secured Credit Card may be a good fit for you if you’re looking for a secured card and already a member of the credit union. It’s an affordable option for building credit, since it comes with few fees and a very low APR.

If becoming a member of DCU isn’t something you want to do, there are plenty of other secured credit card options without membership requirements and smaller minimum deposits. You may even find a card that lets you earn rewards, like the Discover it® Secured Credit Card.

Not the right card for you?
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

For Capital One products listed on this page, some of the above benefits are provided by third parties such as Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as certain terms, conditions, and exclusions apply.

The information related to the DCU Visa® Platinum Secured Credit Card and Discover it® Secured Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.