In-Depth Review of Cross Country Secured Visa Gold Credit Card
























Review of Cross Country Secured Visa Gold

The Cross Country Secured Visa Gold was last reviewed on : 1st January 2005

Summary - The Cross Country Secured Visa Gold Credit Card will extend a cardholder a credit limit from $200 to $1,000. The credit limit is based on 100% of a deposit with Cross Country Bank, which you will be paid an interest. The Cross Country Bank does not require an individual to summit any employment verification and income statements. Your credit activities will be reported to the 3 major credit agencies. In addition, you will also get free auto rental insurance.

The Cross Country Secured Visa Gold charges what they call a monthly maintanence fee of $10 (which is equivalent to an annual fee of $120). In addition, there is a one-time processing (origination fee) of $50.00. Hence, the total first year cost is $170.00. The APR is Prime Rate plus 15.74% but with a minimum rate of 23.99%, which is very high (even for this category of

credit cards). The default rate is also high at 29.99% (Prime Rate plus 21.74%, but minimum of 29.99%). There is also no grace period for purchases. Hence you will be charged an interest immediately after any purchase.

The Cross Country Secured Visa Gold credit card is card targeted at those who are looking to establish or reestablish their credit. The annual fee of $120 (payable monthly at $10/month) is very high. There is no grace period for purchases. In addition, the credit limit is quite low at $1,000 compared to other secured credit cards. Those looking at this category of credit cards will find other cards to have lower annual fees, lower APR and a higher credit limit.

Positives

* Does not require employment verification or imcome statement. * Free auto rental insurance

Negatives

* High annual fees
* One-time origination fee
* High APR (high minimum levels)
* No grace period for purchases


Cross Country Secured Visa Gold Credit Card
Credit Limits100% of bank deposit, $200-$1,000
Accounts earns interest
Credit Agency ReportingReports to 3 agencies
Card Benefits
24 hour online access to account
Free auto rental insuranceNo income verification
/td>
Cost/Fees/Interest rates
Annual Fees$120.00 (paid $10 monthly)
One time account origination fee of $50.00
One-time Processing Fees$50.00
Purchase APRPrime Rate plus 15.74% (min 23.99%)
Cash Advance APRPrime Rate plus 15.74% (min 23.99%)
Penalty/Default Rate APRPrime Rate plus 21.74% (min 29.99%)
Min Finance Charge$0.50
Grace PeriodNo grace period
Balance Calculation MethodAverage Daily Balance (including new purchses)
Convenience Checks fee5%, min $5.00
Cash Advance fee5% min $5.00
Over-the-credit-limit fee$32.00 or $35.00 if credit limit exceeds $1,000
Late Payment fee$32.00 or $35.00 if credit limit exceeds $1,000





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