How to Apply to UNITY Visa Secured Credit Card

The OneUnited Unity Visa Credit Card is a secured credit card designed to help individuals build or rebuild their credit history. It is accepted at all Visa credit card locations and has a FDIC insured security deposit equal to the credit limit. The card has a fixed interest rate and no application fee or penalty rate. It also includes a self-guided “How to Rebuild Credit Program” for effective credit management and debt handling. OneUnited Bank, the nation’s largest Black-owned bank, focuses on empowering customers financially and serving underserved communities. The Unity Visa Credit Card is part of their mission to use Black spending power to positively impact communities.

Benefits of the UNITY Visa Secured Credit Card

The OneUnited Unity Visa Credit Card offers a range of benefits designed to support individuals in managing their finances, particularly those focused on building or rebuilding their credit. These benefits align with OneUnited Bank’s mission of financial empowerment and community support. Below is a detailed look at some of the top key benefits of this credit card:

Credit Building and Rebuilding

One of the primary benefits of the Unity Visa Credit Card is its ability to assist users in building or rebuilding their credit history. By reporting to all three major credit bureaus—Experian, TransUnion, and Equifax—the card allows for the development of a credit profile through regular, responsible use. This feature is particularly valuable for individuals who are new to credit or looking to improve their credit score after past financial difficulties.

Accepted Globally

As a Visa credit card, the Unity Visa is accepted worldwide, offering the convenience and flexibility of use in a vast array of locations. This global acceptance makes it a practical option for everyday purchases, travel, and online transactions, providing users with the reliability and recognition of the Visa network.

Fixed Interest Rate

The Unity Visa Credit Card offers a fixed interest rate, which means that the rate does not fluctuate with changes in the market. This can provide a sense of financial stability and predictability for cardholders, as they can expect consistent rate charges over time, unlike variable-rate cards that can change periodically.

Educational Resources

The cardholders have access to OneUnited Bank’s “How to Rebuild Credit Program.” This self-guided educational resource provides valuable information and tips on credit management, helping users understand how to use their credit card effectively to build a healthy credit score and manage debt.

FDIC Insured Security Deposit

The security deposit required for the Unity Visa Credit Card is FDIC insured, ensuring the safety and protection of the funds deposited. This deposit, which determines the card’s credit limit, provides a safety net for both the cardholder and the issuing bank, minimizing the risk associated with credit lending.

No Application Fee or Penalty Rate

The Unity Visa Credit Card does not charge an application fee, making it more accessible for those looking to open a new account. Additionally, the card does not have a penalty rate, which means that cardholders will not face increased interest rates for late payments. This can be particularly beneficial for those who are still learning to manage their credit or who may occasionally miss a payment due date.

The combination of these benefits makes the OneUnited Unity Visa Credit Card a practical tool for individuals looking to establish or improve their credit, while also enjoying the convenience and security that comes with a widely accepted credit card.

Prerequisites to Obtain the UNITY Visa Secured Credit Card

To be able to request this card, you will need to:

• Be at least 18 years of age
• Be a citizen or permanent resident of the United States of America (SSN / passport / driving license / green card or other accepted forms of Identification)
• Provide your personal Info (name / address / email / phone number etc.)
• Provide your income information and detailed documentation (latest payslips, bank statements etc.)
• Provide the details of your security deposit

CLICK HERE TO ACCESS THE OFFICIAL ONEUNITED WEBSITE

About OneUnited Bank

OneUnited Bank, America’s largest Black-owned bank, began in 1968 as Unity Bank & Trust Company in Boston, Massachusetts. It aimed to revitalize local areas by lending to businesses and homeowners. In the mid-1990s, the bank underwent a significant transformation, acquiring African American-owned banks and thrift institutions in major metropolitan areas. One notable acquisition was Peoples National Bank of Commerce in South Florida, making Boston Bank of Commerce the first interstate African American-owned bank in the country.

In the early 2000s, the bank merged with Founders National Bank of Los Angeles, involving prominent figures such as Earvin “Magic” Johnson, Janet Jackson, and former Motown Records President Jheryl Busby. This merger led to the rebranding of Boston Bank of Commerce as OneUnited Bank.

OneUnited Bank is distinguished by its focus on community development and financial literacy. As a designated Community Development Financial Institution (CDFI), it serves low to moderate-income communities and offers workshops and events to increase financial literacy. It has also made significant efforts in digital banking, being the first Black internet bank and offering products like the UNITY Visa® Secured Card, second-chance checking accounts, and savings accounts.

Who is the UNITY Visa Secured Credit Card for?

The OneUnited Unity Visa Credit Card is primarily aimed at individuals who are seeking to build or rebuild their credit history. This card is particularly suited for those who may not have a high credit score or extensive credit history, as it requires no minimum credit score for application. Additionally, it serves as a valuable tool for people who are interested in financial education and empowerment, offering resources and programs for improving financial literacy and credit management. The Unity Visa Credit Card is thus ideal for consumers who are in the early stages of their financial journey or those looking to recover from past financial setbacks and improve their credit standing.

Step by Step to Apply for the UNITY Visa Secured Credit Card

To apply for the OneUnited Unity Visa Credit Card, follow these steps:

1. Visit the official OneUnited Unity Visa Credit Card application page at OneUnited Unity Visa.
2. Complete the online application form by providing your personal and financial information as requested.
3. Submit the necessary identification documents as required by the bank.
4. Determine your desired credit limit and make the corresponding security deposit. The deposit amount will equal your credit limit and is FDIC insured.
5. Review and agree to the terms and conditions of the card.
6. Submit your application for review and approval by the bank.

APPLY TO UNITY VISA SECURED CREDIT CARD HERE

Positives and Negatives of the UNITY Visa Secured Credit Card

Positives:

Credit Building: Reports to all three major credit bureaus, aiding in building or rebuilding credit history.

Global Acceptance: As a Visa card, it’s accepted worldwide, offering broad utility for purchases.

Fixed Interest Rate: Provides predictability in finance charges, avoiding the uncertainties of variable rates.

Educational Resources: Access to the “How to Rebuild Credit Program,” beneficial for financial learning and credit management.

No Application Fee: Makes it more accessible for individuals to apply.

FDIC Insured Security Deposit: Ensures the safety of the deposit, which sets the credit limit.

Negatives:

Annual Fee: The card has a $39 annual fee, which is an added expense for cardholders.

Limited Physical Branches: Mainly operates in major cities (Los Angeles, Miami, Boston), which might limit in-person service for some users.

High Ongoing APR: The interest rate, while fixed, is relatively high compared to some other credit card options.

Security Deposit Required: Requires an upfront deposit equal to the credit limit, which might be a barrier for some applicants.

Payment Inconveniences: Lacks some modern payment conveniences, like easy online or app-based bill payment.

Limited Credit Limit: The credit limit is tied to the amount of the security deposit, which might not suit those needing higher credit limits.

How to Activate the UNITY Visa Secured Credit Card?

To activate your UNITY Visa Secured Credit Card, proceed as follows: 

Call the number (833) 319-3044 listed on the front of the card when it arrives. Calling from the phone number linked to your account is required, or you must be ready to enter the mobile number used to register the account when asked.

As part of the activation procedure, you will be able to choose your own special PIN.

The last four digits of your social security number, your debit/aTM card, and the phone number linked to your account are required. 

Fees and Tariffs

Fees and Tariffs for the OneUnited Unity Visa Credit Card

• Annual Fee: $39, charged annually for card maintenance.
• Interest Rate (APR): Fixed ongoing APR of 17.99%, applicable on purchases and balance transfers.
• Balance Transfer Fee: 3% of the transfer amount or $10, whichever is greater, with a maximum fee of $150.
• Security Deposit: Required deposit equal to the desired credit limit, fully refundable under certain conditions.
• Late Payment Fee: Up to $10, lower than typical fees charged by major issuers.
• Credit Limit Increase Fee: $10 fee for increasing the credit limit.
• Foreign Transaction Fee: Information not explicitly provided, but typical for Visa cards.
• Cash Advance Fee: Not clearly specified, but generally present in credit card terms.
• Over-the-Credit Limit Fee: Not specified, but exceeding the credit limit may incur additional charges or impact credit scores.

Customer Service

Here are the official channels for contacting OneUnited Bank and seeking assistance regarding the Unity Visa Credit Card:

• General Contact Number: (877) 663-8648
• Email Support: customersupport@oneunited.com
• Official Website: OneUnited Bank Website

Additionally, OneUnited Bank offers a mobile banking app that can be downloaded for a more convenient banking experience. The app is available for both Android and iOS devices:

• For Android: Download the app on Google Play
• For iOS: Download the app on the App Store ​