Regions Bank Offers New Secured Credit Card
Regions Bank has unveiled its latest secured credit card, the Regions Explore Visa.
The card, which helps customers build or rebuild their credit, offers competitive rates, Visa benefits, and the convenience of a credit card. Since the funds are secured by a Regions savings account, a member’s credit limit will be equal to the balance in their account.
Other features of the Regions Explore Visa include:
- No foreign transaction fees
- Chip-enabled technology
- Visa’s Zero Liability Policy, which means users will not be held liable for unauthorized transactions
- $29 annual fee
“There are all types of needs, when it comes to borrowing money, building credit and managing your finances,” said Rajive Chadha, head of Regions Retail Products and Payments. “The new Explore Card helps Regions expand our product offerings, and it provides an option for consumers who might not qualify for a traditional credit card.”
The Explore credit card and savings accounts are joining a number of other products that Regions offers to help those who may have not used traditional banking products in the past or who are rebuilding their credit. The Regions Now Card (a reloadable debit card), Now Savings, and Check cashing are all available to customers who have no credit or bad credit.