Review: Bank of the West Credit Cards

Bank of the West gives 3 credit cards for patrons of varied credit score sorts, although none of the playing cards are particularly interesting when in comparison with the wider market. Our overview / evaluation of the playing cards is under:

  • The Bank of the West Platinum Credit Card is an ordinary no-annual-fee bank card with no rewards however barely decrease rates of interest than you may get from a rewards card. You might qualify for his or her lowest price of 16.99%, however you continue to may very well be authorized at a price as excessive as 24.99%, making this card solely OK for these searching for a low price. You may additionally look to our Lowest Interest Credit Cards web page to see different choices if the rate of interest is your primary concern.
  • The Bank of the West Secured Credit Card is for these attempting to construct a credit score historical past for the first time or attempting to rebuild their historical past after previous credit score issues. It requires you place down a refundable safety deposit of anyplace from $300 to $1200 (your alternative how a lot to place down) and then you definitely get a credit score line equal to that safety deposit. From there, you employ it like another bank card, making purchases after which paying it off every month — be aware that your safety deposit is NOT used to repay your purchases; it’s only there as a security for the financial institution if you happen to finally fail to pay. For those who make on-time funds with this card, it could possibly assist you to enhance your credit score rating and hopefully qualify for the standard, unsecured bank card. (You’ll additionally get that safety deposit again whenever you now not need or want this card, assuming you’ve paid off all of your card purchases.) This card has a $25 annual payment that’s separate from the safety deposit, and an rate of interest of 22.99%. General, a reasonably respectable secured card choice.

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