Armed Forces Bank

Armed Forces Bank

Credit needed
Subject to credit approval
No annual fee
Annual Fee
Fixed 25.99% for purchases, balance transfers and cash advances.

Card Summary

The card operates on a fundamental premise: to provide accessible means for credit building. 

The Armed Forces Bank Credit Builder Secured Visa® Credit Card is a solid option for those looking to build or rebuild their credit. 

Its low annual fee (with e-statements), potential for credit limit increase, and pathway to an unsecured card make it a competitive choice in the secured credit card market. 

The card's focus is on credit building, combined with the flexibility of joint account ownership and the absence of complex fee structures This positions it as a practical tool for those on their credit journey.


  • The primary advantage of the Armed Forces Bank Credit Builder Secured Visa® Credit Card lies in its ability to build credit reports. Reporting to major credit bureaus ensures that users' credit activities contribute positively to their credit scores.
  • Another significant pro is the absence of an annual fee, making the card an economical choice, particularly appealing to those cautious about incurring high costs in their credit-building journey.
  • The card offers a potential upgrade to an unsecured card, a feature that provides long-term value to the cardholder.

Card Summary - Cons

  • One notable constraint is the requirement of a minimum deposit of $300, which is comparatively high and may be a barrier for some potential cardholders.
  • Users opting for paper statements instead of e-statements will incur a $5 quarterly fee, adding to the overall cost of maintaining the card.

Rates and fees

Issuer Name
Armed Forces Bank
Penalty APR
Up to $25
Credit Needed
Subject to credit approval
Balance Transfer Fee
No fees for balance transfers.
Annual Fee
Fixed 25.99% for purchases, balance transfers and cash advances.
Cash Advance Fee
$5 or 2% of the amount advanced, whichever is greater
No annual fee
Foreign Transaction Fee
0.8% to 1% of each transaction in US dollars, depending on the occurrence of currency conversion.


  • The card's highlights focus on its core objective – aiding in credit score improvement:
  • Regular reporting to credit bureaus helps steadily improve credit scores.
  • The unique feature of earning interest on the security deposit adds value to the cardholder's savings.

Comparative Analysis with Other Cards


The Armed Forces Bank Credit Builder Secured Visa® Credit Card is a practical choice for those looking to establish or improve their credit score. 

Its $0 annual fee (with e-statements), the ability to increase the credit limit, and the upgrade path to an unsecured card make it an attractive option in the secured card market. Additionally, the option for joint account ownership broadens its appeal. 

While the higher minimum deposit requirement and the potential quarterly fee are considerations, the card's benefits, particularly for credit building and flexibility, make it a valuable tool for those on their credit journey. As with any financial product, it's essential for potential cardholders to consider their individual financial situations and needs when evaluating this card.

Note: Credit Card summary is for informational purposes only and is not an endorsement of the product. Products and services described are offered by third parties and not Bright Money or its partner banks. Bright Money strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider, or specific product’s site and the information has not been reviewed or provided by the issuer of the product before publication.

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