Credit Card Review & Application

Ultra VX Visa Credit Card


out of 5

- UltraVX makes it easy to manage your finances
- Automatic minimum payments
- Reports to all 3 major credit bureaus
- No credit check, no bank account required
- Instant online approval
- Earn rewards for iTunes, Southwest Airlines, American Airlines, JetBlue, US Air, Marriott Hotels, Hilton Hotels, and many more with no restrictions (Subject to terms and conditions)
*Application for this card is not available

Introductory APR: N/A*
Introductory Period: N/A
APR on Purchases: 18.90% (fixed)*
Annual Fee: $0*
Card Issuer: Other Issuers
Card Network: VISA®
Card Category: Consumer (Regular)
Card Type: - Card for Bad Credit
- Instant Decision Card
- Reward Card
Credit Needed: Bad Credit OK*

Ultra VX Visa Credit Card is an innovative credit card with a patent pending. It's mainly for those consumers having bad credit (but could be used by everyone) who wish to exercise more control over spending. It represents a combination of card features we already are used to. Members have an opportunity to increase credit limit and add/decline card features from an online interface.

There is no introductory APR period on this card.

Applicants are required to be above 21 year of age and resident within the U.S. A security deposit is also needed for approval.

The Ultra VX Visa Credit Card works this way:

Card members deposit funds equivalent to the credit limit given into a secured account. This account is used to secure the credit limit and will be where delinquent card payments are deducted. Once money is paid into this account, the card member also needs to pay in some funds into a cash account.

The cash account is where monthly repayment minimum and over limit purchases are funded. Card members are allowed to pay off outstanding credit balance in part or full. Those who wish to pay in part must pay a figure above or equal to the minimum which is 4% of outstanding balance or $10 (whichever is greater).

When a purchase exceeds the credit limit, the difference is transferred from the cash account into the secured account - thus increasing the credit limit. If enough funds are unavailable to support this transfer, the transaction is denied.

Metabank, the card issuers report credit to the 3 credit reporting agencies

Automatic bill payment is made easy through an online account management center. Bill payments are deducted from the cash account. Card members only need to select a biller from the database. When not in the database, options to forward a paper check are made available.

Members are subject to a monthly participation fee and account setup fee. No annual fee is charged.

Members gain access to a universal rewards program to earn a point per dollar spent. Points can be redeemed for discounts and free purchasing at iTunes, Southwest Airlines, American Airlines, JetBlue Airways, US Air, Marriott Hotels, Hilton Hotels and more with no restrictions.

The review prepared by . Opinions expressed therein are solely those of the reviewer.

Reward Type: - Universal Reward Cards
Reward Unit: Point
Rewards: - 1 point for each $1 spent

Redeem points for iTunes, Southwest Airlines, American Airlines, JetBlue, US Air, Marriott Hotels, Hilton Hotels, and many more with no restrictions and no blackout dates
Other Benefits: - Online account access
- Automatic minimum payments
- Account alert feature
- World-class customer service
Comments: Transaction fee for any transaction made in a foreign currency: 2% of the U.S. Dollar amount of each such transaction. This fee will be in addition to any other applicable fee.
Credit Reporting: Yes
Online Account Access: Yes
Introductory APR: N/A*
Introductory Period: N/A*
APR on Purchases: 18.90% (fixed)*
Annual Fee: $0*
Grace Period: 25 days*
Late Payment Fee: N/A*
Balance Transfer: No
APR Cash Advances: 18.90%
Cash Advance Fee: $2.00
Additional Fees - Account Set Up Fee: 29.95
- Monthly Participation Fee: $6.95 monthly
ATM (International) - $5.00
ATM Balance Inquiry Fee - $0.95
ATM Decline Fee - $0.95
ATM Fee - $2.00
Bill Pay (Paper) - $1.00
Card Replacement Fee - $15.00
Cash Advance Fee (International) - $5.00
Cash Advance Fee - $2.00
Duplicate Statement Fee - $5.00
Express Mail Fee - $19.95
Returned Payment Fee - $25.00

We do not offer online application for this card at the moment.

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† The information provided for Ultra VX Visa Credit Card is believed to be accurate at the time of evaluation (Mar 23, 2016). We strongly advise visitors to review the terms and conditions to verify accuracy of the information posted prior to applying for the product.

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