Red V1 Visa Credit Card – Key Details
Credit Limit & Eligibility
- Initial Credit Limit: $800 (subject to increase based on creditworthiness)
- Eligibility Requirements:
- Minimum credit score: 600
- Age: 18+ years
- U.S. resident or citizen
- Valid SSN or TIN required
Interest Rates & Fees
- Purchases APR: 19.99%
- Cash Advance APR: 23.99%
- Balance Transfer APR: 20.99%
- Penalty APR: 29.99% (applies to late or returned payments)
- Annual Fee: $0
- Late Payment Fee: Up to $40
- Returned Payment Fee: $35
- Cash Advance Fee: 5% of the transaction amount ($10 minimum)
- Foreign Transaction Fee: 3% of each transaction in USD
Payment & Grace Period
- Minimum Payment Due:
- 2% of balance or $25, whichever is greater
- Grace Period: 25 days (Pay in full to avoid interest on new purchases)
Rewards & Benefits
- Earn points on every purchase – redeem for cashback, travel, and more
- Zero-liability fraud protection for unauthorized transactions
- 24/7 customer support & account management