May 5th, 2009

Public Savings Bank Secured Visa Review

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Public Savings Bank Secured Visa

**This offer has expired. Instead, we recommend the First Progress Secured Platinum MasterCard or the Capital One Secured MasterCard.**

The Public Savings Bank Visa is a secured credit card that offers 0% interest on purchases for 6 months. Secured credit cards are different than typical credit cards; they require an upfront deposit in order to buy items on credit. These cards are generally appropriate for consumers who would likely be denied a credit card because of lack of credit or simply having a low credit score. For those who have a limited credit history or past derogatory credit, a secured credit card can be one of the best ways to improve your credit health and proactively manage your credit score.

The Public Savings Bank Secured Visa has no credit check. Simply deposit funds from $300 up to $2,000 and you’ll be able to purchase any item interest free for the first six months. Make sure that you’ll be able to pay off these purchases in six months, or you’ll be charged interest on your remaining balance. Also, stay up to date on your payments, missing the minimum payment could harm your credit and cost you money.

One big benefit of the Public Savings Bank Secured Visa for consumers looking to build or improve their credit health is that the card reports usage and payments to all three credit bureaus each month. There are no annual fees, and the late penalties are not as harsh as other secured credit cards; only $20 for a late payment or $25 for having a payment returned. While Public Savings Bank doesn’t have the common annual fee other secured cards generally requires, it does have a one-time activation fee of $75.

Being able to use a credit card instead of cash or checks is valuable for everyone, not just those who have good credit. The Public Savings Bank Secured Visa provides a much needed service for those with little or bad credit, while also providing a great perk by offering interest free purchases for the first 6 months. If you are having trouble getting credit in today’s shrinking market, it’s the only secured card out there we know of that offers interest free purchases for 6 months.



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82 Comments

  1. OK, I have had this card for over a year, probably two … Generally works as its supposed to, BUT SOME CAUTION IS REQUIRED …

    In the past, this operation seemed to be run off somebody’s kitchen table, and dealing with them directly was quite difficult. Forget about talking to them on the weekend, or on Jewish holidays … Seriously.

    Also, I have been paying my bill by transferring money directly from my checking account to my Public VISA account. Now remember, this is an electronic transfer, and any other bank or credit card system would credit your account within one business day. With Public, they will recognize your payment IMMEDIATELY, but it will ALWAYS take 5+ business days for that payment to be credited to your account so you can use your card. For me, this has been a huge pain in the ass, but other than that …

    Mark Branstner at 7:11 am on February 25, 2011
  2. Call Public Savings Bank directly at 215-344-8145. Your likely to get a busy signal… but keep trying, it usually takes me about 15-20 tries to get through. Once you get through you’ll hear a nice recorded greeting sking you to leave a message- andd they’ll call you back in the order recieved. i left one of those messages at 10am this morning… still no call back.
    Feel free to call the number on the back of the card- but the person that answers the phone works for a 3rd party sub-contractor for Public Savings Bank… These people DO NOT LIKE Public Savings Bank… its VERY obvious.

    5+ days to get a payment cleared with a credit/debit card from Chase Bank!!! REALLY???

    To close you account you have to bring you balance to a complete zero. Meaning, if you have a credit limit of $1200 and you have and available balance of $500… then you have to pay then $700 before you can close your account- and THEN they’ll send you the $1200. My guess is in 3-4 months you might see that $$$

    Overall grade from me F-

    Patrick Trythall at 9:24 pm on March 14, 2011
  3. O wow, I get that! I just opend an account and it is taking forever for my payments to clear. I’m so afraid of what will happen next! Time to send out the warnings about these payments and how long they take to be credited!

    Me at 10:28 pm on March 24, 2011
  4. Public Savings Bank is terrible. No agents to chat with on-line and no one answers the phone. Are they Out of Business?

    Helen at 11:11 am on April 13, 2011
  5. Thanks guys for this info I Will not be opening an Acct wit these guys…..this is scarey I thought they were here to help u wit good credit payment history…. I guess not

    sunshine at 4:30 pm on April 19, 2011
  6. I have had the card for a few months and have NEVEr had a bad experience with Customer service. My only complaint is that even if you send them a cashier’s check they will hold your payment for five days. However, I did find out recently that if you ASK the customer service rep for a fax number, they will give you a fax number where you can fax your bank statement showing the paymnet has cleared and asking them to release your funds and supposedly they will do that. Haven’t tried that yet.

    Vivien at 12:30 am on April 28, 2011
  7. I’ve had this card for about 2 years now. I was able to get it immediately following filing BK and it’s been instrumental in rebuilding my credit. I use it for work purchases and pay it off in full each month as I get reimbursed. The only downside is the payment processing time. I use bill pay through my (major national) bank and it takes about 15-20 days from the time they receive the payment in the mail to the funds becoming available on the card. If you’re in a position where you max out a card and then pay it all off each month, this can become a huge frustration.

    Homebrew at 1:29 pm on May 6, 2011
  8. STAY AWAY FROM THIS COMPANY !!!!!!!!!!!!!!!!!!!!

    I have a card with a $1600 balance. Every merchant turns down the card and when calling the bank, they start they will fix but it does not happen. My girlfriend sent them $3000 to get card. 3 months later she is still waiting, while the bank has her money. When contacting the bank, the bank keeps stating they can not send card to mailing address. This is going on into month. The prepaid card is a good idea, but use anyone other than PUBLIC SAVINGS BANK. They are a SCAM!!!!!!!!!!!!!!!!!!!

    Scott at 11:48 am on May 15, 2011
  9. They have absolutely the worst customer service … or should I say they have the best “NON-SERVICE.’

    Scott at 11:49 am on May 15, 2011
  10. I applied for public savings card about two months ago and still have not received a card, I just received an email stating that my card was returned because the postal service cannot deliver to the address on file! ? I have not been able to contact anybody over the phone only by email. I’ll keep you guys posted on how things work out for me so if things go good I’ll let you know I would not like other people to have to go through what I’m going through right now.

    Joe at 3:38 pm on May 31, 2011
  11. ok so its been two days since I sent an email to Public Savings Bank and have not received a response, they have my money and can’t deliver my card.. I really don’t know what to do should i wait or get my money back? any advice.

    Joe at 10:05 am on June 2, 2011
  12. People be careful, ok so I just received a email alert for my credit report saying that I have a remaining balance o f$50 dollars with public savings bank. How is that possible I don’t have the card and its been 2 months now they said its undeliverable and then they said they resent it and they are sending it to an unknown address! does anybody know what I can do with this problem please any advice?

    JOe at 10:56 am on June 7, 2011
  13. Ok I just applied for this card earlier today. I have yet to send them any money. But I looked at the e-mail they sent me, there was a number to call if I had any questions. I did just that. The number is NO LONGER in SERVICE. Here is the # 215 344 8145.
    I am so thankful I read all your feed back before I sent these people my money. I will not be going through Public Saving bank.

    Lynn at 11:59 am on July 6, 2011
  14. Is Orchard bank any good. My f.i.c.o. Score is 548. I am trying to bring it up. and I have been told that getting a cc is a good way to do just that. However we a person has a cc as low as mine it is hard to find a good card. I have already tried First Primier Bank and got taken. Any ideas.

    Lynn at 12:03 pm on July 6, 2011
  15. PURCHASER BEWARE!! I decided to straightn my credit and apply for this card thru Public Savings to boost my credit score up. I applied last week and I have been calling and calling and can NOT get through to a live person. They deposited 4. then .10 into my account and then i was told to confirm this on their website, well when i did it came back and told me that my input was incorrect …HUUH!!! i’M LOOKING AT MY ACCOUNT AND WHAT YOU PUT IN THERE …i’ve been calling, faxing and emailing for 3 days now – NO RESPONSE!!!

    Cherry at 11:00 am on August 3, 2011
  16. OK folks i researched further and found this information for complaints against your credit card company: If you prefer to deal with your credit card problems offline, you can also call the CFPB (toll free) at 855-411-CFPB to lodge your complaint.

    Cherry at 11:09 am on August 3, 2011
  17. @Lynn…I just called the number (before office hours) and it is no out of service. Maybe you misdialed?

    Maggie at 6:02 am on August 4, 2011
  18. I HAVE BEEN USING PUBLIC SECURED CREDIT CARD AND I AM VERY PLEASED I KNOW IT TAKES ABOUT 5 DAYS TO HAVE YOUR PAYMENT POSTED BUT I HAVE FOUND THAT IF YOU PAY UNDER 99 DOLLARS IT POST WHEN THEY RECEIVE IT.. AND THEY DO REPORT TO THE CREDIT AGENCY’S.. ITS OTHER SECURED CARDS DO NOT DO THAT. SO ITS A COMPROMISE FOR USE HAVE LESS THAN PERFECT CREDIT

    angela at 7:41 pm on August 18, 2011
  19. Public Bank is gone! It was taken over by the FDIC! Capital Bank will take over its assets!

    Anne at 10:35 pm on August 18, 2011
  20. This sounds like a good new credit card, I am still going to look into it some more thought.

    leiloni at 7:37 pm on September 21, 2011
  21. Yes PSB is gone and taken over by Capital Bank!
    And the rpogram has been suspended for the secured credit card… Very GOOD!
    Please folks, get your card somewhwre else, these people otherwise are real crooks, I dealt with them at last and I know what I am talking about. Believe it or wait for your deposit money forever while it is being invested primarily for their own gain. Pitiful companies like this, sorry.
    No point to go into details: they suck!

    Djo Munoz at 12:23 pm on October 6, 2011
  22. STAY AWAY FROM PUBLIC SAVINGS/CAPITAL BANK i tried closing my secured card two weeks ago only to find out that it takes them up to 10 WEEKS to close your account. These crooks are trying to find any excuse to keep whatever money they were suppose to refund you…..STAY AWAY…and they have the WORST Customer Service….you are better off somewhere else….

    walejo at 11:18 pm on October 11, 2011
  23. Ok people,what do you really expect from low credit cards?!?! Have you all been blind to the state the economy is in? They report to all three bureaus, and quickly, I did the minimum amount, 300$ on a card, and have had it for only 7months. My credit score has already gone up 100pts, ONE HUNDRED POINTS! That is what this credit card is for, if you want to put 3000$ onto a low credit credit card,that is your ignorant mistake. Use this card simply to build your credit score, pay off over the minimum amount, EVERY MONTH and badabing, you’re improving your credit. Costumer service hasn’t been an issue for me, because I have never needed it. I simply use my card one to two times a month, and only swipe what I can afford to pay off. Stop living outside your means and maybe this card wouldn’t be an issue for you! It is a great card for people establishing or rebuilding credit. Period.

    Court at 1:47 pm on November 12, 2011
  24. Stay away from this Card! Just like the above comments I have experienced the same problems with the payments taking 5 days to give you credit so you can use your card! My issue now is that I cancelled my card and they told me it would take 10 weeks to get my deposit back! I seriously doubt that it take that long to process a zero balance credit card! This place is a joke!

    Save2day at 10:10 pm on November 15, 2011
  25. BEWARE!!! THIS CREDIT CARD COMPANY SUCKS!!! I GOT THIS CQRD TO IMPROVE MY CREDIT AND INSTEAD THEY DESTROYED IT!!!! I KEPT CALLING AND CALLING TO DISCUSS MY ACCOUNT AND I KEPT GETTING A RECORDING TELLING ME TO LEAVE A MESSAGE AND I LEFT OVER 10 MESSAGES FOR THEM TO CALL ME BACK AND THEY NEVER CALLED!! SO I WAS SCARED TO SEND THEM MY MONEY, THINKING THEY WENT OUT OF BUSINESS!! THEY GAVE ME A 90 day mark against my CREDIT REPORT EVEN THOUGH I CONTINUED TO CALL THEM THE ENTIRE TIME!!!! THEY THEN CLOSED THE CARD OUT AS A CHARGE OUT!!!! HAD TO GET A LAWYER TO GET IN CONTACT WITH THEM AND STILL THEY REFUSED TO FIX IT!!! WHEN I LEFT NUMEROUS OF MESSAGES!!!

    THIS COMPANY DOESN’T WORK FOR YOU NOR DO THEY STAND BEHIND CUSTOMER SERVICE!!!!

    *********IF Z WAS ON THE GRADE SCALE THEN I WOULD GIVE A Z- ********

    Tiffany at 8:53 am on December 6, 2011
  26. I want to know if anyone actually got a refund check after they closed their account??????????????

    I closed my account immediately after I got a letter in the mail stating Public Bank Savings Cards is being taken over by Capital Bank NA. I waited 10 weeks and now I call everyday asking where is my refund? I call 267-317-4507 everyday M through F asking where is my check? The customer service lady is “nice” and keeps changing their story. It went from “it is still being processed” to “the check was already mailed. You should be receiving it anyday.” I think this is just a BS cover-up and they are saying that to get by until their bank actually closes and thousands of people’s security deposit is never returned.

    I just want to know if anyone actually got their refund check yet??????????????????????

    Jasmine at 12:33 pm on December 12, 2011
  27. Jasmine… I did finally get my refund check. It was over 11 weeks after I closed the account before the check was printed. Furthermore, the amount of the refund was incorrect – they continued to charge me late fees and interest over that 11+ week period despite my closing the account, and despite their assurances over the phone that they would not do so. They probably reported me to the credit bureaus as delinquent as well.

    Jamie at 7:35 pm on January 12, 2012
  28. I close my account over 6 months ago never recieved a REFUND.

    val at 6:30 pm on February 9, 2012
  29. DO NOT do business with these jerks! After using them to repair my credit I was ready to close the account, when I called them they told me they could not close my account until by balance was paid off. I had a secured $500 limit and my balance was below that. I have to pay the remaining balance PLUS wait 4-6 weeks for my $500 secured deposit back! These people are horrible and don’t give a crap, bad customer service. I suggest Applied Bank, I got two cards from them, 0% APR and when I went to cancel my secured cards I was not given any push back.

    Kendra at 4:35 pm on June 30, 2012
  30. This card changed to Capital Bank N.A. and they are just as bad if not worse than Public Savings Bank. I have paid my credit cards through my bank website for years, and this credit card takes up to two weeks for payments to apply to my credit card account. I’m really bummed because it actually HURT my credit in March of this year… I was undergoing surgery and didn’t stay on top of the payment. Often times I have to make a second payment on their website which is cryptic to find… http://www.ezcardinfo.com (crazy!). I’ve noticed the payments go through in about 3 days that way. I feel like this credit card is a total racket and I want to close it soon. It doesn’t help your credit at all, total scam. Live and learn.

    Michelle at 1:23 pm on July 16, 2012
  31. The new website for this card is https://www.openskycc.com/
    That can be used with current customers that already had public savings bank cards

    Tyson at 10:33 pm on November 23, 2012
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    subject but typically people don’t discuss such topics. To the next! Many thanks!!

    low crab diät at 10:30 am on February 27, 2013

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