The mission of the Department of Defense is to provide the military forces needed to deter war and to protect the security of our country. The department's headquarters is at the Pentagon. Get the latest DoD News products delivered to your inbox.
Worse, late payment may cause you to forfeit some or all of the rewards you've accumulated. By the time your account is 180 days late, i.e. you've missed six payments, the card issuer will typically charge-off the account, writing it off as a loss. The charge-off goes on your credit report and stays for seven years.
The deposited amount acts as collateral against spending and ultimately represents your credit limit. A unusual feature with this card is a slightly longer grace period for payments. Most cards include a range of 20 to 25 days for bill payment, but the Secured Visa stretches that to 24 to 30 days. This means more time to pay your bill, helping you to potentially avoid a late payment. With the Secured Visa, the annual fee is waived the first year and $29 every year thereafter.