What the Imagine Visa Card Is
The Imagine Visa is a secured credit card issued by U.S. Bank, designed for people who are building or rebuilding their credit history. You put down a cash deposit, and that deposit becomes your credit limit. You then use the card like any other Visa card — make purchases, receive a monthly bill, and pay it back. The card reports your payment activity to the three major credit bureaus, which helps establish or improve your credit score over time.
This is not a prepaid card. You are not spending the money you deposited upfront. Instead, your deposit sits in a savings account held by the bank, and you borrow against it each month. If you pay your bills on time, the bank may eventually convert the card to an unsecured card and return your deposit.
Key Takeaways
- The Imagine Visa requires a cash deposit between $500 and $2,500, which becomes your credit limit and stays in a U.S. Bank savings account.
- The card charges an annual fee of $36, plus interest on any balance you carry month to month.
- Your payment history is reported to all three credit bureaus each month, so on-time payments directly build your credit score.
- After a period of responsible use (typically 7 to 12 months), U.S. Bank may upgrade you to an unsecured card and return your deposit.
- You can increase your credit limit by adding more money to your deposit account, up to the card's maximum.
Deposit Amount and Credit Limit
You choose your deposit amount when you open the account, and that amount becomes your credit limit. U.S. Bank allows deposits between $500 and $2,500. If you deposit $1,000, your credit limit is $1,000. You cannot spend more than that amount in a billing cycle.
Your deposit earns a small amount of interest while it sits in the savings account. The rate varies, but it is typically very low — often less than 0.5% annually. The deposit is yours to keep; it is not a fee. If you close the account or the bank converts it to an unsecured card, you get the deposit back.
You can add more money to your deposit account later to increase your credit limit. For example, if you started with $500 and later deposit another $500, your new limit becomes $1,000. There is no penalty for doing this, and it can help you build credit faster by giving you more room to use the card responsibly.
Fees and Interest Charges
The Imagine Visa charges a $36 annual fee, charged once per year to your account. This is a flat fee regardless of how much you use the card or how much your deposit is. There is no monthly fee, only the yearly one.
If you carry a balance from one month to the next, you pay interest on that balance. The card's annual percentage rate (APR) varies based on your creditworthiness at the time you open the account. U.S. Bank does not publish a single rate; your rate depends on your credit profile. You will see your specific APR in your account agreement before you open the card.
To avoid interest charges, pay your full balance by the due date each month. Since the card is designed to help you build credit, paying in full is the most cost-effective way to use it. You also avoid the annual fee if you close the account within the first year, though closing it early may limit the credit-building benefit.
How Credit Reporting Works
U.S. Bank reports your Imagine Visa activity to Equifax, Experian, and TransUnion — the three major credit bureaus. This happens once per month, usually around the time your statement closes. Your payment history, credit utilization (how much of your limit you are using), and account age all feed into your credit score calculation.
Making on-time payments is the single most important factor. If you pay at least the minimum due by the due date every month, that positive payment history gets reported and helps raise your score. Late payments also get reported and hurt your score, so setting up automatic payments or calendar reminders is worth the effort.
Your credit utilization matters too. If your limit is $1,000 and you use $900 of it each month, that 90% utilization can lower your score even if you pay on time. Keeping your balance below 30% of your limit — so under $300 in this example — is better for your score. You do not have to spend your entire limit to build credit; smaller, regular purchases paid in full each month work just as well.
When the Bank Converts Your Card to Unsecured
After you demonstrate responsible use, U.S. Bank may offer to convert your Imagine Visa to an unsecured card. This usually happens after 7 to 12 months of on-time payments, though the exact timeline varies. When this happens, your deposit is returned to you, and you keep the card with a new credit limit set by the bank based on your payment history and credit score.
Conversion is not automatic. U.S. Bank reviews your account periodically and decides whether to offer it. You cannot force the conversion, but you can improve your chances by paying on time every month and keeping your balance low. If the bank does not offer conversion after a year, you can contact them to ask about your options.
Even if conversion does not happen, the card still builds your credit as long as you use it responsibly. Some people keep the secured card open indefinitely because it helps their credit mix (having different types of credit accounts) and because the deposit is still earning interest.
How to Open an Imagine Visa Account
You can open an Imagine Visa account online through U.S. Bank's website or by phone. The process takes about 15 to 20 minutes. You will need to provide your Social Security number, date of birth, address, and income information. U.S. Bank performs a soft credit check to verify your identity; this does not lower your credit score.
Once your process is reviewed, U.S. Bank will tell you whether you are approved and what your APR will be. If approved, you choose your deposit amount and arrange to fund it. You can transfer money from a U.S. Bank account if you have one, or arrange an external transfer. The deposit must clear before your card is activated, which usually takes 3 to 5 business days.
After your card arrives in the mail, you set up it through U.S. Bank's website or app, set up a PIN, and you are ready to use it. You can also set up online bill pay or automatic payments through your U.S. Bank account to make sure you never miss a due date.
Alternatives to the Imagine Visa
Other banks offer secured credit cards with similar structures. Capital One Secured Mastercard, Discover Secured Card, and Citi Secured Mastercard are common alternatives. These cards differ in deposit minimums, annual fees, APR ranges, and how quickly they convert to unsecured cards. If you are comparing options, check the annual fee, the deposit range, and what other cardholders report about conversion timelines.
If you have a thin credit file but some credit history, you might also look at unsecured cards designed for people rebuilding credit, such as the Capital One Quicksilver or Discover it Secured. These have higher APRs but no deposit requirement. The choice depends on whether you have cash available for a deposit and whether you prefer the structure of a secured card.
If you are trying to build credit, you might also consider becoming an authorized user on someone else's credit card account, or opening a credit-builder loan through a credit union. These are not replacements for a secured card, but they are worth understanding as part of your overall credit-building strategy.
Frequently Asked Questions
Can I use my deposit to pay my bill?
No. Your deposit is held separately in a savings account and is not available for spending. You must pay your monthly bill from another source — a checking account, debit card, or bank transfer. The deposit stays in place to find your credit line.
What happens if I miss a payment?
A missed payment is reported to the credit bureaus and will lower your credit score. U.S. Bank will charge a late fee (typically $25 to $35) and may increase your APR. If you miss a payment, contact U.S. Bank as soon as possible to bring your account current and discuss your options.
Can I get my deposit back early?
You can close the account and request your deposit back at any time, but closing the account stops the credit-building benefit. If you close within the first year, you also lose the annual fee waiver that some promotions offer. It is usually better to keep the account open for at least a year to maximize the credit-building effect.
Does the Imagine Visa have a rewards program?
No. The Imagine Visa does not earn cash back, points, or travel rewards. It is a basic secured card focused on credit building rather than rewards. Once you convert to an unsecured U.S. Bank card, you may have access to rewards, depending on which card you are upgraded to.
What credit score do I need to open an account?
U.S. Bank does not publish a minimum credit score for the Imagine Visa. The card is designed for people with limited or poor credit, so you may be approved even with a low score or no credit history. The main requirement is that you have the cash available for your deposit.