What the Westgate Credit Card Is
The Westgate Credit Card is a secured credit card issued by Westgate Bank, designed for people who are building or rebuilding their credit history. With a secured card, you deposit money into a savings account, and that deposit becomes your credit limit — so if you deposit $500, you can charge up to $500. The card reports your payment activity to the three major credit bureaus (Equifax, Experian, and TransUnion), which means on-time payments help raise your credit score over time.
This card is not the same as a prepaid card. You are not spending the money you deposited upfront. Instead, you are borrowing against it and making monthly payments, just like any other credit card. The deposit stays in the bank's account and serves as collateral if you stop paying your bill.
Westgate Bank is a smaller, regional institution, so the card's availability and terms may differ depending on where you live and your banking history with them. Before you move forward, confirm that Westgate Bank operates in your state and that you meet their basic requirements.
Key Takeaways
- A secured card requires a cash deposit that becomes your credit limit, and you make monthly payments like a regular credit card.
- Your payment history is reported to all three credit bureaus, so consistent on-time payments build your credit score.
- You will pay an annual fee, and the card likely carries an interest rate higher than cards for people with established credit.
- After 12 to 24 months of on-time payments, many cardholders can request to graduate to an unsecured card and recover their deposit.
- Westgate Bank is a regional bank, so you should confirm they operate in your state before starting the process.
How the Deposit and Credit Limit Work
When you open the Westgate Credit Card, you choose how much to deposit. The minimum deposit varies by bank policy, but secured cards typically start at $300 to $500. Your deposit is held in a separate savings account and earns a small amount of interest — though the rate is usually very low, often less than 1 percent annually.
Your credit limit equals your deposit amount. If you deposit $1,000, your limit is $1,000. You can charge purchases up to that limit, and you pay interest on the balance you carry month to month, just like a traditional credit card. The deposit itself does not disappear when you use the card — it stays in the bank's account as security.
Some banks allow you to increase your deposit over time, which raises your credit limit. Check with Westgate Bank about their policy on deposit increases and whether there are any fees or waiting periods involved.
Fees and Interest Rates You Will Pay
Secured cards come with costs that unsecured cards do not. Most secured cards charge an annual fee, which typically ranges from $25 to $99 depending on the card and the bank. This fee is charged to your account once a year, usually on your account anniversary or at the start of each calendar year.
You will also pay interest on any balance you carry from month to month. The interest rate (called the Annual Percentage Rate, or APR) on secured cards is usually higher than on cards for people with good credit — often in the range of 18 to 24 percent or higher. If you carry a $500 balance at 20 percent APR, you will pay roughly $100 in interest over a year if you make only minimum payments.
To minimize interest charges, pay your full balance each month if you can. Even if you cannot pay in full, paying more than the minimum reduces the interest you owe and helps you pay off the card faster. Some secured cards also charge fees for late payments, returned checks, or exceeding your credit limit, so read the full terms before you open the account.
How to Open a Westgate Credit Card Account
To open a Westgate Credit Card, you will need to contact Westgate Bank directly. You can do this online through their website, by phone, or by visiting a branch if one is near you. Have your Social Security number, government-issued ID, and proof of address (such as a recent utility bill or lease) ready.
The bank will run a credit check, which appears on your credit report as a "hard inquiry." This inquiry may lower your credit score slightly, usually by a few points, but the effect fades over time. The bank will also verify your identity and may ask about your income and employment.
Once you are approved, you will arrange your deposit. The bank will tell you how to transfer the money — usually by check, electronic transfer, or in-person deposit. Your card typically arrives within 7 to 10 business days after your deposit clears. Set up automatic payments or calendar reminders to pay your bill on time each month, since payment history is the biggest factor in building your credit score.
Building Credit and Moving to an Unsecured Card
The main reason to use a secured card is to build credit history. Every on-time payment you make is reported to Equifax, Experian, and TransUnion. After 12 to 24 months of consistent, on-time payments, you become a candidate for graduation to an unsecured card.
When you graduate, Westgate Bank will return your deposit and convert your account to a regular credit card. Your credit limit may stay the same or increase, depending on the bank's policy and your credit score at that time. The annual fee may also change — unsecured cards often have lower fees or no annual fee at all.
You do not have to wait for the bank to offer graduation. After 12 months of on-time payments, you can contact Westgate Bank and ask whether you are ready to move to an unsecured card. Some banks will review your request; others have automatic review processes. Keep in mind that graduation is not may provide — it depends on your payment history, credit score, and the bank's current policies.
Comparing Secured Cards and Other Credit-Building Options
A secured card is one way to build credit, but it is not the only way. Other options include becoming an authorized user on someone else's credit card (if they have good payment history), taking out a credit-builder loan from a credit union, or using a credit mix strategy if you already have some credit history.
Secured cards have a real advantage: they work like regular credit cards, so they teach you how to manage credit responsibly. They also report to all three bureaus, which means your good payment history reaches lenders who check your score. The downside is the annual fee and higher interest rate, which cost you money if you carry a balance.
If you are comparing Westgate to other secured cards, look at the annual fee, the APR, the minimum deposit, and whether the bank reports to all three credit bureaus. Some banks also offer perks like cash back or no annual fee for the first year. Since Westgate is a regional bank, you may have more options if you live in a state with larger national banks that offer secured cards.
What Happens If You Miss a Payment
Missing a payment on a secured card has the same consequences as missing a payment on any credit card. A late payment is reported to the credit bureaus and damages your credit score. A payment that is 30 days late will appear on your credit report and stay there for seven years.
If you miss a payment, contact Westgate Bank as soon as possible. Explain your situation and ask about your options. Some banks will work with you on a payment plan or waive a late fee if it is your first missed payment. The sooner you catch up, the less damage to your credit.
If you default on the card (usually after 120 to 180 days of non-payment), the bank may close your account and use your deposit to cover the debt. Any remaining balance becomes a charge-off, which is one of the most damaging items on a credit report. Avoid this by paying at least the minimum each month, even if you are struggling financially.
Frequently Asked Questions
Can I use my deposit to pay my credit card bill?
No. Your deposit is held separately and is not available for you to withdraw or use for payments. You must pay your monthly bill from a separate bank account or payment method. The deposit stays in the bank's account as collateral for the entire time you hold the card.
What credit score do I need to open a Westgate Credit Card?
Westgate Bank does not publish a specific credit score requirement, but secured cards are designed for people with no credit history or poor credit. You may be approved even if your score is very low or if you have had past credit problems. Contact the bank directly to ask about their requirements for your situation.
How long does it take to build credit with a secured card?
You will see small improvements within a few months of on-time payments, but meaningful credit score increases usually take 6 to 12 months. The longer your payment history, the more it helps. After 12 to 24 months, you may be ready to graduate to an unsecured card, at which point your score may jump as the secured card is converted or closed.
Can I close my Westgate Credit Card and get my deposit back?
Yes, but timing matters. If you close the card while it still has a balance, you must pay that balance first. Once the account is paid in full and closed, the bank will return your deposit, usually within 5 to 10 business days. Closing the card may lower your credit score temporarily because it reduces your total available credit, so consider waiting until you have other credit accounts established.
What happens to my credit score if I graduate to an unsecured card?
Your score may dip slightly when the secured card is converted or closed, because your available credit changes. However, the long-term effect is positive — an unsecured card with no deposit requirement shows lenders that you have proven yourself creditworthy, which helps your score over time. The temporary dip is usually small and recovers within a few months.