The Redstone Signature Visa is a secured credit card designed for people rebuilding credit

The Redstone Signature Visa is a secured credit card issued by Redstone Bank, a federally chartered bank based in Nevada. With a secured card, you put down a cash deposit that becomes your credit limit — so a $500 deposit gives you a $500 limit. You then use the card like any other Visa, and your payment history gets reported to the three major credit bureaus (Equifax, Experian, and TransUnion).

This card is built for people who have limited credit history, a low credit score, or are working to recover from past credit problems. Because the bank holds your deposit as collateral, they take on less risk, which is why secured cards exist at all. The tradeoff is that you pay an annual fee and typically a higher interest rate than you would on an unsecured card.

The card itself carries a Visa Signature designation, which means it includes certain cardholder protections and benefits beyond what a basic Visa offers — though the specific perks are modest compared to premium unsecured cards.

Key Takeaways

  • Your cash deposit becomes your credit limit, and the bank holds it as security while you build payment history.
  • The card reports to all three credit bureaus, so on-time payments directly improve your credit score over time.
  • You will pay an annual fee (the amount varies and should be confirmed with the bank before opening the account) plus interest on any balance you carry.
  • After demonstrating responsible use — typically 6 to 12 months of on-time payments — you may be able to move to an unsecured card and recover your deposit.

How the deposit and credit limit work

When you open a Redstone Signature Visa account, you choose how much to deposit. That deposit amount becomes your credit limit. If you deposit $1,000, your limit is $1,000. The bank freezes this money in a savings account and holds it for the life of the account (or until you graduate to an unsecured card).

You do not lose access to the deposit — it earns interest at whatever rate Redstone offers on their savings accounts, though that rate is typically very low. The deposit is yours; the bank straightforward uses it as insurance against the risk that you will not pay your bill. If you stop paying and the bank writes off the debt, they can take the money from your deposit to cover losses.

Your credit limit does not grow automatically as you make payments. To increase your limit, you would need to add more money to your deposit. Some banks allow this after a period of on-time payments, but the terms depend on Redstone's current policies.

Annual fees and interest rates

Secured cards charge annual fees because the bank's profit margin is lower than on unsecured cards — they are taking on less risk, but they are also lending less money. The exact fee amount varies by card and changes over time, so you should confirm the current fee directly with Redstone Bank before opening an account.

The interest rate (called the APR, or annual percentage rate) is the percentage you pay on any balance you carry from month to month. Secured cards typically charge higher APRs than unsecured cards because the borrower is considered higher-risk. Again, the exact rate depends on current market conditions and Redstone's underwriting at the time you explore.

The best way to minimize what you pay is to charge only what you can pay off in full each month. If you carry a balance, you will owe interest on top of the annual fee. For someone rebuilding credit, the goal is usually to show consistent on-time payments, not to carry debt — so paying in full each month serves both your wallet and your credit-building goal.

How this card reports to credit bureaus

Every month, Redstone reports your payment activity to Equifax, Experian, and TransUnion. This means your on-time payments build positive history, and late payments damage your score. The card is useful specifically because it reports to all three bureaus — some secured cards report to only one or two, which limits how much they help your credit.

Your payment history makes up about 35% of your credit score, so consistent on-time payments over several months will move your score upward. The amount of improvement depends on where you started and what else is on your credit report, but most people see meaningful gains within 6 to 12 months of on-time use.

Keep in mind that opening a new account temporarily lowers your score (because it counts as a hard inquiry and a new account). This dip is normal and temporary. Over time, the positive payment history outweighs this initial drop.

When you might graduate to an unsecured card

After you have used the Redstone Signature Visa responsibly for a period of time — usually 6 to 12 months, though this varies — you may become may be able to access to convert to an unsecured card. When this happens, the bank returns your deposit to you, and your credit limit is set based on your creditworthiness at that time (not your deposit amount).

You do not have to wait for an invitation. You can contact Redstone and ask whether you are may be able to access to convert. They will review your account history: payment timeliness, how much of your limit you typically use, and your credit score improvement. If they approve the conversion, your deposit is released within a few business days.

Graduating to an unsecured card is the goal of using a secured card in the first place. Once you have an unsecured card, you can explore for other cards and credit products with better terms, lower fees, and higher limits.

Visa Signature benefits and protections

The Visa Signature designation includes certain protections that come with the card itself, not from Redstone specifically. These typically include purchase protection (coverage if something you buy is damaged or stolen), travel accident insurance, and emergency card replacement if your card is lost or stolen while traveling.

These benefits are modest compared to premium credit cards, and they come with limits and exclusions. For example, purchase protection usually covers only items above a certain price and excludes certain categories like jewelry or collectibles. Read the full terms (called the Cardholder Agreement) before relying on any of these protections.

The main value of the Redstone Signature Visa is not the Signature benefits — it is the opportunity to build credit history. The protections are a secondary feature.

Comparing secured cards: what makes this one different

Several banks offer secured credit cards, and they differ in deposit requirements, annual fees, APRs, and credit bureau reporting. The Redstone Signature Visa is one option, but it is not the only one. Other secured cards come from Capital One, Discover, and various regional banks.

Before opening any secured card, compare the annual fee, the APR, the minimum deposit, and whether the card reports to all three bureaus. A card with a $35 annual fee and a 24% APR is not necessarily worse than one with a $50 fee and a 22% APR — it depends on how you plan to use it. If you will pay in full each month, the APR matters less; the annual fee matters more.

You should also check whether the card offers a path to graduation (conversion to unsecured). Some secured cards do; others do not. If your goal is to rebuild credit and move to an unsecured card within a year, choose a card that explicitly offers this option.

Frequently Asked Questions

Can I use the Redstone Signature Visa right away after opening the account?

Yes. Once your account is approved and your deposit is received, you can use the card when ready. You do not have to wait for a waiting period. The card will arrive by mail, and you can set up it and begin making purchases.

What happens to my deposit if I close the account?

If you close the account in good standing (meaning you have paid all your bills and have no balance), Redstone will return your deposit. If you close the account with an unpaid balance, the bank may use your deposit to cover what you owe. If you convert to an unsecured card, your deposit is released automatically.

Will using this card hurt my credit score?

Opening the account causes a small, temporary dip in your score because of the hard inquiry and the new account. However, on-time payments over the following months will raise your score. The net effect is positive if you use the card responsibly.

Can I increase my credit limit without adding more money to my deposit?

Most secured cards, including this one, require you to increase your deposit to increase your limit. Some banks allow a limit increase after a period of on-time payments, but you should confirm Redstone's current policy before opening the account.

How long does it take to build enough credit to move to an unsecured card?

Most people see meaningful credit score improvement within 6 to 12 months of on-time payments. However, the time to convert to an unsecured card depends on Redstone's underwriting standards and your individual credit history. Some accounts convert sooner; others take longer.