The LATAM Visa Secured Card has an introductory offer of: 5,000 Multiplus bonus points when you charge your card for the first time. The value for these points will be worth about $75. Even though this isn’t the best welcome bonus there is to offer, there aren’t lots of secured cards that offers a bonus in general.
LATAM Visa Secured allows you to gain 1x points for all expenses while you increase and work on your credit. You have to pay your bill on time consistently for 12 months and you can qualify for an upgrade to an unsecured version of the LATAM card. The unsecured versions will be the LATAM Visa Signature Card and the LATAM Visa Card.
Fun fact, U.S. Bank also issues secured rewards cards with Aeromexico and Korean Air.
LATAM Visa Secured Card Quick Facts
| Bonus Available | Receive 5,000 bonus points once you’ve charged your card for the first time. |
| Bonus Value | $75 |
| Travel Credit | No travel credit |
| Ongoing Rewards/Benefits | Get 1 point for each $1 used towards qualifying expenses.
Earn one 10% discount a year on your first LATAM Airlines purchase. |
| Foreign Transaction Fees? | 2% in USD, 3% in foreign currencies. |
| Airport Lounge Access | None |
| Annual Fee | $25, waived your first year. |
Recommended Free Credit Score (Get Free Score)
690 – 850 (Good – Excellent)
*This card is issued by U.S. Bank. Compare this card to other credit card offers.*
Pros
- Bonus points
- LATAM discount
- Partner airlines
Cons
- Requires a security deposit
- Foreign transaction fees
Editor’s Alternate Pick
 With the Capital One Platinum Secured: Unlike a prepaid card, this card will help you build credit when used responsibly, with regular reporting to the 3 major credit bureaus. You'll get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness; and be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app This card comes with no annual fee, and all the credit building benefits with responsible card use. |
LATAM Visa Secured Card 5,000 Bonus Points Offer
Make use of the LATAM Visa Secured card’s introductory offer of: 5,000 bonus Multiplus Points. The evaluation for these 5k points are worth about $75 (more on that later). Although, it doesn’t look like much, it’s not a very common for a secured card to have a welcome bonus at all.
You must charge your card for the first time to be able to qualify for this welcome offer. There won’t be any spending or time limitations placed on this card to stress over.
What Are LATAM Multiplus Points Worth?
Compared to other airline branded credit cards, depending on how you use your points will reflect their value. Digging a little deeper, we’ve seen that there is a huge range of values from $0.002 to $0.009 for each point. Typically, every Multiplus Point will be worth about $0.015.
Your Multiplus Points can be used towards:
- Award flights with LATAM Airlines or a partner airline (more on that below)
- Cabin upgrades
- Hotel stays
- Car rentals
To get the best value for your points, you should redeem your Multiplus Points towards air travel with LATAM Airlines or one of their partners.
LATAM is part of the oneworld airline alliance. In other words, you will be able to redeem your Multiplus Points for award flights with any oneworld member airline such as:
| American Airlines | British Airways | Cathay Pacific |
| Finnair | Iberia | Japan Airlines |
| Latam | Malaysia Airlines | Qantas |
| Qatar | Royal Jordanian | S7 Airlines |
| SriLankan Airlines | Fiji Airways (oneworld connect) | Royal Air Maroc (future member) |
LATAM also has 2 non-alliance partners which are: Aeromexico and Alaska Airlines.
Security Deposit & Credit Limit
LATAM is apart of the small handful of secured credit cards that has a rewards program. They require a security deposit that will set your credit limit. The LATAM Visa Secured credit limitation will vary from about $300 to $5,000, it will depend on how much you put in.
Your deposits will be put into an interest-bearing, secured, savings account. This way, you’ll be able to build up your limit when you add funds into your card, the starting requirement is at least $100. You’ll be given a deposit refund plus interest if you close your account.
LATAM Airlines Discount
Get a 10% discount each calendar year for your first LATAM Airlines purchase. It will immediately show up on your statement as a “LATAM Airlines Discount.”
The discount for every year is no more than $500.
Bottom Line
The LATAM Visa Secured Card is a great fit for people who aren’t eligible for a traditional credit card. For people who frequently travel with the South-America airlines are included. It isn’t very often that a secured card to have a welcome bonus offer and ongoing rewards and benefits included.
However, if you don’t normally fly to South America, then you should consider a different credit card that’s a better fit for you.
(Visit LATAM for more information)
What’s the Competition?
There are some of LATAM Visa Secured credit card’s top competitors listed below.
With the Capital One Platinum Credit Card: This card can help build your credit with responsible card use and be automatically considered for a higher credit line in as little as 6 months. Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app. Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges. You're able to pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you Monitor your credit score with CreditWise from Capital One. It's free for everyone. This card comes wit no annual or hidden fees. See if you're approved in seconds |
With the Capital One Platinum Secured: Unlike a prepaid card, this card will help you build credit when used responsibly, with regular reporting to the 3 major credit bureaus. You'll get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness; and be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app This card comes with no annual fee, and all the credit building benefits with responsible card use. |
