The LATAM Visa Secured Card has an offer for 5,000 Multiplus bonus points when you make your first card purchase. We value these points to be worth around $75. Although not the best bonus out there, not many other secured cards offer any sort of bonus.
LATAM Visa Secured gives you the opportunity to earn 1x points on all purchases while building or rebuilding your credit. Consistently pay your bill on time for twelve months, and you may qualify for an upgrade to the unsecured version of the LATAM card (e.g. LATAM Visa Signature Card, LATAM Visa Card)
*LATAM Visa Secured is issued by U.S. Bank. U.S. Bank also offers great sign-up bonuses for its Checking/Savings accounts.
LATAM Visa Secured Card 5,000 Bonus Points Offer
Take advantage of the LATAM Visa Secured card’s introductory offer: 5,000 bonus Multiplus Points. My valuation puts these points at around $75 (more on that later). While that might not seem like a lot, it’s practically unheard of for a secured card to offer a welcome bonus of any kind.
To qualify, charge your first purchase to your card. There’s no spend amount or time limit to worry about.
What Are LATAM Multiplus Points Worth?
Like many other airline-branded cards, your points’ worth depends on how you use them. Our research revealed a wide range of values from $0.002 to $0.09 per point. On average, each Multiplus Point is worth around $0.015.
You can use your Multiplus Points for:
- Award flights with LATAM Airlines or a partner airline (more on that below)
- Cabin upgrades
- Hotel stays
- Car rentals
For the best value, redeem your Multiplus Points for air travel with LATAM Airlines or one of its airline partners.
LATAM is part of the oneworld airline alliance, so you can redeem your Multiplus Points for award flights on any oneworld member airline.
Security Deposit & Credit Limit
LATAM is one of the few secured cards with a rewards program. It requires a security deposit, which sets your credit limit. The LATAM Visa Secured credit limit ranges between $300 to $5,000, depending on the amount you put in.
Your deposit is placed in an interest-bearing, secured, savings account. You can increase your limit by adding funds to your card, starting with a minimum of $100. When you close your account, you’ll receive a deposit refund plus interest.
LATAM Airlines Discount
Receive a 10% discount every calendar year on your first LATAM Airlines purchase. This will automatically appear on your statement as “LATAM Airlines Discount.”
The maximum discount per year is $500.
The LATAM Visa Secured Card is a good option for those that don’t qualify for traditional credit cards. And, those who travel occasionally with the South America-based airline. Not common for a secured card, it offers a sign-up bonus, ongoing rewards and extra perks.
But if you don’t fly to South America that often, then I’d suggest looking into another credit card that better suits your lifestyle.
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