PublicSavBk

jacksarivera, thanks for the positive remarks! We'll take all we can get!

The security deposit account does not earn interest today. My opinion is that the low fees associated with this card outweigh the small interest yield on the deposit. If your deposit is $500 and we pay 2%, it only equates to $10/yr in interest.

However, if this is a feature in demand, we can look at it for the future. Thanks for the comment.

ui8387, you can get a credit line up to $1000 on your initial application. You can increase it later if you want.

If you buy that TV or sofa, you have a 25 day grace period before the payment is due. Since we offer a 6 month 0% APR, you will not accrue interest on this purchase.

See the cardholder agreement for details on minimum payment.

Enjoy the TV!

nthpnk, we offer a free 24/7 website to make payments electronically. Of course if you prefer to send a check, we take those too!

magiclady420, you can increase your credit limit after 120 days of being a customer. There is a $25 charge for all credit line increases. Hope this answers your question.

GelflingLady, the money on deposit is returned to you when you have fully paid off the card and closed the account. The card will not become unsecured at any point.

When you do close the account, the money returned to you by check. Please read Sections 4 and 25 of the cardholder agreement for the details.

jdm5630, there is no annual fee with this card. There is a $79 application fee which is paid when you fund your security deposit. So for example, a $300 credit line requires a $300 deposit plus $79. The total initial funding in this example would be $379. No other monthly or annual fees. Simple! :)

Percyon, the card reports like a regular unsecured credit card. There is no mention of this being a secured card anywhere. Likewise, the card itself has no markings of it being a secured card.

SoHotToTrot, your security deposit is not used to pay back what you spend. It stays frozen at the bank and is used only as collateral. So, it does not work like a prepaid card. The card acts like a regular credit card so you have the option to pay it off each month or just pay the minimum payment.

Hope this helps?

Raycee29, this is a great card to help re-establish your credit. We have no credit score, income or employment requirement. Your good payment history will help build your credit profile since we report to major credit bureaus. Plus, we have no annual fee and a great 0% APR for 6 months on purchases.

Hope this helps.

grroberts4, at this time the card is only a secured card. It will not "graduate" in to an unsecured card.

kdwilliams4, the direct deposit you mention is really more of a feature you would find on a prepaid card. This is a secured card where you make a security deposit tat is held here at Public Savings Bank. you don't actually use the money. It's only held as security so I would recommend you do not set up your direct deposit payroll for this particular card.

Momcfa1, you have it right! A minimum of $300 is the security deposit plus a one time fee of $79 to open the card. In this example, your credit line is $300. It can be increased after 120 days of being a customer by just adding more funds to your account. Please see the terms and conditions for all details.

I can't predict how it will affect your score but I believe the folks at CreditKarma have a tool for that.

Hello! This is Bob from Public Savings Bank. Thank you for all the comments regarding our secured credit card offer. We're happy to be able to offer a great card and hope you find it useful. I'll be here to answer any questions you have about the card.

I welcome your comments as we take all of them seriously.