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What is a "secured" credit card?
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scooby76
2 months ago
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Credit Card Offers Just For You
These are the most popular credit card offers from Credit Karma members with credit similar to yours.
Public Savings Bank Secured Visa
- Build credit history – we report to all 3 major credit bureaus
- 0% APR on all purchases for the first 6 months
- No annual fees or monthly maintenance fees
Orchard Bank Classic MasterCards
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
- Email and text messages to remind you of your upcoming payment due date with online enrollment
Capital One® Secured Mastercard®
- Automatic reporting to the 3 major credit bureaus
- Track credit with access to your credit score and other tools
- You may qualify for credit line increases with no further security deposit required
Secured credit cards are a type of credit card that requires a deposit before it can be issued. Designed for consumers with poor credit, the deposit is collateral against a customer defaulting on their credit card payments. Most secured credit cards will provide a credit limit equal to the security deposit.
Historically, secured credit cards have high fees and interest rates even though there is a deposit against default. In addition, secured credit cards often have an application fee. We suggest consumers read all of the fine print on secured credit card agreements since there are often hidden fees.
For people with poor credit, secured credit cards are sometimes the only option.
vendejp 2 months ago