A secured credit union allows you to borrow funds against a deposit. The minimum deposit varies depending on the lender, as does the maximum. Most lenders will place a hold upon the funds. The money could still be included in your total amount. A typical secured credit card union has a credit limit up to $3500 and a minimum deposit requirement of $300
Capital One Platinum Secured Credit Card
Capital One Platinum Secured Credit Card lets you deposit as much as $200 in security deposits. The credit limit can be increased if the cardholder pays their monthly bills on time. Within six months of obtaining the card, applicants will be eligible for a greater credit limit.
Platinum Secured credit card has no annual fee and no foreign transaction fee. This card is an excellent choice for travelers. You can use your card anywhere you want without worrying about foreign transaction fees. The payment due date can be set by you, and you have the option of paying with your check or online.
Citi Secured Mastercard
Unlike unsecured credit cards, a Citi Secured Mastercard does not require a credit check. The credit card can be used anywhere that the Mastercard logo is accepted. This means that you can make purchases in over 212 countries around the world. It is more popular than American Express, Visa and Discover. This card has many benefits including free credit reporting monitoring and 24 hour emergency assistance.
Citi Secured Mastercard holders will pay no annual fees. Balance transfer fees are 5% of the balance that you transfer. For a balance greater than $1,000, the fee could be up to $50. The minimum balance transfer fee for transfers is $5. When you have completed 18 months of responsible and consistent use, your deposit will automatically be refunded.
DCU Visa(r) Platinum Secured Credit Card
The DCU Visa(r), Platinum Secured card is designed for people who want to improve credit scores and offers a low initial APR. The card includes a creditwise(r), simulator and many other benefits to improve credit scores and financial literacy.
DCU Visa(r), Platinum Secured Credit Card applicants must first sign up to the credit union and make at least $500 deposit. This amount is significantly higher than secured cards that start from around $200. The DCU Visa(r), Platinum Secured credit card has low interest rates and zero fees.
Platinum Advantage rewards
Secured credit Cards can offer many benefits. For example, you can exchange rewards for merchandise or travel vouchers. The Platinum Rewards Secured MasterCard allows you to get credit limits up to $25,000 and has no annual fees. Your card can earn you rewards every time you use it. Redeem your points to purchase gift cards, merchandise, or for charity donations.
You can earn one point for every dollar you spend. Some credit cards also offer bonus programs through local partners like Cici's Italian Restaurant. Advantage Rewards also offers gift cards and merchandise. The card has no annual fees and does not charge fees for balance transfers, foreign payments, or overlimit fees.
Platinum Cash rewards
American Heritage Credit Union could be right for your needs if rewards are earned from purchases made on your secured bank card. The credit union offers many rewards programs, including the Platinum Secured Mastercard. This card has no annual fee, and you can earn points every time you use it. These points can then be redeemed to buy merchandise or for charity.
The Platinum Rewards Secured Mastercard is backed by Share Savings. You will earn reward points for every dollar you spend. These points can be used to redeem for merchandise, gift vouchers, or travel vouchers. This credit union card does not have an annual fee and is highly secure.