A secured credit union allows you to borrow funds against a deposit. The minimum deposit and the maximum amount are dependent on the lender. Lenders often place a block on funds. However, the money might still be included as part of your total balance. A typical secured credit union has credit limits of up to $3,500 and minimum deposits of $300.
Capital One Platinum Secured Visa 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 ideal for travelers. It allows you to use the card anywhere in world without paying any foreign transaction fee. You will also have the freedom to choose the payment due date on your statement, and you can pay with your check or online.
Citi Secured Mastercard
Citi Secured Mastercards do not require credit checks. You can use the credit card anywhere Mastercard logos are accepted. This means that the credit card can be used in more than 221 countries. It is accepted more than American Express, Visa, and Discover. It offers many benefits such as free credit report monitoring, 24-hour emergency assistance, and more.
A Citi Secured Mastercard will allow you to transfer balances up to 5% without any fees. There is no annual fee. For a balance greater than $1,000, the fee could be up to $50. The fee to transfer a balance of $1,000 is $5. After 18 months of responsible usage, your deposit will be refunded.
DCU Visa(r) Platinum Secured Credit Card
The DCU Visa(r), Platinum Secured Credit Card offers a low-introductory APR. It is for consumers who want to improve or maintain their credit scores. The card includes a creditwise(r), simulator and many other benefits to improve credit scores and financial literacy.
The DCU Visa(r), Platinum Secured card requires that you first join the credit cooperative and deposit a minimum of $500. This is a higher amount than many secured cards that start at around $200. However, the DCU Visa(r), Platinum Secured Credit Card offers low interest rate and no fees.
Rewards with Platinum Advantage
Secured credit card can provide a variety of benefits including rewards programs that you can redeem for merchandise or travel coupons. The Platinum Rewards Secured MasterCard allows you to get credit limits up to $25,000 and has no annual fees. Every time you use your card, you earn rewards. You can redeem points for gift cards, merchandise, and charity donations.
You can earn one point for every dollar you spend. You can also get bonuses from local partners such as Cici's Italian restaurants. Advantage Rewards offers merchandise and gift cards. You don't have to pay an annual fee or any fees for balance transfers, foreign transactions, over-limit fees, or balance transfers.
Platinum Cash rewards
American Heritage Credit Union is a great option if you want to earn rewards for spending on your secured card. This credit union offers numerous rewards programs for members, including a Platinum Secured Mastercard. This card has no annual fee, and you can earn points every time you use it. These points can be used to purchase merchandise or donate to charity.
Share Savings backs the Platinum Rewards Secured Mastercard. 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.