A secured credit cooperative allows you to borrow money against a fixed deposit. The minimum deposit and the maximum amount are dependent on the lender. A lot of lenders put a hold on your funds. However, the money might still be included as part of your total balance. The credit limit for a typical secured credit union is $3,500 with a $300 minimum deposit.
Capital One Platinum Secured Kreditkarte
Capital One Platinum Secured Credit Card gives consumers the option to deposit up $200 as a security deposit. This credit line can be increased as long as the cardholder consistently pays their monthly bill. After six months, applicants will be eligible to apply for a higher credit limit.
The Platinum Secured Credit Card features a zero foreign transaction fee and no annual fee. The card is a good choice for travelers as you can use it anywhere in the world and not pay any foreign transaction fees. You have the option to set the payment due date and can pay by check or online.
Citi Secured Mastercard
Citi Secured Mastercards are not subject to credit checks. The Mastercard logo allows the card to be used anywhere. This means you can make purchases anywhere Mastercard logo is accepted. It is more widely accepted than Visa, American Express, and Discover. It offers many benefits such as free credit report monitoring, 24-hour emergency assistance, and more.
Citi Secured Mastercard holders will pay no annual fees. Balance transfer fees are 5% of the balance that you transfer. This can add up to $50 if you want to transfer a balance of $1,000. The fee to transfer a balance of $1,000 is $5. The deposit will be refunded once you reach 18 consecutive months of responsible use.
DCU Visa (r) Platinum Secured Credit Card
The DCU Visa(r) Platinum Secured credit card offers a low introductory APR and is designed for consumers who are trying to improve their credit scores. This card offers many perks, including a creditwise (r) simulator.
To apply for the DCU Visa(r) Platinum Secured credit card, you must first join the credit union and make a minimum deposit of $500. This is much higher than other secured cards, which start at around $200. However, the DCU Visa(r), Platinum Secured card offers low interest rates with no fees.
Rewards with Platinum Advantage
Secured credit Cards can offer many benefits. For example, you can exchange rewards for merchandise or travel vouchers. Platinum Rewards Mastercard gives you credit limits upto $25,000 and no annual fee. Additionally, your card earns you rewards for every transaction. Redeem points for gift cards and merchandise or to support charity.
For every dollar spent, you can earn 1 point. Some credit cards even offer bonuses through local partners like Cici’s Italian restaurant. Advantage Rewards offers merchandise and gift cards. There is no annual fee for this card, as well as no fees for balance transfer, foreign transactions or over-limit fees.
Platinum Cash rewards
American Heritage Credit Union is a great option if you want to earn rewards for spending on your secured card. The credit union offers many rewards programs, including the Platinum Secured Mastercard. The card is free of any annual fee and you can earn points each time you use it. These points are redeemable for merchandise and charity.
Share Savings backs the Platinum Rewards Secured Mastercard. You earn reward points on every dollar spent. Reward points can be redeemed for merchandise or gift cards as well as travel vouchers. This credit union card does not have an annual fee and is highly secure.