A secured credit union permits you to borrow funds against your deposit. The lender may require a minimum deposit or a maximum. 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 a credit limit at $3,500 and a deposit minimum of $300.
Capital One Platinum Secured Visa Card
Capital One Platinum Secured Credit Card gives consumers the option to deposit up $200 as a security deposit. The credit limit can be increased if the cardholder pays their monthly bills on time. Within six months of applying for the card, applicants may be granted 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 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
A Citi Secured Mastercard is not subject to credit checks, unlike unsecured credit cards. You can use the credit card anywhere Mastercard logos are accepted. This means you can make purchases anywhere Mastercard logo is accepted. It is more popular 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. Your deposit will be refunded after 18 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. The card includes a creditwise(r), simulator and many other benefits to improve credit scores and financial literacy.
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 higher than the $200 minimum deposit required for most secured cards. The DCU Visa(r), Platinum Secured credit card has low interest rates and zero fees.
Rewards for Platinum Advantage
Secured credit cards may offer several benefits. You can exchange your rewards program for merchandise and travel vouchers. The Platinum Rewards Secured MasterCard allows you to get credit limits up to $25,000 and has no annual fees. You can also earn rewards for every use of your card. You can redeem points for gift cards, merchandise, and charity donations.
Earn one point for each dollar you spend. Some credit cards also offer bonus programs through local partners like Cici's Italian Restaurant. Advantage Rewards website offers gift cards, merchandise, and other benefits. 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 several rewards programs to its members, including the Platinum Secured Mastercard. This card doesn't have an annual cost and you can get points for each use. These points can be used to purchase merchandise or donate to charity.
Share Savings is backing the Platinum Rewards Secured Mastercard. It gives you reward points for every dollar, which can be used for merchandise, gift cards and travel vouchers. This card is free and secure.