A secured credit union lets you borrow funds against a deposit. The minimum deposit required and the maximum allowed vary depending on the lender. Many lenders place a hold on 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 Card Credit Card
Capital One Platinum Secured Credit Card allows customers to make a deposit of up to $200 to secure their credit card. As long as cardholders pay their monthly bills, this credit line can be increased. 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. This card is an excellent choice for travelers. You can use your card anywhere you want without worrying about foreign transaction fees. You can also choose the due date for your statement and pay online or with a check.
Citi Secured Mastercard
Unlike unsecured credit cards, a Citi Secured Mastercard does not require a credit check. The Mastercard logo will be accepted and the credit card can then be used wherever you are. This means that the credit card can be used in more than 221 countries. 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.
Citi Secured Mastercard holders will pay no annual fees. Balance transfer fees are 5% of the balance that you transfer. If you wish to transfer a $1,000 balance, this fee can be as high as $50. There is a $5 minimum balance transfer fee. 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. You will also find a creditwise(r), simulator, and other perks that can help you build credit and increase your 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 more than most secured cards which start at $200. The DCU Visa(r), Platinum Secured credit card has low interest rates and zero fees.
Rewards from Platinum Advantage
Secured credit card can provide a variety of benefits including rewards programs that you can redeem for merchandise or travel coupons. Platinum Rewards Mastercard gives you credit limits upto $25,000 and no annual fee. Every time you use your card, you earn rewards. Points can be used to redeem for merchandise, gift cards, or charity donations.
Earn one point for each dollar you spend. You can also get bonuses from local partners such as Cici's Italian restaurants. Advantage Rewards offers merchandise and gift cards. The card has no annual fees and does not charge fees for balance transfers, foreign payments, or overlimit fees.
Platinum Cash rewards
If you're interested in earning rewards from spending on your secured credit card, American Heritage Credit Union may be right for you. This credit union offers several rewards programs to its members, 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 can be used to purchase merchandise or donate to charity.
Share Savings backs Platinum Rewards Secured Mastercard. It rewards you with reward points for every dollar that you spend. You can redeem these points for merchandise, gift certificates, and travel vouchers. This card from a credit union is secured and does not require an annual fee.