A secured credit union permits you to borrow funds against your deposit. The minimum deposit varies depending on the lender, as does the 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 of $3,500 and a minimum deposit of $300.
Capital One Platinum Secured Credit 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.
Platinum Secured Card has zero foreign transaction fees and no annual fees. 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
Unlike unsecured credit cards, a Citi Secured Mastercard does not require a credit check. You can use the credit card anywhere Mastercard logos are accepted. This means that you can make purchases in over 212 countries around the world. It is more accepted than American Express, Visa, Discover, and American Express. 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. If you wish to transfer a $1,000 balance, this fee can be as high as $50. The minimum balance transfer fee you have to pay 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. It is for consumers who want to improve or maintain their credit scores. This card offers many perks, including a creditwise (r) simulator.
You must first join the credit union to apply for the DCU Visa(r), Platinum Secured creditcard. This is a higher amount than many secured cards that start at around $200. The DCU Visa(r), Platinum Secured credit card has low interest rates and zero fees.
Rewards for 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 Secured Mastercard allows you to have credit limits of up to $25,000, and there is no annual fee. 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. 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. 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. The credit union offers many reward programs for members, such as the Platinum Secured Mastercard. You can earn points for every use of this card, which has an annual fee and no annual fees. 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 is secure and offers no annual fee.