Bank of America offers secured card holders the chance of returning their security deposit. Bank of America will assess your account after one calendar year to determine if you are eligible for the return of the security deposit. If you qualify for a deposit return, you'll be able to use your card just as you would an unsecured credit card. Most secured cards require separate applications to access unsecured credit. The Bank of America secured card, however, does not.
Capital One Platinum Secured credit card
The Capital One Platinum Secured Credit Card requires a small security deposit to open the account. This amount can be as small as $49 or as large as $200. The deposit is not used to make purchases on the account, but instead acts as collateral. The deposit is fully refundable if your account is upgraded or closed. Additionally, you have the option to increase your credit limit by making more than the required security deposits. This may vary depending on your individual situation.
The Capital One Platinum Secured Credit Card offers many benefits, making it an excellent choice for anyone looking for a basic credit card. This card is not a reward card, but it offers a stable platform to slowly build credit. For loans at low interest rates, it is important to have good credit.
Discover it Secured Mastercard
Bank of American's Discover it Security Mastercard is among the best credit cards available. You get rewards you won't find with an unsecured credit card, and there is no annual fee. It is an excellent option for people with bad credit, who want to build credit. The only downside is the high APR. It will let you build credit without the need to make a large deposit.
The approval rate for the Discover it Secured Credit Card is very high. This card is ideal for those with poor credit or no credit history. It also offers cash back rewards and rewards for paying your bills in time. To apply, applicants must be at the least 18 years of age and have a U.S. Bank account and a banking routing number. In a matter of weeks, you will receive a decision.
Capital One BankAmericard
If you are looking for a credit card with no annual fee and no credit check, Capital One BankAmericard is an excellent option. This card does not have an annual fee and requires a small deposit. You can build credit history which will help improve your credit score. You can't use the cash back rewards program, which is the downside to this card.
BankAmericard Secured Credit Card requires a $300 minimum security deposit. This may prove to be a deterrent for some customers. Some competitors permit customers to deposit as little at $200. There is a $40 late payment penalty. However, the BankAmericard Security Credit Card is an excellent choice for individuals who want a credit record and to improve their credit scores. Its 3% foreign transaction fee and low minimum deposit make it a good choice for those who want a secure credit card with a high credit limit but don't have good credit.
Capital One BankAmericard offers higher credit lines than most. The maximum credit limit is $200. However, the minimum amount you can deposit will depend on your credit score as well as your financial history.