A secured credit union lets you borrow funds against a deposit. The lender will determine the minimum and maximum deposit. Many lenders place a hold on the funds. However, the money may still be included in 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 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. After six months, applicants will be eligible to apply for a higher credit limit.
Platinum Secured is free of foreign transaction fees and has an annual fee. This card is ideal for travelers. It allows you to use the card anywhere in world without paying any foreign transaction fee. The payment due date can be set by you, and you have the option of paying with your check or online.
Citi Secured Mastercard
Citi Secured Mastercard doesn't require credit checks. You can use the credit card anywhere Mastercard logos are accepted. This means you can make purchases anywhere Mastercard logo is accepted. It is widely accepted than Visa, American Express and Discover. There are many benefits to the card including free credit reports monitoring and 24-hour assistance.
A Citi Secured Mastercard will allow you to transfer balances up to 5% without any fees. There is no annual fee. You can transfer $1,000 of balances, and this fee can reach $50. The minimum balance transfer fee for transfers is $5. When you have completed 18 months of responsible and consistent use, your deposit will automatically be refunded.
DCU Visa (r) Platinum Secured Credit Card
The DCU Visa(r® Platinum Secured) credit card offers a low APR and is ideal for consumers looking to improve their credit scores. The card also offers several perks to help build credit and improve financial literacy, including its creditwise(r) simulator.
For the DCU Visa(r), Platinum Secured credit card you will need to first join the credit Union and make a $500 minimum deposit. This is much higher than other secured cards, which start at around $200. However, the DCU Visa(r), Platinum Secured Credit Card offers low interest rate and no fees.
Platinum Advantage rewards
Secured credit cards offer many benefits. These include rewards programs that can be used to exchange for merchandise or travel vouchers. With the Platinum Rewards Secured Mastercard, you can get up to $25,000 in credit limits and pay no annual fee. Plus, you can earn rewards every time you use your card. You can redeem points for gift cards, merchandise, and charity donations.
For every dollar spent, you can earn 1 point. You may also be eligible for bonuses from local partners, like Cici's Italian restaurant. In addition, you can get gift cards and merchandise through the Advantage Rewards website. 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 numerous rewards programs for members, including a 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.
The Platinum Rewards Secured Mastercard is backed by Share Savings. 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.