A secured credit union allows you to borrow funds against a deposit. The lender will determine the minimum and maximum deposit. Lenders often place a block on funds. The money may be included in your total account balance, however. A typical secured credit card union has a credit limit up to $3500 and a minimum deposit requirement of $300
Capital One Platinum Secured Visa 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. Applicants will be considered for a higher credit limit within six months after obtaining the card.
Platinum Secured is free of foreign transaction fees and has an 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 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. The Mastercard logo allows the card to be used anywhere. This means you can make purchases anywhere Mastercard logo is accepted. 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 Mastercards come with no annual fees and only 5% balance transfer fees. 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. You will be refunded your deposit when you reach 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 also offers several perks to help build credit and improve financial literacy, including its creditwise(r) simulator.
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. However, the DCU Visa (r) Platinum Secured credit cards offers low interest and no fees.
Reward Program Platinum Advantage
Secured credit card can provide a variety of benefits including rewards programs that you can redeem for merchandise or travel coupons. With the Platinum Rewards Secured Mastercard, you can get up to $25,000 in credit limits and pay no annual fee. Additionally, your card earns you rewards for every transaction. Redeem your points to purchase gift cards, merchandise, or for charity donations.
Earn one point for each dollar you spend. Some credit cards even offer bonuses through local partners like Cici’s Italian restaurant. Advantage Rewards allows you to purchase merchandise and gift cards. 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 could be right for your needs if rewards are earned from purchases made on your secured bank card. The credit union offers many rewards programs, 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 are redeemable for merchandise and 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.