A secured credit union permits you to borrow funds against your deposit. The minimum deposit required and the maximum allowed vary depending on the lender. A lot of lenders put a hold on your funds. The money may be included in your total account balance, however. 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 lets you deposit as much as $200 in security deposits. Cardholders who pay their monthly bills in full can increase this credit limit. Within six months of applying for the card, applicants may be granted a higher credit limit.
Platinum Secured is free of foreign transaction fees and has an annual fee. 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 have the option to set the payment due date and can pay by check or online.
Citi Secured Mastercard
A Citi Secured Mastercard is not subject to credit checks, unlike unsecured credit cards. The credit card can be used anywhere that the Mastercard logo is accepted. You can purchase in more than 212 countries. It is accepted more than American Express, Visa, and Discover. There are many benefits to the card including free credit reports monitoring and 24-hour assistance.
Citi Secured Mastercard holders will pay no annual fees. Balance transfer fees are 5% of the balance that you transfer. For a balance greater than $1,000, the fee could be up to $50. There is a $5 minimum balance transfer fee. 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-introductory APR. It is for consumers who want to improve or maintain their credit scores. The card includes a creditwise(r), simulator and many other benefits to improve credit scores and financial literacy.
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 a higher amount than many secured cards that start at around $200. However, the DCU Visa(r), Platinum Secured card offers low interest rates with no fees.
Rewards with Platinum Advantage
Secured credit Cards can offer many benefits. For example, you can exchange rewards 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. Redeem points for gift cards and merchandise or to support charity.
For every dollar spent, you can earn 1 point. You can also get bonuses from local partners such as Cici's Italian restaurants. Advantage Rewards website offers gift cards, merchandise, and other benefits. 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
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 a variety of rewards programs for its members, including 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 be used to purchase merchandise or donate to charity.
The Platinum Rewards Secured Mastercard is backed by Share Savings. You earn reward points on every dollar spent. Reward points can be redeemed for merchandise or gift cards as well as travel vouchers. This card is free and secure.