Bank of America offers its secured cardholders the chance to get their security deposit back. Bank of America will assess your account after one calendar year to determine if you are eligible for the return of the security deposit. You'll be able use your card the same way as with an unsecured credit cards if you meet the requirements for a deposit refund. Most secured cards require separate applications to access unsecured credit. The Bank of America secured card, however, does not.
Capital One Platinum Secured Visa 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 used as collateral, and not for account purchases. 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. Depending on your situation, this may be up to $1,000.
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. A good credit rating is vital for getting loans at low interest rates.
Discover it Secured Mastercard
Bank of American's Discover it Secured Mastercard is one of our top-rated credit cards. It offers rewards that you wouldn't get with an unsecured card and has no annual fee. It's a great choice for those with bad credit who are looking to build their credit. Unfortunately, it has a high APR. It will let you build credit without the need to make a large deposit.
High approval rates are a hallmark of the Discover it Secured Credit Card. 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. You must be at least 18 years old and possess a U.S. bank card and routing number. You can expect to receive a decision within a few weeks.
Capital One BankAmericard
Capital One BankAmericard can be a good choice if you're looking for a card that doesn't have an annual fee or requires credit checks. This card has no annual fee and a low deposit. It can help you build a credit history, so you can improve your credit score. Unfortunately, you cannot use its cash back rewards program.
BankAmericard Secured Credit Card may require a minimum security investment of $300. This may be a deterrent. Some competitors however allow customers deposit as little $200. The card has a late payment fee of $40. Nevertheless, the BankAmericard Secured Credit Card is an excellent option for individuals who want to establish a credit history and build their credit score. Its 3% foreign transactions fee and low minimum deposits make it a good option for people who are looking for a secure credit card that has a high credit limit but have poor credit.
Capital One BankAmericard provides a greater credit line than many other credit cards, although a secured card will require you to make a deposit. Maximum credit limit is $200. The minimum deposit amount depends on credit scores and financial history.