A secured credit union allows you to borrow funds against a deposit. The lender will determine the minimum and maximum deposit. A lot of lenders put a hold on your funds. However, the money might still be included as part of your total balance. A typical secured credit card union has a credit limit up to $3500 and a minimum deposit requirement of $300
Capital One Platinum Secured Card Credit Card
Capital One Platinum Secured Credit Card lets you deposit as much as $200 in security deposits. The credit limit can be increased if the cardholder pays their monthly bills on time. After six months, applicants will be eligible to apply for a higher credit limit.
Platinum Secured Credit Cards have no annual fees and zero foreign transaction fees. This card is great for travelers because it allows you to use your card wherever you are in the world, without any foreign transaction fees. 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 Mastercards do not require credit checks. The Mastercard logo allows the card to be used anywhere. This means that you can make purchases in over 212 countries around the world. It is more accepted than American Express, Visa, Discover, and American Express. You get many benefits from the card, such as free credit monitoring and 24-hour emergency help.
Citi Secured Mastercard holders will pay no annual fees. Balance transfer fees are 5% of the balance that you transfer. 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. The deposit will be refunded once you reach 18 consecutive months of responsible use.
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. This card offers many perks, including a 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 more than most secured cards which start at $200. However, the DCU Visa(r), Platinum Secured card offers low interest rates with no fees.
Rewards for Platinum Advantage
Secured credit Cards can offer many benefits. For example, you can exchange rewards for merchandise or travel vouchers. The Platinum Rewards Secured MasterCard allows you to get credit limits up to $25,000 and has no annual fees. Every time you use your card, you earn rewards. Redeem your points to purchase gift cards, merchandise, or for charity donations.
Each dollar you spend can earn you one point. Some credit cards also offer bonus programs through local partners like Cici's Italian Restaurant. Advantage Rewards offers merchandise and gift cards. This card also offers no annual fee and no fees for balance transfers, foreign transactions, or over-limit fees.
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. This credit union offers a variety of rewards programs for its members, including the Platinum Secured Mastercard. This card has no annual fee, and you can earn points every time you use it. These points can be redeemed for merchandise or charity.
Share Savings backs Platinum Rewards Secured Mastercard. You will earn reward points for every dollar you spend. These points can be used to redeem for merchandise, gift vouchers, or travel vouchers. The credit union card has no annual fees and is safe.