Bank of America offers secured card holders the chance of returning their security deposit. If you maintain good credit, Bank of America will review your account after one year and determine if you're eligible to receive the deposit back. You will be able to use the card in the same manner as an unsecured one if your application is approved for a deposit back. Most secured cards require separate applications to access unsecured credit. The Bank of America secured card, however, does not.
Capital One Platinum Secured credit card
Capital One Platinum Secured Credit Card requires that you make a small security payment in order to open your account. The amount required to open the account can range from $49 to $200. The deposit is used as collateral, and not for account purchases. If you choose to close or upgrade your account, the entire deposit will be refunded. You can also increase the credit limit by depositing more security deposits than the minimum. This can vary depending on your circumstances and could reach $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. The card does offer no rewards but provides a solid platform for building credit slowly, steadily. For loans at low interest rates, it is important to have good credit.
Discover it Secured Mastercard
Bank of America's Discover it Secured MasterCard is one of the most popular credit cards. It has an annual fee and offers rewards that aren't available with an unsecured card. This card is great for those with poor credit and who wish to improve their credit score. High APR is the only problem. The upside is that it will allow you to build credit without requiring you to put up a large security deposit.
The Discover it Secured Credit Card offers very high approval rates. 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. For you to apply, your must be at most 18 years old. You also need a U.S. account and a bank routing #. Expect to receive a decision in a few days.
Capital One BankAmericard
Capital One BankAmericard offers a great credit card option that has no annual fee and does not require credit checks. The card is low in deposit and charges no annual fee. You can build credit history which will help improve your credit score. The only problem with this card is the inability to take advantage of its cash-back rewards program.
BankAmericard Secured Credit Card requires that a minimum security deposit be $300. This may seem to be a deterrent. Customers can deposit as little as $200, though some competitors offer lower limits. This card also has a $40 late payment fee. However, the BankAmericard Security Credit Card is an excellent choice for individuals who want a credit record and to improve their credit scores. 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. There is a maximum credit limit of $200, but your credit score and financial history will determine the minimum deposit amount.