Bank of America offers security card holders the opportunity to return their security deposits. Bank of America will look at your account for one year to determine whether you are eligible to return the 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. Although most secured cards require you to apply separately for access to unsecured credit (most do), the Bank of America secured is one of few cards that doesn't.
Capital One Platinum Secured Card Credit Card
Capital One Platinum Secured Credit Card Accounts require a small deposit to open. The amount required to open the account can range from $49 to $200. The deposit serves as collateral, not to buy anything. If you choose to close or upgrade your account, the entire deposit will be refunded. You can also increase your credit limit by putting down more than the security deposit. This may vary depending on your individual situation.
Capital One Platinum Secured Credit Card is a great option for beginners looking for a credit card. The card does offer no rewards but provides a solid platform for building credit slowly, steadily. Good credit is necessary to secure loans with low interest rates.
Discover it Secured Mastercard
Bank of American's Discover it Mastercard Secured Mastercard is a top-rated credit card. It comes with no annual fees and rewards you would not get from an unsecured loan. It is a great option for people with bad credit who want to build credit. However, the APR is high. You can build credit with it without having to deposit a large amount of security money.
The Discover it Secured Credit Card offers very high approval rates. It is perfect for people with poor credit and no credit history. You will also receive cash back rewards and rewards for paying bills on time. You must be at minimum 18 years old, have a U.S. banking account, and a routing number. In a matter of weeks, you will receive a decision.
Capital One BankAmericard
If you are looking for a credit card with no annual fee and no credit check, Capital One BankAmericard is an excellent option. The card comes with a low deposit and no annual fee. It will help you build your credit history so that you can improve credit scores. However, the only downfall of this card is that you can't take advantage of its cash back rewards program.
BankAmericard Secured Credit Card has a minimum $300 security deposit. This could be deterrent to some. Customers can deposit as little as $200, though some competitors offer lower limits. This card also has a $40 late payment fee. 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 transaction fee and low minimum deposit make it a good choice for those who want a secure credit card with a high credit limit but don't have good credit.
Capital One BankAmericard is able to offer a higher credit limit than others, despite the fact that secured credit cards may require a security deposits. Maximum credit limit is $200. The minimum deposit amount depends on credit scores and financial history.