Control Your Finances, start with a security deposit and credit line as low as $200
Apply in less than 5 minutes, NO credit check necessary
Avoid paying interest, no interest charged on new purchases if the balance is paid in full by the due date each month.
Extra Credit When You Need It, increase your credit line up to $5000
Easy funding options, with 4 ways to fund and NO checking account needed
|Annual Fee||Setup fee||Regular APR||Deposit Amount||Credit Bureau Reporting||Approval||Reviews||Credit Needed|
|$29||None||17.50%||$200||Yes||Considered||Good||Bad Limited No|
This is a good card for consumers that may not have a checking account or that prefer an alternative payment option to fund and make payments on the card. Although the Card has an application fee that some of the others do not it does provide a solution for these specific individuals. Reports to the major credit bureaus needed to build credit. The issuing bank's terms may include more detailed or updated information than presented here.
Annual Percentage Rate (APR) for Purchases - 17.50%. Your APR will vary with the market based on the Prime Rate plus a margin. APR for Balance Transfers - 17.50%. Your APR will vary with the market based on the Prime Rate plus a margin. APR for Cash Advances - 17.50%. Your APR will vary with the market based on the Prime Rate plus a margin. Penalty APR 21.50% will vary with the market based on the Prime Rate plus a margin. The Penalty APR will apply to your Account if you: fail to make any Minimum Payment by the date and time due (late payment);exceed your credit line; make a payment to us that is returned unpaid; or do any of the above on another account or loan you have with us or any of our related companies. Paying Interest - There is no period in which you can avoid paying interest. We begin charging interest from the posting date for purchases and the transaction date for cash advances. Minimum Interest - If you are charged interest. The charge will be no less than $1.00 For Credit Card Tips from the Federal Reserve Board - To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore. Annual Fee - $29 annually. Expedited Card Fee - $50 (optional one-time fee) Balance Transfer 5% of the amount of each Balance Transfer Cash Advance - 5% of the amount of each Cash Advance Foreign Transaction - 3% of each Transaction in U.S. dollars Penalty Fees Late Payment - Up to $20 Returned Payment - Up to $25
CREDIT AVAILABILITY: Any charges for Optional Card Benefits will reduce your available credit. All account purchases and cash advances or any other fees and charges will reduce credit availability at the time they are charged to your account. Account related fees, if incurred, will continue to be charged even if your account is Overlimit.
General: Each Billing Cycle, will separately determine the Interest Charges on Purchases and the Interest Charges on Cash Advances (including Balance Transfers). Both for Purchases and Cash Advances (each, a Balance Type), we determine Interest Charges each Billing Cycle by multiplying the Balance Subject to Interest Charges by the daily Periodic Rate and by then multiplying the result by the number of days in the Billing Cycle. For each Balance Type, the Balance Subject to Interest Charges is the Average Daily Balance (including new Transactions). To get the total Interest Charges each Billing Cycle, we add together the Interest Charges for Purchases and the Interest Charges for Cash Advances.
Deposit Account Information and Disclosures: The Deposit Account will not pay interest. The minimum balance required to open the Deposit Account is $200; and may never exceed $3,000.
Good to know...
It's important to not use too much of your available credit. A good rule is to not use more than 30% of the amount of your deposit. Account balance is 35% of your credit score. The lower the balance the higher the score.
Payment history is extremely important to credit scores. Just one recent late payment on one account can reduce your credit score by up to 90 points! Making timely payments is 75% of your credit score.
Establishing good credit can seem impossible, but a secure credit card can help you build a strong credit foundation if managed responsibly. Acquiring two or three cards will build your credit even faster.
What is a secure credit card?
Secure credit cards vary from traditional credit cards in that they require you to put down a security deposit. The deposit serves as collateral in the event that you cannot make the payment, and is generally equal to your credit limit. Each secure card may come with different fees, maintenance costs or interest rates so compare and read the complete details. Secure cards allow consumers with bad, limited or no credit the means to have a credit card. The additional benefits of a secure card are that the bank offering the card reports the credit history to the credit bureaus resulting in building credit which improves your credit score.