Secured Credit Cards

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The Applied Bank® Secured Visa® Credit Card, issued by Applied Bank®, is designed for those with limited or poor credit history. The major benefit of this card is the fixed APR of 9.99% for purchases and cash advances, which is reasonably low for a secured card. There is a $200 minimum deposit required, a $5,000 maximum, and an annual fee of $50. Unlike most secured credit cards, this card provides additional services and benefits including online account access and various fraud protection services. It is important to note that a major drawback of the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. A downside is that this card does not pay interest to the deposit amount, which sets it apart from other secured cards that do. Those who can afford the $200 minimum deposit and do not mind accumulating finance charges once a transaction is posted, will benefit most from the very low rate that the Applied Bank® Secured Visa® Credit Card has to offer.

The Applied Bank® Secured Visa® Gold Card, issued by Applied Bank®, is designed for those with limited or poor credit history. The major benefit of this card is the fixed APR of 9.99% for purchases and cash advances, which is reasonably low for a secured card. There is a $200 minimum deposit required, a $5,000 maximum, and an annual fee of $50. Unlike most secured credit cards, this card provides additional services and benefits including online account access and various fraud protection services. It is important to note that a major drawback of the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. A downside is that this card does not pay interest to the deposit amount, which sets it apart from other secured cards that do. Those who can afford the $200 minimum deposit and do not mind accumulating finance charges once a transaction is posted, will benefit most from the very low rate that the Applied Bank® Secured Visa® Gold Card has to offer.

The New Millennium Bank Secured Platinum Visa®/MasterCard®, issued by New Millennium Bank, is designed for those with limited or poor credit who may have difficulty in obtaining a standard unsecured credit card. Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide several benefits, including auto rental insurance, up to $100,000 in travel accident insurance, and an extended warranty for purchases. Perhaps the best benefit is the free companion airline ticket, which is awarded to cardholders upon approval. The card offers a free membership to TheWorldsBestTravelClub.com, which offers discounts on a variety of travel services and provides cardholders with a $69 cash rebate on their first condo booking. The card also offers referral program that rewards cardholders with up to $50 per approved referral. Although the APR applied to purchases is high for a secured card, this card does apply interest to the deposit amount required to secure the account, which is a nice benefit. This card also has a no credit check and no turn-down policy. There is an annual fee of $59, which is slightly above average for a secured card, as well as a one-time processing fee of $99.95 ($129.95 if the applicant would like to be issued both a Visa® and a MasterCard®). It is important to note that a drawback of the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. Therefore, those who do not mind accumulating finance charges once a transaction is posted and can afford the $300 minimum deposit will benefit most from what the New Millennium Bank Secured Platinum Visa®/MasterCard® has to offer.

The New Millennium Bank Secured Black Diamond Visa®/MasterCard&#174, issued by New Millennium Bank, is designed for those with limited or poor credit who may have difficulty in obtaining a standard unsecured credit card. Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide several benefits including auto rental insurance, up to $100,000 in travel accident insurance, and an extended warranty for purchases. Perhaps the best benefit is the free companion airline ticket, which is awarded to cardholders upon approval. The card also offers a referral program that rewards cardholders with up to $50 per approved referral. Although the APR applied to purchases is high for a secured card, this card does apply interest to the deposit amount required to secure the account, which is a nice benefit. This card also has a no credit check and no turn-down policy. There is an annual fee of $59, which is slightly above average for a secured card, as well as a one-time processing fee of $99.95 ($129.95 if the applicant would like to be issued both a Visa® and a MasterCard®). It is important to note that a drawback of the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. Therefore, those who do not mind accumulating finance charges once a transaction is posted and can afford the $300 minimum deposit will benefit most from what the New Millennium Bank Secured Black Diamond Visa®/MasterCard&#174 has to offer.

The New Millennium Bank Secured Gold Visa® / MasterCard®, issued by New Millennium Bank, is designed for those with limited or poor credit who may have difficulty in obtaining a standard unsecured credit card. Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide several benefits including auto rental insurance, up to $100,000 in travel accident insurance, and an extended warranty for purchases. Although the APR that is applied to purchases is high for a secured card, this card does apply interest to the deposit amount required to secure the account, which is a nice benefit. This card also has a no credit check and no turn-down policy. There is an annual fee of $59, which is slightly above average for a secured card, as well as a one-time processing fee of $69.95 ($99.95 if the applicant would like to be issued both a Visa® and a MasterCard®). It is important to note that a drawback of the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. Therefore, those who do not mind accumulating finance charges once a transaction is posted and can afford the $300 minimum deposit will benefit most from what the New Millennium Bank Secured Gold Visa® / MasterCard® has to offer.

The Ultra VX Visa® Card, issued by New Millennium Bank, is a stored value card designed for those who are looking for an above average secured card that also offers a reward program. Most often, secured credit cards do not have any additional perks or benefits; however, this card does provide a rewards program. Cardholders receive one point per dollar spent on purchases. Points can be redeemed for travel rewards with Southwest Airlines, American Airlines, jetBlue, Marriott, and more. Although there is no annual fee, there is an account set up fee of $29.95. There is also a monthly participation fee of $6.95 that amounts to $83.40 annually. In total, cardholders can expect to pay $113.35 in fees during their first year. The most unique feature of the card is the Credit-On-Demand™ option. Credit-On-Demand™ allows cardholders to increase their credit limit up to $25,000. Through the Credit-On-Demand™ feature cardholders are able to determine their credit limit by the amount of funds that are deposited into the cash balance of the account. Funds deposited into the cash balance of the cardholder account can be moved to the secured balance by making a purchase or moving the money to the secured balance. Advance payments can also be funded directly from the cardholder's paycheck or cardholders can load the card in person at 100,000 retail transfers. Therefore, those who are looking for an above average secured card that also offers a reward program and would like a card with limited fees may find the Ultra VX Visa® Card to be a beneficial option.

The First Option Visa® Card, issued by New Millennium Bank, is a secured card designed for people who have no credit history or who have had problems with credit in the past. This secured card establishes an interest yielding collateral savings account on behalf of the cardholder. Each deposit is funded by the cardholder and is applied to the credit limit, which can be as much as $5,000. Currently, the savings account earns an APR of 3% (6% for the first three months, 2% for the next nine months). Because the savings account serves as collateral for the secured card, cardholders will not be able to withdraw money from the account. The card has a fixed APR for both purchases and cash advances. The interest rate is considered high, even for a secured card. There is a $59 annual fee, in addition to an initial $99.95 processing fee that will be drafted once the cardholders identification is verified. There are no monthly activity fees for this card. If you are not approved for this card, the processing fee will be refunded. The First Option Visa® Card is a great option for people who need to establish credit history with the three major credit bureaus and who want to earn a generous interest rate on their deposits while doing so.

The Next Millennium MasterCard®, issued by New Millennium Bank, is a secured card designed for people who have no credit history or who have had problems with credit in the past. This secured card establishes an interest yielding collateral savings account on behalf of the cardholder. Each deposit is funded by the cardholder and is applied to the credit limit, which can be as much as $5,000. Currently, the savings account earns an APR of 3% (6% for the first three months, 2% for the next nine months). Because the savings account serves as collateral for the secured card, cardholders will not be able to withdraw money from the account. The card has a fixed APR for both purchases and cash advances. The APR is considered high, even for a secured credit card. There is a $59 annual fee that applies for this card. This is in addition to the initial $35 processing fee (for one card) or a $49 fee (for two cards). If a cardholder is applying with a co-applicant, a $10 processing fee will be required. If a cardholder requires rush processing, the fee for that service is $10. There are no monthly activity fees for this card. If you are not approved for this credit card offer, the application fees will be refunded. The Next Millennium MasterCard® is a good option for people who need to establish credit history with the three major credit bureaus, while earning interest on the amount deposited as collateral on the account.

The Public Savings Bank Secured Black Card, issued by Public Savings Bank, is ideal for those who are trying to improve their credit. This is because Public Savings Bank reports card activity to all three major credit bureaus every month. Because the Public Savings Bank Secured Black Card is a secured credit card, all applications are accepted, regardless of past credit history, or a lack of credit history. A secured credit card is one that is secured with a deposit. The amount of the deposit then becomes the cardholder's credit limit. The minimum deposit for this card is $300, the maximum is $10,000. The interest rate for the Public Savings Bank Secured Black Card is reasonably low, and the Public Savings Bank Secured Black Card has no annual fee. The application fee is $79. Applicants who are interested in improving their credit by using a low interest secured credit card will be best served by what the Public Savings Bank Secured Black Card has to offer.