Secured credit cards are great for building or maintaining credit. However, not all banks issue this type of credit card. This can be a problem if you really need it for your business. From hundreds of different banks, you might be one of Chase’s customers. You might have asked this question ‘does Chase have a secured credit card?’ Sadly, the answer is no.
These are some types of credit cards Chase offers: Freedom® Credit Card, Sapphire® Credit Card, MileagePlus® Credit Card, and Premier Plus® Credit Card. But none of them are secured credit cards. However, you can look for some alternatives that have the functionality you desire.
Some of the Alternatives for Secured Credit Card
The answer to the question “does Chase have a secured credit card” is no, so if you really need that secured credit card, whether to build credit or to keep track of your business spending, there are some good secured credit cards you can choose.
The first recommendation is the Capital One Spark Classic. If you have average credit, not an extraordinary one, this might be a good choice for you. You only need a credit score of 550 to get this card. With this simple requirement, you can improve your credit in the future. Also, your business money flow will be freed up.
The next secured credit card you can choose is the secured MasterCard. This one is an option if you do not possess enough credit score to get any other credit cards. Before reaching the sufficient score of 550, you can use another card responsibly to improve the current credit score. In the beginning, you can deposit as little as twenty five percent of your credit limit. Next, you can pay for the deposit you made in installments. There are also no hidden fees that might make it harder to improve credit score.
Another Cards Chase Offers
However, if you trust Chase more than any other card providers, consider choosing Chase Ink Business Cash or Chase Ink Business Preferred. This way, you don’t need to wander around with the question “does Chase have a secured credit card”.
Well, Chase Ink Business Cash will give you rewards based on the business spending. For example, you will get 5% cashback on cell phone and cable TV spending, 2% cashback at restaurant and gas station purchases, and 1% cashback on other purchases.
The Ink Business Preferred Card rewards you not in the form of cashback, but in points. You can use these points earned to redeem tour packages or anything else. However, if you choose this card, you will have to pay annual fee. This annual fee costs you about $95, but it is nothing compared to the advantages you get.
Maybe the advantages other cards offer will help you eliminate that annoying question, “does Chase have a secured credit card”. Now, you know that besides a secured credit card from Chase, you can still get many benefits. Choose your preferred card now and good luck with your business.