Are you planning to have credit card in short future? Then, you need to find as much information as you can. It relates to which credit card offers many features and convenience. As a matter of fact, having credit card means having more debt to pay each month. It is also necessary to find the best bank that offers secured credit card. What banks have a secured credit card? Well, there are several bank options if you opt for secured ones.
Recommended Banks to Have Secured Credit Cards
Actually, there are plenty of bank choices that offer credit card with various features out there. However, not many of them provide secured cards. It is already shortlisted the two top banks that provide secured credit cards for the customers. What banks have a secured credit card? Here they are.
- Fifth Third Bank
The Fifth Third Bank offers wide ranges of benefits through their secured credit cards. It is mentioned that credit card released by this bank is convenient both for those who just started credit history and those who want to rebuild one. We can mention several advantages to gain once you apply this credit card. Let’s start from the small deposit needed to open the saving account, as few as $300. The important information about your account will be shared with big credit bureaus that will help you build the credit history.
In addition, any purchase that you make through credit card will be listed into your card charge instead of saving account. In short, your savings will be safe even though you make any kind of purchases. Talking about the APR, 25.49% will be charged on each balance transfers and purchase. However, this rate will vary according to the market rate.
In addition, there are great features that you will earn from this secured credit card. Let’s begin with the price protection. It refers to a convenience that allows you to get reimbursement for price difference if you are eligible. Furthermore, extended warranty from manufacturer will be another benefit offered by this commercial bank with secured credit card.
- Bank of America
What banks have a secured credit card in America? The answer is none other than Bank of America. This well-known commercial bank offers secured credit card with wide ranges of benefits. According to the official website, the credit cards from Bank of America will be the best choice to help build credit card. Furthermore, it is also designed to help strengthen your credit card as well as rebuilt credit. To enjoy the convenience, you can submit $300 of deposit to open an account.
It is kind of good news to know that you can get deposit return. The bank will make periodic review to your account. They will decide whether your credit history is qualified or not. If you are, it means you are eligible for deposit return. Bank of America charges 21.74% of standard APR with $39 of annual fee. So, what banks have a secured credit card you like the most?