Rating: 4 Stars
Bottom Line:
Build Credit But With A High Deposit
TABLE OF CONTENTS
Card Details
| Regular APR: | 24.74% (Variable) |
| Intro APR (Purchases): | None |
| Intro APR (Balance transfers): | None |
| Rewards Rate: | None |
| Credit Needed: | (0 – 300) Limited/No |
| Annual Fee: | $0 |
| Card Brand: | Mastercard |
*See online credit card application for details on the terms and conditions.
Offer Highlights
- Click APPLY NOW to apply online
- Help build your credit; A secured credit card designed to help establish, strengthen or rebuild credit
- A minimum refundable security deposit of $300 (maximum of $4,900) is required to open this account. Your maximum credit limit will be determined by the amount of the security deposit you provide, your income and your ability to pay the credit line established. If you provide a deposit that exceeds the calculated maximum amount based on your ability to pay, a check will be returned to you for the difference.
- Now, you can access your FICO Score updated monthly for free, within your Mobile Banking app or in Online Banking. Opt-in to receive your score, the key factors affecting your score, and other information that can help you keep your credit healthy.
- We?ll periodically review your account and, based on your overall credit history (including your account with us and other credit cards and loans), you may qualify to have your security deposit returned. Not all customers will qualify.
- Access to credit education on topics like using credit cards responsibly, budgeting and more
Is BankAmericard Secured worth it?
BankAmericard Secured is a great card for people looking to increase their credit score by making a deposit. This card does not offer rewards.
Pros
- Build your credit
- No annual fee
- monthly reporting to all 3 major credit bureaus
Cons
- Not the lowest minimum security deposit ? $300
- Foreign transaction fee
Why 4 Stars?
Regular APR
4 Stars
Intro APR
4 Stars
Fees
4 Stars
Perks
4 Stars
Overall
4 Stars
Fees
| Foreign Transaction Fee | 3% |
| Balance Transfer Fee | 3% of the amount of each transaction or $10, whichever is greater |
| Cash Advance Fee | See Terms |
| Penalty APR | None |
Benefits
$0 Fraud Liability
Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.
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