Category Archives: All Secured Credit Cards



Centennial Secured Credit Cards Review

February 22, 2012   KID

Centennial Secured credit cards is issue by First PREMIER Bank.This specific secured  credit card offer basic secured credit cards features for those who have no or poor credit.And give you the ability to building you credit to apply a regular credit card.

Like other of secured credit cars to help establish as well as re-build his or her credit scores so long as the issuer reports to credit reporting agencies (see offer details below about reporting information). You can build, rebuild, or reestablish your credit by making on-time payments to all of your creditors and maintaining your balances under the credit limit.

The Centennial Secured Credit Card is a real credit card, not a prepaid or debit card. Your account activity reports monthly to the major Consumer Reporting Agencies and security deposits are held in an FDIC-insured account.

APR AND FEES

APR:19.9% The apr is depends on multiplying the “Average Daily Balance” for Purchases and Cash Advances outstanding through the monthly Billing Cycle by the monthly “Periodic Rate”. The monthly “Regular Rate” for Purchases and for Cash Advances is determined by dividing the ANNUAL PERCENTAGE RATE (APR) by 12. The monthly “Periodic Rate” for Purchases is 1.6583%, which is equivalent to an ANNUAL PERCENTAGE RATE of 19.9%. The monthly “Periodic Rate” for Cash Advances is 1.6583%, which is equivalent to an ANNUAL PERCENTAGE RATE of 19.9%. This ANNUAL PERCENTAGE RATE will be applied to fees assessed to your Credit Account as well as to Purchases and Cash Advances.

Annual Fee: $50 the annual fee is $50 per year.The Annual Fee will be charged on the first Billing Cycle after you have accepted this secured credit Card and in about the same price for next year.

Credit Limit Increase Fee:if you want increase your credit limit ,you need pay Credit Limit Increase Fee.the credit limit increase fee is the amount of the the credit limit increase.As an example: If approved to get a $100.00 credit limit increase, a $25.00 Credit Limit Increase Fee will be assessed to your Credit Account, which will result in an additional available credit of $75.00 on your Credit Account. This fee is automatically assessed upon approval of your credit limit increase, which could be as soon as your Credit Account has been open for 13 months. Refer to the Refund Disclosure for additional information.

other features
1.Security deposits are held in an FDIC-insured account
2.No credit history required
3.Your account activity reports monthly to the major Consumer Reporting Agencies
4.This is a real credit card – not a prepaid or debit card
5.Pay one security deposit on this credit card, instead of repeated reloadings with prepaid cards
6.Don’t be fooled by others; apply for a real credit card
overview
As with all secured credit cards, $50 annual fees and 19.9%interest rate is high. If you have bad credit,there are many other better secured credit cards which have low annual fee and apr !

 secured credit cards with low apr 

Public Savings Bank Open Sky Secured Visa Credit Card Review

November 17, 2011   KID

public savings bank open sky secured visa credit cardIf you want get a wonderful secured credit card,i recommended public savings bank open sky secured visa credit card.This card will help you building craedit ratings. if Iyou started using their card, your credit ratings have gone up because by opening an account with them and paying on time, Soon after you can obtain unsecured credit cards. I would recommend anyone to get this secured credit card if you use it correctly in the beginning you credit score can jump from below 500 to over 700…

The public savings bank open sky secured visa credit card is a secured card offer to people with bad or no credit who want to improve or build credit before they can apply for other credit cards with more benefits that require a higher credit score.

Public Savings Bank is a small bank.Public Savings Bank is founded in 1928,offerings business banking services includeing personal banking, business banking, lending, and premium financing. public savings bank open sky secured visa credit card is a popular secured visa card that has no credit check and reports to all three major credit bureaus, and six months 0% intro apr.

The feature of this card

Six months 0% intro apr.For a secured credit card,0% intro apr six month is unbelievable.The public savings bank open sky secured

visa credit card offers 0% intro apr on purchases for the first 6 months.

Credit line:
Same as other secured credit card,the credit line depending your deposit.The credit line can be minimum $200 and maximum $3,000.Unfortunately if you want increase your credit limit you need charges $25 every time.

Apr of this card
After 0% intro apr of six months.The already low 11.24 percent APR has been cut even lower, to 9.75 percent.
The Public Savings Open Sky Secured Visa Credit Card is one of the lowest rates of interest secured credit cards, compare with other unsecured cards) it also comes with a great deal.

Other benefits
No income and credit requirements

like other secured credit cards,Report to all 3 major credit bureaus.

$0 fraud liability

24-hour online account access

Other fees

High annual fee : $50(compare with other secured credit card with no annual fee )

Fee charged for credit limit increases : Credit limit increase fee: $25 (after first year).

No interest earned on security deposit.

No chance of getting an unsecured card

Balance transfer fee: Five percent, capped at $1,000.

Foreign Transaction: 1% of each transaction in U.S. dollars

Deposit APR Credit Line Annual Fee Pros
Minimum of $200 9.74%-11.24% $200–$3,000 $50 Low interest rate

overview 

if you can hold high annual fee and the $25 credit limit increase fee,If you are concerned about 0% intro apr six months and low apr after,this is the one of best secured credit card.Weigh the pros and cons and then decide to apply. Building credit is a serious matter that should be made a priority in your life

High Limit Secured Credit Card For Bad Credit

October 29, 2011   KID

The secured credit card functions like a traditional unsecured credit card except that it requires you to make a cash deposit at the issuing bank as colleteral so that the bank can take the money you owe from your account in case you fail to pay off your balance. The cash deposit you make generally equals 50%~100% of your credit line. Most secured cards have a $200~$5000 limit, but for some you can extend your limit to as high as $10000. A high credit limit means that you can enjoy more freedom in your spending without worrying about crossing the line. There are some good secured credit cards out there in the market that are not so stingy about credit limits and credit limit increase.

But the Secured credit cards have higher interest rates than unsecured credit cards, annual fee , monthly fees.but if have no or bad credit,you only choose secured card. make a few purchases each month and pay the entire balance each time the bill comes. In many programs, good behavior with a secured card will earn you an unsecured card in the next year.

1.Best secured credit card with high credit line-Wells Fargo $300-$10000 credit line
The highest secured credit card limit was the Wells Fargo, you can get up to $10,000 credit line– provided you have the security deposit to equal it. Wells Fargo also offered one of the lowest annual fees and APR rates.

Wells Fargo Secured CardLow Annual fees:
Annual fee: $18. It requires $18 per year as annual fee, which is quite modest and acceptable compared to others which can charge as high as $50.
Late payment fee: $20 to $39.
Returned payment fee: $39.
Balance transfer fee: 3% of balance transferred.

A variable of 18.99% on purchases and balance transfers based on your credit worthiness you have shown while using this card.The APR is pretty average compare with other secured credit cards.

Credit Limit
The size of credit limit can range from a minimum of $300 to a maximum of $10,000 depending likewise on your security deposit.

Several cards offer limits between $3,000 and $5,000.

2.Capital One Secured Mastercard
credit line : $200–$3,000

3.Navy Federal Credit Union nRewards Secured Card
credit line : depending your deposit.But you must first be eligible to be a member of Navy FCU to qualify.

4.Citi Secured MasterCard
credit line : $200–$5,000

5.Orchard Bank Secured MasterCard
credit line : depending your deposit.

American Savings Bank Student Secured Visa Card Review

October 23, 2011   KID

The American Savings Bank Student Secured Visa Card is a unique secured credit card offered by the American Savings Bank specially designed for full-time undergraduate or graduate students who are at least 18 years old. The card offers many benefits that are even rare to a traditional credit card. So if you are a student who are on your way to building your credit, you might consider applying for this card.

if your have American Savings Bank Student Secured Visa Card.you won’t need to carry a lot of money,or dip into personal savings for extra expenses. It’s just like a regular Visa card, except that your line of credit is secured by funds held in a Statement Savings account at American Savings Bank.

The following are some of the major features of this card:

It is accepted worldwide wherever you can see a Visa logo for purchases or cash advances.

No annual fee.it’s a wonderful benefit.all most secured credit card have $19-$99 annual fee.

It offers a fixed interest rate even though the exact APR rate and other interest rates are not published online yet. If you are interested, you may call the American Savings Bank customer service department to get a current list of rates.

Security deposit: The security deposit must be 10% more than the credit limit considering that the majority of the cardholders are college students who are not totally financially independent. For example, if you want your credit line to be $1000, you must put down $1,100 for security’s sake.

Unlike other secured credit cards which are stingy about rewards, the American Savings Bank Student Secured Visa Card bear a lot of benefits, including gift certificates, travel packages and a car rental insurance up to $200,000.

In addition,students will receive free access to the online credit card account, free e-statements, 0 liablility for unauthorized purchases.

Other Benefit

Fixed interest rate

Monthly Payments

Flexible payment schedule: pay minimum due, statement balance, current balance or other amount

May be made automatically as one-time or recurring payment through online banking

Visa’s Zero Liability policy on unauthorized transactions3

Up to $200,000 Travel Accident Insurance

Auto Rental Collision Damage Waiver at no additional cost

overview 

With no annual fee and a generous reward program secured, the American Savings Bank Student Secured Visa Card is quite a catch for students who want to take their own financial behaviors under control.

Aventium Classic Credit Card Review

October 20, 2011   KID

aventium classic credit cardThe Aventium Classic Credit Card is one of the many secured credit cards issued by First Premier Bank. Unlike other secured cards, the Aventium Classic Credit Card is partially secured, which means you can get a $300 credit line by depositing only $75. Sounds exciting? I’m sure you won’t be after you have gone through all the terms and conditions.

Who this card is fit for?

People with a bad or no credit at all and are trying to renew their credit.

Fees

Annual fee: $75. You will have to pay an annual fee of $75 to maintain the $300 credit line. This is something that will definiterly thrill the potential applicants. You don’t need to deposit a certain amount as colleteral to use this card for it will be included in the annual fee.

Processing fee: $95. You have to pay $95 to activate your account.

Online account accessing fee: $3.95 for each occurrence. You can avoid paying the extra fee by keeping a record of the charges and payments made on your account.

APR

The APR can be as high as 49.9%. but on the positive side, the 49.9% APR may force you to form a habit of paying off your balances on time at full.

Credit limit

Cardholders can have a credit limit of up to $300 by paying an annual fee of $75. But if you show good credit, the bank might offer you a credit increase. Considering that this is a partially secured card, the credit line increase only costs half of the increased amount. For example, if you want a $500 increase in your credit line, you only have to pay $250 for that.

You also need to open a checking account at the First Premier Bank first. The bank is prompt at approving your application, so you can expect to use the card soon after you apply. It helps consumers with bad credit to rebuild their credit by reporting to major consumer reporting agencies monthly. However, the costs of rebuilding credits is so much that some people even refer to the The Aventium Classic Credit Card as “fee harvester”.

Deposit APR Credit Line Annual Fee Pros
Minimum of $300 49.9% Depend on your deposit $75 Low deposit

The First Progress Secured Platinum MasterCard® Credit Card review

October 14, 2011   KID

First Progress Secured Platinum MasterCard® Credit CardThe First Progress Secured Platinum MasterCard® Credit Card is one of the best secured credit cards issued by Synovous Bank with great incentives for people who are struggling with a bad credit. No good credit or little credit is required of the applicants. Provide a minimum security deposit and identity proof, you are instantly qualified for the applacation.

Fees
Annual fee: $39.
Cash advance fee: $10 or 3% of each advanced amount, whichever is greater.
Late payment fee: up to $35.

APR
14.99% for all purchases and 19.99% for cash advance. Free of APR during the introductory period, which lasts 25 days. You can avoid paying the interest by paying on time at full.

Credit limit
You can choose a credit limit between $300 and $2000 based on your security deposit. The initial maximum credit is $2,000, but you can extent it up to $5,000 over time if you present trustworthiness in your credit. Unlike a checking account, you won’t earn any interest for your deposit. There’s no need to worry about losing your security deposit, because it is insured by the FDIC in case the bank declares bankcruptcy.

Free online account.
Applications for the card are only available online and not by phone so as to avoid identity theft and fraud. You can enjoy the convenience of checking out your account on line any time you want.

Get instant approval once you have made online appilcation.

Regular report to 3 major credit rating bureaus. This is extremly helpful for those who are working on rebuilding their terrible credit.

With a low level of annual fee, APR and interest rate, the First Progress Secured Platinum MasterCard is one you should consider if you are in desperate need of restricting your economic behavior and rebuilding your credit.

 

Applied Bank Platinum Zero Secured Visa Credit Card Review

October 13, 2011   KID

Applied Bank Platinum Zero Secured Visa Credit CardApplied Bank has been in business since 1996 and they specialize in providing credit cards, either secured or unsecured
The Applied Bank Platinum Zero Secured Visa Credit Card, as is implied by the name, is a secured credit card issued by the Applied Bank for people with bad credit or no credit history. With no annual fee and a low fixed APR, it might be an ideal choice for people in need except that it charges a skyrocketing maintenance fee of $9.95 every month.

No annual fee.Credit cards with no annual fee imply no charge for annual servicing of your account.

High monthly maintenance fee. Although the bank claims that it does not charge any annual fee, it eats up your money by imposing a high monthly fee of $9.99, which equals to $119.4 per year. However, you must know that even if you do not have to pay such a high fee with other cards, they do charge you heavily on additional fees like transaction fees and deposit fees to compensate for that.

You will be charged a penalty fee of $32 if you fail to pay off your balance.

They will reporte to all (3) bureau’s even though they do not say they report to all three.

Online Banking. you can Pay your bill check your balance online.

Fees for cash advance: 9.99% of the amount. If you done’t repay the money you have withdrawed at full amount, you will have to pay an interest rate of 9.99%. This is not a popular feature since you have to pay interest for withdrawing your own money. However, comparatively speaking, the fee is reasonable among a large number of cards, secured or unsecured, that have a cash asvance fee.

Fixed 0% APR on purchases
This is one of the best features of this card. A fixed 0% APR on purchases any time you use the card to buy things, not just within the introductory period.The interest rate won’t change even if you can not make on-time payments. It is the most attractive feature for people who like to buy first stuff and then pay it off over time.

Credit limit: You can choose a credit line between $500 and $5,000. but first you need to open an account at the Applied Bank and put in a certain amount of money as security deposit which is equal to your limit. Don’t expect to get any interest for your deposit and you account can fall below $100. Since the Applied Bank is FDIC insured, even if it fails or declares bankruptcy, you can still get back the money that you put as a deposit as that is insured by the US government.

The Applied Bank Platinum Zero Secured Visa Credit Card bears other benefits like free theft protection(but the money in your account has to be over $500), 0 fraud liablity and regular report to credit rating agencies, which you will find extemely helpful if you are trying to restablish your credit.

BBVA Compass Secured Optimizer Card Review

October 12, 2011   KID

BBVA Optimizer Credit Card ReviewThis secured visa card is one issued by the BBAV Compass with acceptance at more than 28 million locations all over the world. What makes it different from other secured credit cards is that it does not bear a credit limit, which means that you can spend as much as you want as long as you deposit enough money as colleteral.

Who this card is suitable for?
People with a low credit or no credit at all since this card is aimed for people with troublesome credits. But if your FICO credit score is above 440, your chances of being approved is much higher. You can graduate to a better card if you demonstrate trustworthy credit behavior.
Fees

This secured card takes requires a deposit in an interest-bearing savings account, you can increase your credit line by deposting more money into the account

Annual fee: $40, which is almost unacceptably high even in the secured credit card arena.

Cash advance fee: $10 or 4 percent of the advance amount, whichever amount is higher

Late-payment fee: $35

Returned payment fee: $25

credit limited:

You can increase your spending limit at any time by adding more money to your BBVA savings account.

APR: The card has a variable APR which changes as U.S prime rates fluctuate. The lowest APR is 16.24%, lower than many secured credit cards targeted at people with bad credits. The APR is waived for the introductory period, which will be at least 25 days.

Rewards:

None. This is no surprise since most secured credit cards come with no perks.

The BBAV Compass Optimizer card charges a high annual fee but offers a relatively low APR. It does not impose a credit line, so it might be ideal for people who tend to be lavish in their purchases. The most important thing is that you need to pay your balances on time at full, or it will cost you dearly.

Deposit APR Credit Line Annual Fee Pros
Minimum of $200 16.24% Depend on your deposit $40 interest-bearing collateral savings account

 

Fifth Third Bank Secured Mastercard Review

October 11, 2011   KID

fifth-third-bank-credit-cardThe Fifth Third Secured MasterCard is one of the many secured credit cards on market. With an annual fee of $24 and an interest rate of 24%, the Fifth Third Secured MasterCard is a reasonabley-priced credit card.

Who the Fifth Third Secured MasterCard
People who have been turned down for an unsecured credit card and are trying to rebuild their credit. The credit rate required is below 600(poor or bad).

Fees

Annual fee: $24, which is quite reasonable, if not satisfactory.
Balance transfer fee: 4% of balance.
Late payment fee: Up to $35.

APR

23.99% on purchases and balance transfers.
Penalty interest rate: 24.99%.

Credit limit

Like any other secured credit card, the bank requires you to deposit a security account first as colleteral before you can make purchases with this card. The minimum deposit required is $300. Your deposit depends how much you can spend. But do not mistake the security deposit for your payment. The money you put in as security deposit does not cover your payment, which means you still have to pay your bills due .

Other benefits

MasterCard Zero Liability
Protection from unauthorized purchases charged to your card.

Purchase Assurance
If something you bought with your credit card is damaged or stolen within ninety (90) days of purchase, you may be eligible to receive reimbursement for the cost to repair or replace the specific item.

Master RoadAssist Service
Get help 24 hours a day, seven days a week if you ever encounter a problem while driving.

You can get free protection for your cellphone if you pay your phone bill each month with your credit card.

Enjoy up to 15% discount for purchases on SmartSavings and other retailers all through the country when you pay with this card.

One of the most undesirable disadvantage about this card is that it is not available in all states. You can not use this card in 14 states which is out of the reach of the bank. Another disadvantage is its high interest rate, but you can avoid that by paying your balances on time.

Overall,I don’t recommended this card.there are many good secured credit card in the market.

For a lower priced secured credit card,The Wells Fargo Secured Card is more better.whose annual fee only $18 and a relatively low APR 18.99%.

For a lower apr secured credit card.The Orchard Bank Secured MasterCard is better than Fifth Third Secured MasterCard.whose $35 annual fee is waived the first year and has 7.9% purchase apr.

Deposit APR Credit Line Annual Fee Pros
Minimum of $300 23.99% Depend on your deposit $24 AFree Internet Banking and Bill Payment

Navy Federal Credit Union nRewards Secured Card review

October 04, 2011   KID

The Navy Federal Credit Union nRewards Secured Card is probably one of the best secured credit cards you can find. It comes with generous rewards which can only be found on unsecured credit cards.

There is no annual fee and the interest rate is relatively low. The only requirement is that you have to be a member of the Navy Federal Credit Union. It is not as difficult as you think to join the union. If you happen to have a family who works or worked for the armed forces, but you must first be eligible to join this large credit union. It might not be as hard as you think.

If you can join Navy Federal Credit Union,this is one of best secured credit card.
Navy Federal Credit Union membership is open to uniformed personnel in all branches of the armed forces – not just the Navy – plus the National Guard, retirees, civilians who work at Department of Defense installations, as well as their family members. So, if your grandfather was in the service, he can join if he’s not already a member, and you can too.

Who the card is for?
People who are members of the Navy Federal Credit Union and do not have a sound credit history.

Fees
No annual fee.

Balance transfer fee: None.
Late payment and returned payment fee: up to $20.

APRs
8.99% to 18% on purchases. You are sugguested to use this card to carry a balance considering that there’s no annual fee and balance transfer fee, and the APR is low.

Rewards
Earn 0.5% to a full 1% cash back for purchases depending on how much you spend. You get one point for every dollar you spent with this card. For example, if you spend $1000, you will get 5 points(0.5%) in return. When your spending reaches a high $7500, the cash back you can earn is as much as $75(1%). The cash back is redeemable for giftcards and certificates on your account. Points expire after 4 years and there is no limit on how many ponits you can earn.
Reward examples:

2,000 points for $10 gift card from Starbucks or Applebee’s
3,500 points for $25 gift card from Best Buy or iTunes Music Store
7,500 points for $75 Gap® or Navy Federal Visa Awards Card

Anyway, The Navy Federal Credit Union nRewards Secured Card is an excellent secured credit card that you will regret for missing it for there is no annual fee, balance transfer fee or whatever fee imposed on it which is quite common on other secured cards. And it offers a generous reward. With this card, you are actually enjoying privileges only reserved to people with excellent credit.

In my opinion

Unbelieveable this card is. The very thought of loosing it is the worst experience in life anybody could ever have. I mean it would be a nightmare through life without the power this card posses and the gift of a lifetime opprotunity.

 

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