The 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.