Secured Credit Cards
A secured credit card requires you to deposit money into a savings account as security for your line of credit. The required deposit usually ranges from a few hundred to a few thousand dollars. Your credit line then becomes a percentage of that deposit—typically between 50 and 100 percent. Otherwise, the secured card works exactly the same way as an unsecured card—no one but you and your bank will know that the card is secured.
Because you deposit money into the bank before you can receive credit, it’s often easier to get accepted for a secured card than an unsecured one. For this reason, secured cards can be useful for establishing or rebuilding your credit history. However, secured cards typically have higher interest rates and annual fees than unsecured cards.
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Get approved for secured credit of up to $10,000!
- Receive free companion airfare upon opening your account
- Get the benefits of Platinum status including emergency cash transfers and travel accident insurance
- No credit check required!
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Don't just apply for any credit card. Inquire about the HSBC Orchard Bank MasterCard� and receive a specific recommendation based on your needs and credit profile.
- Enjoy the prestige of a Gold MasterCard
- Receive Gold card privileges and benefits
- Great credit card to strengthen or rebuild your credit
- Reports to all 3 credit bureaus monthly, which can help improve your credit score
- Free Online 24-hour Account Access and Bill Pay
- Periodic credit limit increases
- 4 Plastic Designs to Choose From
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