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BankAmericard® Secured Credit Card review
Looking to build or rebuild your credit? Check out our review of the BankAmericard® Secured Credit Card, a great way to start building your credit score fast.
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BankAmericard® Secured Credit Card: Unlock a world of opportunities and better credit!
If you’re looking for a secured card to help you start building credit or give your existing credit score some extra support, the BankAmericard® Secured Credit Card could be a solid helping hand.
How to apply for the BankAmericard® Secured card?
Learn how easy it is to apply for the BankAmericard® Secured Card and why you should consider this card as part of a financial plan.
- Credit Score: You can request the BankAmericard® Secured with a bad score.
- Annual Fee: There are no activation, monthly or annual fees.
- Intro offer: There’s no current promo for the BankAmericard® Secured.
- Rewards: This is not a rewards credit card.
- APRs: 25.49% (V) on purchases, 28.49% – 29.49% (V) on cash advances.
- Other Fees: 5% cash advance fee, 3% foreign transaction fee, $40 max late fee.
With an easy application process and low security deposits, this card is perfect for those just starting out with their credit journey or even those wanting to repair past damage.
So, you can choose your own spending limit between $200 and $5,000 with no membership fees.
Below, we’ll provide an in-depth review of the BankAmericard® Secured Credit Card so that you can make an informed decision about whether it’s right for your financial goals.
So keep reading to find out what makes this card stand out!
BankAmericard® Secured Credit Card: What can you expect?
The BankAmericard® Secured Credit Card is a great way to help you build or repair your credit. With no annual fee, fraud liability protection and mobile banking options, the card provides plenty of benefits.
You can use the BankAmericard® Secured to pay bills online, withdraw cash from ATMs, and make purchases everywhere Mastercard is accepted.
Bank of America also offers the opportunity to upgrade to an unsecured credit card based on your progress in building up a good credit score; meaning you won’t be stuck with a secured credit card for too long.
You’ll have access to your FICO® Score and credit education tools for free to help you keep track of your progress and manage your money more efficiently.
The minimum security deposit for the card is $200, and you can go as high as $5,000.
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Do the pros outweigh the cons?
Even good things come with pitfalls and this card isn’t exempt from that. Below, we’ll explore all aspects of this secured card – from its pros to its cons – so that you can determine if it’s worth considering. Let’s dive in!
Pros
- Bank of America reports all monthly payments to the BankAmericard® Secured to the three main credit bureaus;
- You can get your security deposit back with responsible use and on-time payments;
- Get free access to credit management tools and your FICO® Score monthly;
- Use the BankAmericard® Secured Credit Card anywhere Mastercard is accepted;
- Get security features to keep your account safe like Account Alerts, online banking, chip technology, and more.
Cons
- The BankAmericard® Secured has a high variable APR at 25.49%;
- You won’t qualify for any cash back or rewards with this card.
What are the eligibility requirements?
The BankAmericard® Secured Credit Card is a credit building product, so people of all credit scores can apply.
You need a U.S. citizenship, a valid Social Security Number and a valid U.S. mailing address to your name.
Additionally, you also need a checking or savings account with enough funds for the initial security deposit to your BankAmericard® Secured.
Learn how to request the BankAmericard® Secured Credit Card
Are you looking to take control of your financial future? Do you want to establish or rebuild credit and gain access to much-needed cash flow?
Then check the following link and learn how to apply for the BankAmericard® Secured Credit Card.
We’ll look over the entire process with all the requirements you need to meet so you can request your card easily and quickly. Read on!
How to apply for the BankAmericard® Secured card?
Learn how easy it is to apply for the BankAmericard® Secured Card and why you should consider this card as part of a financial plan.
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