The Pelican Pledge Visa Card is a secured credit card designed to help individuals build or rebuild their credit. What sets it apart is its unique mechanism of leveraging your savings as collateral to secure a credit limit. When you apply for the card, you’ll be required to deposit a certain amount of money into an account that serves as collateral. The card issuer then provides you with a credit limit equal to or slightly higher than the amount you’ve deposited. This credit limit can be used like a traditional credit card for purchases, balance transfers, and payments.

The ideal candidate for the Pelican Pledge Visa Card encompasses a range of individuals who are either new to credit, have a limited credit history, or are actively looking to rebuild their credit. This secured credit card is particularly well-suited for those who may not have a high credit score or who have faced challenges in obtaining traditional unsecured credit cards due to their credit history.

Yes, one of the advantageous features of the Pelican Pledge Visa Card is that you can continue to earn dividends on the secured funds in your savings. While you use these funds as collateral to secure your credit limit, they remain in your savings account and have the potential to accrue dividends. This unique benefit ensures that your money continues to work for you, even as you work on building or rebuilding your credit.