The top secured credit cards with no credit checks by eastwoodbank.com
The top secured credit cards with no credit checks from Eastwood Bank? The Credit Builder Secured Visa® Credit Card from Armed Forces Bank makes it easy to increase your credit line over time to give you greater flexibility and keep your credit utilization low. You can increase your limit in $50 increments simply by depositing more money at any time. The no-annual-fee Navy Federal Credit Union® nRewards® Secured Credit Card earns rewards, offers an upgrade path and even features some perks, which is a lot from a secured product — if you can swing the membership and security deposit requirements.
Who should get this card? If you don’t have a bank account and/or your credit check would make a traditional credit card issuer avoid your calls, an OpenSky secured credit card may be just what you’re looking for. But there’s no reason for most people to pay the $35 annual fee. We caution most consumers to avoid paying such fees on secured cards, as there are plenty of annual-fee-free options for consumers with limited credit.
Although the issuer will check your credit when you apply for the First Progress Platinum Elite Mastercard® Secured Credit Card, it’s not a “hard” credit inquiry, so it doesn’t affect your credit score. That can be a benefit when every point counts. Although it’s always best to pay your credit card in full each month, especially when you’re trying to build credit, the low interest rate on the First Progress Platinum Prestige Mastercard® Secured Credit Card takes a much smaller bite when you do carry a balance. The downside: A substantial annual fee.
Provided you make on-time payments with a secured card, your security deposit remains untouched and is remitted back to you should you ever close the account. Some issuers even pay you interest on the deposited funds. In time, given a positive record of making payments, issuers may grant you a credit limit that exceeds the security deposit. Eventually, the issuer may also offer you the option to upgrade to a regular—that is, unsecured—credit card. In many cases, that allows the account to remain open, and its increasing age to be an asset to your credit record, which generally rewards having older accounts. If that option isn’t available, though, one can simply close the secured account and apply for an unsecured card once you’ve attained a solid credit score. The free score-monitoring feature offered by most secured cards allows you to track your progress.
If you are unable to obtain a standard credit card, or just don’t want your credit score to endure any additional searches, does that mean you’re cut off from obtaining a credit card? The answer is no. Though it’s a little more complicated than a standard application; what you need is a secured credit card. What Is The Difference Between A Standard and a Secured Credit Card? Secured cards are secured for the lender. They will provide you with a credit card, and a credit limit, which you can use as normal. However, they hold your deposit as a security against any balance you accumulate. Read additional information on secured credit card.
