The top secured credit cards with no credit checks with 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.
OpenSky Secured Visa Credit Card: Details and benefits: The two reasons you may want to apply for the OpenSky Secured Visa Credit Card is if you don’t own a checking account, but still want access to a credit card, or if you’re looking for a secured card with a decent annual percentage rate. For everyone else, the $35 annual fee should make this card a non-starter. That being said, OpenSky Secured Visa can help you build or rebuild your credit, as the issuer, Capital Bank, reports your monthly payments to the three major credit bureaus — Equifax, Experian and TransUnion.
Like other secured credit cards for people building or rebuilding credit, the Discover it® Secured requires a cash security deposit. Unlike most others, it offers rewards. But what really makes it stand out from the competition is its upgrade possibilities. The issuer has a process in place for automatically reviewing accounts for possible transition to an unsecured card. The Capital One® Secured Mastercard® requires a security deposit, as do all secured credit cards. But while most cards require you to put down a deposit equal to your credit line, this one allows some qualifying applicants to get a $200 credit line with a deposit of $49 or $99. Further, if you make your first five payments on time, you might get access to a higher credit line with no additional deposit.
The ideal recipient of a secured credit card is someone who has never owned a credit card or any other type of credit account, such as a loan. Such prospective customers have what’s known as a “thin file”, with minimal data at credit bureaus about their payment activity, and so will especially benefit from the credit history a secured credit card will help to build. Those with poor or bad credit, because of irresponsible credit behavior in the past, can potentially gain the same advantage from a secured card. More even than credit newcomers, these customers’ actions—such as habitual late payments, credit defaults, and bankruptcy declarations—can make lenders apprehensive. And that can leave those consumers with few if any options to rebuild their credit other than a secured card.
It is important to be wary of other cards that can dupe you into a credit check. They may invite you to “check if you’re eligible for a card” without a credit check. That sounds fine, and there’s nothing inherently wrong with going through an eligibility check — but you will likely have to pass a full credit check if you want to go ahead and order a card. If you’re considering one of these cards, then you might have a few questions. Let’s explore the most common questions people have about secured cards, so you can be sure you know exactly what you might be signing up to. Find more information on secured credit card.