You should be able to find numerous credit card options in the market that are readily available for anyone who is looking to rectify their credit. If you are looking for a credit card for bad credit with no deposit, you should be able to find numerous alternatives. They all have different features and benefits and this means that picking one that is suitable for your lifestyle and purchase habits should not be that difficult. When it comes to credit cards with deposits or as we like to call them, “secured credit cards for bad credit” you should be more careful. It will be beneficial for you if you have a bit of cash on your hand in order to secure these credit cards.
Let us have a look at 2 of the most popular credit cards which are Applied Bank Secured Credit Card and Assent Platinum Credit Card
This is a highly popular financial instrument and is relatively more expensive than its counterparts in the market. It offers a few benefits but is highly recommended for people with bad / poor credit. It will give you the perfect opportunity to improve your credit score and if you are responsible with its use, you should be able to get your finances back on track.
Fixed APR
There is a fixed annual percentage rate that should be an impressive feature to consider. Unlike most secured credit cards available in the market the Applied Bank Secured Visa Gold Preferred card holders are at a big advantage. They have to pay just a fixed interest rate and this means that there will not be any sudden increase in this rate in the future.
Global acceptance
This credit card is very useful for the traveler. If you travel for business or leisure, this credit card is for you. It is acceptable everywhere. This can be used across the globe wherever Visa cards are accepted.
Mobile access
You get instant access to mobile banking and your online account information through a dedicated mobile app. You can check your balance and monitor each and every credit activity on your credit card from absolutely anywhere. This gives you a lot of freedom and complete control over your finances.
Initial Security Deposit
The one thing that you are going to notice about this credit card right off the bat is the refundable security deposit. These are ideal for people who have no credit in their name and are probably struggling with their finances. It is going to require an initial security deposit but this is going to play out well for you. This deposit is going to act as the credit limit on your card account as well as collateral. The minimum deposit that you have to pay is $200 and the maximum limit goes to $2,000. To add a cherry on top, it also has an intro rate of 0%.
Is It Advised To Apply For The Ascent Platinum 0% Interest Rate MasterCard Secured Credit Card?
The 0% APR should be a deal maker for you. But if you are looking for tiny nitty-gritties of this credit card, you should know that there is a $49.00 annual fee which is a bit higher than several other credit cards in the market. However, the biggest benefit that still attracts most people towards this credit card is the 0% introductory rate which is going to last for 6 months on all purchases.
There is no limit to increasing your credit whenever you want. However, the bank is going to take its time to consider your application if any increase in credit limit is requested. Now depending upon your financial situation and your purchase habits you have to make a decision that is going to affect your money for several months to come. Choose wisely.