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You are here: Home / Credit Cards / BankAmericard® Secured Credit Card

BankAmericard® Secured Credit Card

June 10, 2021 by Matthew Chaffin

The BankAmericard® Secured Credit Card is designed to help you rebuild your credit . A minimum $300 refundable security deposit is required, but the card charges no annual fee.

BankAmericard® Secured Credit Card
Learn More
Our Rating
4.5/5.0
Welcome Bonus
None
Annual Fee
$0
0% on Purchases
None
Rewards Rate
N/A
0% on Balance Transfers
None

Snapshot

  • Refundable security deposit (minimum $300, maximum $4,900)
  • $0 annual fee
  • APR of 22.99% (variable and subject to change)
  • Reports to all 3 credit bureaus
  • Free access to your FICO score

Editorial Review

The BankAmericard® Secured Credit Card operates as a standard credit card. This card will help build your credit and to open your account, you will need a minimum refundable security deposit of $300.

Pros & Cons

Pros

  • Refundable security deposit
  • $0 annual fee
  • Reports to all 3 credit bureaus
  • Free credit score access (updated monthly)

Cons

  • High APR
  • Foreign transaction fee
  • No signup bonus or rewards

Features and Benefits

  • $0 Liability Guarantee- Receive notifications about any fraudulent transactions
  • Mobile Banking- Pay your credit card bill online as well as transfer funds, and more
  • Account Alerts- Receive mobile alerts via text or email when payments become paid or are due
  • FICO® Score Program- Free access to your credit score that is updated monthly
  • Overdraft Protection- Prevent overdrafts, returned checks, or any declined purchases with this optional feature

Approval Odds

Credit card companies consider a number of factors when evaluating an application. These factors may include income, debt, existing credit cards and, of course, the applicant's credit score.

While credit card issuers do not publish the criteria for approval, we collect publicly available data on credit scores for those who have been either approved or denied for a credit card. Keep in mind that we cannot verify this information and an issuer's credit score requirements can change over time.

  • Approved (05/28/2020): 571 (Equifax)
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