Why would I get the Secured Mastercard when there's a regular secured card?
PlusCredit Website
Last Update hace un mes
A traditional secured card pulls your credit, and you might get declined, which can affect your credit score. If approved, the lender sets your limit based on its own criteria.
The PlusCredit Secured Mastercard® works differently. There is no credit check. We verify your identity using your government-issued ID, and that's the extent of it. You decide your own spending limit up to $10,000, and that amount becomes your refundable deposit.
If you don't need to build credit and want a simple spending card instead, take a look at our Prepaid Mastercard®. It has no deposit, no credit check, and no credit reporting.
The PlusCredit Secured Mastercard® works differently. There is no credit check. We verify your identity using your government-issued ID, and that's the extent of it. You decide your own spending limit up to $10,000, and that amount becomes your refundable deposit.
There's also zero interest on our secured card, which keeps your costs predictable every month.
Your usage is reported to Equifax every month, so you build your credit file. You also earn cashback on purchases. When you close your account, we return your deposit.
If you don't need to build credit and want a simple spending card instead, take a look at our Prepaid Mastercard®. It has no deposit, no credit check, and no credit reporting.