Secured Credit Cards FAQS

April 12, 2018
You can apply for a secured credit card. You will need to put down a security deposit to get this card. A minimum security deposit is around $200 and it gets you the equal line of credit. Secured cards work like general credit cards and can be used everywhere they are accepted.
February 20, 2018
In order to get your deposit back you need to close your credit card account and pay your card balance in full. After you paid your card off, contact the credit card issuer to request a refund of your security deposit.
January 18, 2018
First of all, make sure your credit score is high enough to qualify. As a rule, airline co-branded credit cards are for people with good or excellent credit. Those whose credit is close to good credit, may also qualify for such card. Then, if your primary goal is credit building only, or even if you want to earn some points, Aegean credit card may not be as good. The card's rewards program is not one of the rewarding, and if you are planning to carry a balance, your points may be eaten by interest. When applying for a rewards credit card, it is recommended to pay off the card balance in full each month to get the most out of the rewards.
December 20, 2017
Yes. The OpenSky® Secured Visa® Credit Card is reported to the three major credit bureaus monthly. As this card is secured it requires a deposit to act as collateral on your credit card account. To build your credit make sure you make your monthly credit card payments on time. Skipped or missed credit card payments are also reported, so try to avoid being late. Late payments can easily damage your credit score.
December 13, 2017
Currently the OpenSky® Secured Visa® Credit Card cannot be updated to an unsecured account. Capital Bank does not offer unsecured credit cards for consumers. You can keep your secured card as the oldest credit account to continue building a good credit history. If your credit is high enough you can apply to the unsecured credit cards for fair or good credit and continue to raise your credit score.
May 23, 2017
If you haven't had a chance to establish your credit, a secured credit card is a good option to do so. And Skypass secured card is not an exception. Like any other secured credit card, this card is designed for someone with no credit or bad credit history. The card requires a security deposit, and the minimum deposit is pretty high - $300. It is possible to find secured credit cards with a lower minimum deposit. The Skypass secured card will allow you to earn miles on eligible purchases. If you manage your card responsibly for a year, you may be able to move to an unsecured credit account. The Skypass secured card is not the only secured credit card that offer rewards. There are other...
October 01, 2015
Before you start choosing a credit card, we would recommend you to check your credit reports first. Make sure you do not have errors on your credit reports and all personal information is up to date. Then you can apply for a credit card. Since it is your first credit card, you have two options to go with. The first is to apply for a credit card for people with no credit. These cards do not usually require down payments and may not have application fees. The second way is to apply for a secured credit card. Secured cards require a security deposit that should be paid before you get your credit card. Secured cards work like regular credit cards and can be used everywhere they are accepted.
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