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What is the minimum deposit for a secured credit card?
$200
Most secured cards require a deposit of at least $200 or $300, although at least one card has an option for a lower deposit. Every secured card allows you to deposit more than the minimum, but most set a maximum deposit amount. Your deposit is usually equal to your credit limit.
BankAmericard® Secured Credit Card from Bank of Americahttps://www.bankofamerica.com › Credit Cards
A secured credit card can help establish, strengthen and even rebuild your credit. Apply for the BankAmericard® secured credit card
How do you get your money back from a secured credit card?
You can get your secured credit card deposit refunded when closing your credit card or when the issuer upgrades you to one of their unsecured credit cards. Secured credit card issuers will eventually return your security deposit by sending the funds to your bank account, issuing a check or providing a statement credit.
Does Bank of America secured credit card report?
Yes, the BankAmericard® Secured Credit Card can help build credit, as any credit card can. Bank of America reports card activity to all three consumer credit bureaus. If you follow good credit-building habits, including paying the bill on time, then your card activity could increase your credit score.
Key Moments In This Episode
00:15 Best Bank of America Bankamericard Secured Credit Cards
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