- No credit check is required
Another great thing about OpenSky is that the company doesn’t implement a credit check when you apply, which is good news for many people with bad credit reports. The reason for this is because, as mentioned, you provide a deposit that equals the credit limit, so the company is not at a large risk. Moreover, for a credit card Mount Vernon payday lenders by OpenSky, you don’t even need a credit check.
- No required credit check for approval
- Set your own credit limit
- Helps build credit score
- Lower APR of %
- Annual fee of $35 and a foreign transaction fees and cash advance fee
We found comments from customers stating that with the help of OpenSky’s credit card, they were able to improve their credit report and later purchase their new home. Other users liked that they were able to obtain secured cards even with a poor credit score. The majority of the positive comments are about the company’s transparency and the amazing features it provides, including setting your own credit limit.
The Surge Mastercard is another top choice for us when it comes to secured credit cards for those with bad credit. It is issued by the Celtic Bank and serviced by Continental Finance. This credit card is intended for people with less than stellar credit who want to improve it in a short time, and it comes with terms that are convenient for many users.
- Application process
If you meet the requirements for getting a Surge Mastercard, then you can head to Continental Finance’s website and fill the application form that is quick and simple to understand.
All you need to do is provide your full name, address, city, state, zip code, SSN, and the amount of income that you get per month. To obtain such a credit card, you need to be at least 18 years old and a resident of the U.S.
- No security or minimum deposit needed
For Surge Mastercard, you have a credit limit between $300-$1,000, but you may also be able to increase it to $2,000 if you make your monthly payments on time. What is more, no security deposit is required for getting this credit card.
Once you are approved, you will be able to access the funds without providing a deposit. Also, Surge Mastercard is suitable for people that have bad credit scores, as your bank account activity will be reported to the major credit bureaus.
- Fees and interest rates
For this type of credit card, you also might get charged with certain fees, including an annual fee that ranges from $75 to $99 and a potential maintenance fee of $10 per month. Additionally, there is an additional one-time card fee of $30 and late payment and returned payment fees that cost $40 each.
If you are making transactions internationally, there is also a 3% transaction fee. For a cash advance, Surge Mastercard charges a cash advance fee of 5%. When it comes to APRs, for this credit card, it varies between % to % on purchases.
- Additional features
Moreover, cardholders can also download the mobile application from Continental Finance to view transactions, make payments, edit their information, and perform other activities. The mobile app is also compatible with both Android and Apple devices
In addition, the company implements security measures, which is very significant. To do so, they use advanced encryption technology to secure the clients’ data. Also, there is a Mastercard Zero Liability Protection, meaning that the cardholders are not responsible for unauthorized charges on this card.