At a Glance
Designed for establishing, building, or even rebuilding one’s credit score, the BankAmericard® Secured Credit Card offers the tools needed to strengthen your financial standing while covering everyday purchases.
The Gist
The BankAmericard® Secured Credit Card is a trusty – and beneficial – form of payment if your credit score could use more attention. Like a traditional unsecured credit card, you can make purchases anywhere Mastercard is accepted, and you can conduct balance transfers and cash advances. The card can be used for purchases in foreign currencies (though a fee will be assessed), and best of all, Bank of America will report your activity to the major credit bureaus – making it simple to rise through the ranks of borrowing.
In addition to reporting your activity, Bank of America does you the same favor by providing you with monthly FICO® Score reports. These allow you to view the status of your credit score and learn about the factors that affect it. Along with these reports come a number of learning resources that you can access to become more knowledgeable about budgeting and responsible credit card use.
As with any secured card, you’ll need to place a security deposit that will count as your line of credit. A minimum of $300 is required, though over time you may be eligible to have your deposit refunded.
Apply for This Card if You:
- Want to build or improve your credit score
- Are looking to improve your spending and budgeting habits
- Want to stay informed about the impact of your credit card usage on your credit score
- Want a card that won’t penalize you by raising your interest rate
Editorial Disclosure — The opinions expressed on BestCards’ reviews, blogs, and all other content on or relating to the website are solely those of the content’s author. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. Further, BestCards lists credit card offers that are updated daily with information believed to be accurate to the best of our knowledge.