Secured Credit Card Rates as Low As
APR Effective 1/1/2020*
What are secured credit cards?
A secured credit card looks and operates like a regular credit card. The difference is that it requires a cash security deposit that the lender “holds” to secure the funds . They're an ideal way for people to build credit or reestablish a credit history.
Features & Benefits
- No monthly or annual fees*
- Approval is often easier (although not guaranteed)
- Can help you establish or re-establish good credit history
- May improve your credit score
Who's it For?
Anyone can apply for a secured credit card, but it's best for people with little to no credit history. They're ideal for building credit, and a great first step to take when trying to get a credit score that will help you get approved for larger forms of credit down the road, such as a home loan, personal loan, auto loan, or another credit card with a higher limit.
How Do Secured Credit Cards Work?
They work just like any other traditional credit card. The most important and critical piece to remember, though, is factoring in the aforementioned security deposit.
A security deposit does not mean a cache of money you can draw upon to make your monthly payments. Instead, think of it like the deposit you give your landlord when you rent an apartment.
How to Apply
To apply for this card, you'll need to call us directly at 800-233-2328 or stop by a BECU Location .
Frequently Asked Questions
Expand Will I get my deposit back?
Have more questions? Contact us at 800-233-2328 or stop by a BECU Location to talk to a Member consultant.
*Approval subject to BECU membership, credit approval and other underwriting criteria; not every applicant will qualify. Credit Card programs, services, rates, terms and conditions are subject to change without notice. Contact BECU for the most current information. Your APR will vary with the market based on the Prime Rate. Please refer to the Credit and Security Agreement for the terms and conditions, fees, and charges, and other information regarding your credit card account. Other fees may apply. BECU's secured credit card rates in effect as of 12/1/2019 range from 8.40% to 19.40% variable APR and are subject to change without notice. The actual APR will be determined when you apply and will be based on your credit worthiness.