www.newmillenniumbank.com - Secured Credit Card Application

Secured credit cards and guaranteed approval cards are a fast way to re-building good credit

Many times, the credit card company will determine that the consumer has some degree of risk and may only offer a secured credit card. When determining risk, they look at employment income, current debt and credit rating. If you have bad credit for any reason, a secured credit card may be your only option.

Having secured credit cards means you cannot spend more than you place on deposit. There is no risk to the credit card company, as they are not extending you any credit. Secured credit cards are a great starting place to re-establish credit or get credit started.

The application for a secured credit card is the same application for any credit card. Secured credit cards will still have fees attached for use of the card and terms vary widely between companies. Students who want credit will often receive this type of secured credit card. The benefits of having a guaranteed approval credit card is that it carries the credit card name like Visa or American Express and can be used to book travel or car rental, or make purchases on the Internet. Once credit is established and if credit history is good, it is reasonable to apply for an unsecured credit card.

Orchard Bank Secured MasterCard®

Orchard Bank Secured MasterCard®

Take your credit to the next level, with an Orchard Bank MasterCard®. With our reputation for outstanding customer service and a focus on credit education, Orchard Bank credit cards are highly regarded by our card members. Below are just a few of the many benefits the Orchard Bank MasterCard® provide: