A secured credit card is an account that’s used to build up someone’s credit health. It follows a similar application process compared to unsecured cards. The biggest difference is that a deposit is required to open the account.

Highlights of a secured credit card:

• The deposit becomes the collateral that “secures” the credit limit.
• The amount of the deposit equals the approved line of credit.
• Purchases are billed monthly.
• Payments are due monthly.
• Balance and payment history are reported to all credit bureaus.

Visit our U.S. Bank Secured Visa Card page to learn more.