A secure credit card works like a conventional (unsecured) credit card – you make a purchase with it, and you will make a payment on the card that will go to the financial institution that issues. The only major difference in a secure card compared to a conventional card? The guarantees you need to withdraw first. Use the longest password you use comfortably, the length of the password increases security with each additional sign. We recommend at least 16 characters. When lenders make decisions about lending forms of credit, such as Z.B. Home loans or auto loans, your credit history plays a central role. If you don`t have any credit history, it may actually work against you. Here, a secure credit card can be a great help: timely payments on a secure card with a balance of only a few hundred dollars can be the first step to establishing yourself financially and help you get a healthy credit score. You can update these security options at any time – just log in to the online bank and move on to managing security options under your profile. The security of your account is important to us. It is important that you know what we are doing to ensure that your accounts are protected and how you can protect yourself. For more information, please visit our Security Resources page. In addition, secured credit cards are also guaranteed by a cash deposit from the cardholder.

The deposit serves as a guarantee to the lender to secure the money And, as with traditional credit cards, a secure card may be subject to fees, including, but not limited to monthly maintenance fees and payment penalties. Another fact worth mentioning is that the APR (annual percentage) of a secure card is often higher than its unsecured counterparts. On October 23, 2019, the average APR credit card is 17.37%. Our websites are secured by industry-sensitive digital certificates and encryption and session cookies to obtain personal data for members` transactions. We only support browsers that can provide industry-accepted encryption protocols. These safeguards ensure that you are indeed dealing with BECU, not a scam page that embodies us. Your connection to our websites uses Transport Layer Security (TLS) to protect message content from eavesdropping and eavesdropping. Our security measures are only part of what is needed to ensure that you are protected, as no security is perfect. It is your responsibility to use current software and activate security features such as anti-virus protection, anti-malware and only via reliable networks. Your computer`s browser communicates with our computer, systems and websites. There are two groups of people who can benefit greatly from the use of a secure credit card: a secure credit card can help you create or restore your balance. A secure credit card can help you create or restore your balance.

Making timely payments and managing your credit with a secure credit card can be a good step to increase your credit premium and ultimately qualify for a conventional credit card.