It is called “secured credit card” the one people can't use if thay have no money in their accounts, so the money one has is the money one can spend, and no more. Banks usually have an initial deposit ranging from $200 to $500. We must also have in mind that this kind of credit cards have higher fees than unsecured credit cards.
Many banks offer secured credit cards, and you can have a Bank of America secured credit card, which has an annual fee of $39; there is also Citibank secured credit card, which annual fee is $29 and gives you the chance of having an unsecured card within 18 months. To get a HSBC secured credit card depends on the bank criteria about each particular customer. American Express secured credit card helps people with borrowing and lending money. American Savings Bank secured visa is a good option, becuse it has a wide net of ATMS around the world, customers can use. Merrick Bank secured Visa can be used like a regular Visa card, worldwide accepted; Wells Fargo secured card -which you can customize- has an annual fee of no more than $25 and, like many others mentioned before, the owner of this card can have free online access to his or her account and check every movement. Two positive features of this bank secured card is that one can have a secured credit card if he or she hasn't been in bankruptcy for a year, and that is less time than other banks demand; the other interesting feature affects college students, Wells Fargo Cash Bank has special deals for them. U.S. Bank also has security credit cards only in states where it has retail branches, and it has an annual fee of $35.
Regarding the best considered HSBC's Orchard Bank Classic MasterCard and the Orchard Bank Visa Classic are amongst the top ones -along with Wells Fargo-, because they have affordable annual fees of $29 to $59; in the case of HBSC, it also provides an interest-free period of 25 days. Orchard Bank, after the first year in which clients have paid their bills on time, give them the chance of qualify to an un secured card.
Another bank having good secured credit cards, is the Navy Federal Credit Union and Rewards Secured Card, this is a special bank because its services are meant to military professionals or related to them.
Other articles relating banks
Banks that offer personal loans
Banks that offer student loans
