U.S. Bank has launched secured versions of the Cash+ & Altitude Go credit cards. Consumers with little to no credit history or a bad credit history can apply for these cards with a security deposit of $500 – $5,000. Both cards come with no sign up bonus, no annual fee and the normal earning rates. In the past U.S. Bank has graduated secured cards to unsecured cards after a period of at least one year and it’s also possible to add funds to your security deposit to increase the credit limit with no hard pull.
It’s great to see more secured products with the same rewards program as there unsecured counter parts and with no annual fees.
Hat tip to reader Ryan
View Comments (7)
Truist and Bank of America also offer secured versions of their cash rewards cards.
On the "best secured cards" page, I read that one of the cons was a card "reporting as secured card". Why is that bad and I'm guessing we don't know yet how these will report, right?
Are they still going to be as difficult to get as regular credit cards from US Bank? Is there also an approval process for secured cards? Never had one.
Haha...they want customers but still, have the 1/12 and 0/6 rule.
I doubt there’s much overlap between the customers they’re looking for with these secured cards and people with a lot of new accounts.
very nice... I like where this is heading!
Nice, the Discover it Secured has some solid completion now. Good move by U.S. Bank.