BankAmericard Secured Card

back BankAmericard Secured

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intro purchase APR no intro offer	regular APR20.74 - 20.74% (V)
intro BT APR 20.74%	3% min $10

bad credit required

Terms and Conditions

Editors Review

Pros

• $39 annual fee
• After 12 months, you can apply for getting your deposit back while using the card as a regular credit card.
• grace period of 25 days
• Reports to 3 major credit bureaus – good for rebuilding your credit

Cons

• High 20.74% regular APR
• Credit limit equals your deposit – that means fully secured credit card, but no interest on a deposit – so there is no reason to put a big deposit.

Verdict

Average secured card – reasonable annual fee, average APR. Good for rebuilding a credit – reports to all major credit bureaus. Another good feature – BoA can offer you an unsecured card with the same limit after 12 months of using a secured one.