What documents do I need to open a secured credit card?

Here are the basic secured credit card approval requirements:

• 18+ years old.
• $200+ for a refundable security deposit.
• Enough income for monthly bill payments.
• U.S. mailing address.
• Social Security number (ITIN or passport accepted in some cases)

How much income do you need for a secured credit card?

Issuers do not state a required income to get a credit card. But a good rule of thumb, at least when it comes to entry-level credit cards, is that your monthly income should be at least $100 higher than your monthly expenses.

Does it hurt your credit to apply for a secured credit card?

There is no minimum credit score needed for a secured card, since secured credit cards are designed for people with bad or limited credit. Some secured credit cards, such as the OpenSky® Secured Visa® Credit Card, won’t even check your credit when you apply.

Are secured cards worth it?

Secured credit cards can be a good option for building or rebuilding your credit. A secured credit card can help you establish or re-establish your credit. Since payments are included in your credit report, paying on time and managing your balance will help improve your credit score.

Does applying for Amazon card hurt credit?

Application for the Amazon.com Store Card is treated as a credit card. Yes it will affect your credit score.

How can I get a secured credit card?

Other options include getting added as an authorized user to a friend or family member’s credit card account. You could also try applying for a different secured card. Some secured credit cards will automatically convert to an unsecured card after you prove you are managing your card well for a set timeframe.

How to apply for a Citi secured MasterCard?

The Citi ® Secured Mastercard ® is designed specifically for people who are new to credit or want to build their credit. Anyone is welcome to apply, however in order to be approved, you must meet our credit qualification criteria.

Do you have to close a secured credit card?

Experts generally don’t recommend closing credit cards, but secured cards are a bit different since you’re required to put up collateral. Before you close a secured card, make sure you apply for a new card and are approved.

What do I need to apply for a credit card online?

Consider finding out your credit score before you apply so you know what kinds of cards you’re eligible for. Most online card applications require: Your full legal name. This is the name you use on your official government documentation, like your driver’s license and passport. Your SSN and/or ITIN.