Additional information of Secured Credit Card
Getting the SouthState Bank secured card is just a matter of meeting the requirements: being 18 years of age or older, showing your social security number, having a U.S. address and making a security deposit of $300 or more. The rest is simply a matter of filling out the online form and waiting for approval.
The dynamics of this secured credit card are easy to understand. You must leave an initial deposit as collateral in the amount mentioned above and in increments of $100. It works just like a regular plastic because it does not have the word "secured" printed anywhere and the security savings account earns interest.
Also, all transactions you make will be reported to the credit bureaus for you to start or repair your credit history. When adding the funds that will serve as your limit, you have 2 options:
- Make an electronic transfer (takes 3 to 5 days).
- Send a cashier's check or money order made payable to Elan Financial Services and mailed to your mailing address.
If you do not receive approval, the money will be returned to you the same way you sent it. To qualify for an unsecured credit card, you must have the account open for at least 12 months. If you want to know the associated costs, we suggest you review the terms and conditions.
The SouthState Bank Secured Visa card can be a temporary solution to those score problems or give you a good start on your credit history. There are many offers like this and Busconómico has most of them.
English: Tarjeta Visa Asegurada de South State Bank