Our credit scoring model doesn’t care whether your card is secured or unsecured. If your credit score is less-than-perfect, a secured credit card may be a good option for you.
Qualifying for credit often requires you to have good credit. This catch-22 can make it difficult when you are trying to get a credit card and have poor credit or minimal credit history.
What is a secured credit card? If you are unfamiliar with this term, you’re not alone! Here are the main differences between secured and unsecured credit cards.
The First Latitude Card Secured Mastercard® is issued by Synovus Bank, Columbus, GA, Member FDIC. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Obtaining Your Card: The USA PATRIOT Act is a federal law that requires all financial institutions to obtain, verify and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth and other information that will allow us to reasonably identify you. We may also ask to see your driver’s license or other identifying documents at any time.
¹Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.