History of PREPAID CREDIT CARD (or better known as SECURED CREDIT CARD)

Last update 2019-07-23 17:06:32 Creation date 2019-07-16 18:43:28
  • BRIEF DESCRIPTION
    • Exactly like a credit card but will need a collateral in form of bank deposits which cannot be withdrawn by the cardholder until he relinquishes ownership of the credit card.
    • The deposited amount will also serve as guarantee in case cardholder fails to pay the monthly dues and card becomes overdue. This will allow the bank to withdraw any amount due from the collateral deposit account to pay for any amount due.
    • However, approval of application is still not 100% guaranteed and will be under the discretion of the bank.
    Posted 2019-07-23 17:06:32 by PREPAID CARDS PH
  • CARD LIMIT
    An amount which is usually less than the collateral deposit.
    Posted 2019-07-23 17:01:56 by PREPAID CARDS PH
  • BRIEF DESCRIPTION
    • Exactly like a credit card but will need a collateral in form of bank deposits which cannot be withdrawn by the cardholder until he relinquishes ownership of the credit card.
    • The deposited amount will also serve as guarantee in case cardholder fails to pay the monthly dues and card becomes overdue. This will allow the bank to withdraw any amount due from the collateral deposit account to pay for any amount due.
    Posted 2019-07-16 18:47:10 by PREPAID CARDS PH
  • Mode
    70
    Name
    PREPAID CREDIT CARD (or better known as SECURED CREDIT CARD)
    Viewer
    public
    Editor
    gnobgnob-4yhbdp1t
    Category
    banks
    BRIEF DESCRIPTION
    • Exactly like a credit card but will need a collateral in form of bank deposits which cannot be withdrawn by the cardholder until he relinquishes ownership of the credit card.
    • The deposited amount will also serve as guarantee in case cardholder fails to pay the monthly dues and card becomes delinquent. This will allow the bank to withdraw any amount due from the collateral deposit account to pay for any amount due.
    CARD LIMIT
    Any amount less than the collateral deposit.
    PAYMENT
    Same as credit card
    SAMPLE CARD
    https://socialcompare.com/u/1907/securedcredit_c447fff727e3b39d4b8a6feda78e0a1e.jpg https://socialcompare.com/u/1907/securedcredit-4z7dgzzs.jpg
    FEES AND PENALTIES
    Same as credit cards.
    WITHDRAWALS VIA ATM
    Same as credit cards.
    MAINTAINING BALANCE
    Requires a certain amount of deposit which is higher than the credit limit as collateral.
    Posted 2019-07-16 18:43:28 by PREPAID CARDS PH