Atlantic Capital Bank Secured Credit Card
Card Summary
The Atlantic Capital Bank Secured Credit Card is ideal for folks with bad credit who want to establish or rebuild credit. A refundable deposit usually determines the credit limit, minimizing the issuer's risk and making it more accessible. Its reasonable APR and lack of penalty APRs or balance transfer fees make the card affordable and simple.
This card, managed by Atlantic Capital Bank, a financial organization known for innovative banking solutions, offers extended warranty, identity theft protection, and fraud protection, increasing its value for cardholders. The Atlantic Capital Bank Secured Credit Card is a useful and affordable credit-building instrument..
Pros:
- Low annual fee, making it an economical choice for credit building.
- Reports to major credit bureaus, aiding in credit score improvement.
- Security features include fraud protection and ensuring safe transactions.
- Flexible credit limit based on a refundable security deposit.
- Accessible to individuals with limited or poor credit histories.
Card Summary - Cons
- Absence of a rewards program or cash-back incentives.
- Variable purchase APR, which might increase over time.
- Additional charges for late payments, foreign transactions, and potentially higher fees for cash advances.
Rates and fees
Highlights
- Designed specifically for building or rebuilding credit
- Low annual fee compared to other secured credit cards
- Regular reporting to the major credit bureaus to help improve credit scores
Comparative Analysis with Other Cards
Conclusion
Secured credit cards are a type of credit card where a deposit made by the cardholder backs the credit limit. This deposit acts as collateral and reduces the risk for the issuer, making these cards accessible even to those with limited or damaged credit histories.
The Atlantic Capital Bank Secured Credit Card is a product that fits this description, designed to assist individuals in building or rebuilding their credit scores.
The Atlantic Capital Bank Secured Credit Card is categorized as a secured card, requiring a refundable security deposit from the cardholder. This deposit typically determines the credit limit of the card. For instance, a $500 deposit would generally equate to a $500 credit limit. The exact terms and credit limits may vary and should be verified with the bank directly.
Note: Credit Card summary is for informational purposes only and is not an endorsement of the product. Products and services described are offered by third parties and not Bright Money or its partner banks. Bright Money strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider, or specific product’s site and the information has not been reviewed or provided by the issuer of the product before publication.
