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SunTrust Secured Credit Card with Cash Rewards

Credit needed
Good
APR
19.99%
Annual Fee
$32

Card Summary

SunTrust Secured Credit Card With Cash Rewards offers cash rewards and a secured credit line.

The SunTrust Secured Credit Card With Cash Rewards, like other secured credit card accounts, requires you to make a security deposit in order to open the account.

The card allows you to get 2% cashback on your first $6,000 in gas or grocery purchases, and then 1% on any other purchases.

Cardholders will have free access to their FICO scores every month.

You can also get car rental insurance and baggage delay insurance.

Worldwide travel accident insurance is available.

Purchase assurance is another benefit

Card Summary - Cons

Rates and fees

Issuer Name
SunTrust Bank
Penalty APR
None
Credit Needed
Good
Balance Transfer Fee
The transfer amount must be $10, or 3% (whichever is higher).
Annual Fee
$32
Cash Advance Fee
The amount paid for each advance is either $10 or 4%, depending on which one you choose.
APR
19.99%
Foreign Transaction Fee
None
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Here’s a smart way to pay off

SunTrust Bank

The Best Features

Reward: Earn 2% cashback on your first $6,000 worth of qualifying grocery and gas purchases every year. Then, 1%) will apply. All other purchases get 1% cashback.A security deposit earns interest.

You'll need to deposit a minimum of the approved limit in a SunTrust Secured savings account. Your deposit earns interest up to the time you open an unsecured credit card account. Once that happens, your security deposit is returned with interest.

Benefits for cardholders: The SunTrust Secured credit card with Cash Rewards offers a number of benefits, including free FICO score access every month, vehicle rental insurance, purchase insurance, bag delay insurance, global travel insurance and cancellation/interruption insurance.

Rewards

Sign up bonus

APR Requirements

Drawbacks

An annual fee of $32 is charged for the SunTrust Secured credit card with cash rewards.

High APR: SunTrust Secured credit card with cash rewards has a 19.9% APR on purchases and balance transfer transactions.

Highlights

Get 2% cash back on qualifying gas or grocery purchases up to $6,000 per year. All other eligible purchases qualify for a 1% unlimited cash back. Cash in even more. You can redeem the cash you have earned back into your SunTrust Savings, SunTrust Money Market or Checking account to receive a loyalty bonus of either 10% or 25%.

You have hundreds of options for redeeming your rewards, such as cash back or e-gift certificates, travel, and many more.

Access and redeem rewards online at suntrust.com/rewards. Your FICO Score as a SunTrust credit-cardholder will be accessible in Online Banking. This score will be supplemented by insight into your credit history and credit education that can help you keep on the right track.

EMV Chip Technology: Enhanced security and acceptance of purchases made at chip terminals across the US and internationally.

SunTrust World Mastercard Cardholders Benefits:

SunTrust Secured credit card with cash rewards benefits:

SunTrust Secured credit card with cash rewards holder will enjoy the following benefits:

Baggage delay insurance
Car rental insurance
Access to your FICO credit scores monthly for free
Mastercard Global ServiceBuy assurance
Trip interruption or cancellation insurance
Worldwide travel accident insurance
No liability insurance.

Benefits

Comparative Analysis with Other Cards

SunTrust Secured credit card with cash rewards vs. Capital One platinum Secured credit card

Annual Fee: The SunTrust Secured credit card with cash rewards has a $32 fee. Annual fee for the Capital One Platinum Secured Credit Card is $0.

Reward: Get 2% Cash Back on your first $6,000 of qualifying grocery and gas store purchases (then 1%), and 1% Cashback on any other purchase with the SunTrust Secured credit card with Cash Rewards. Capital One Platinum Secured credit card does not offer a rewards program.

Sign up bonus: No card provides a sign-up incentive.

Benefits: Cardholders who apply for the SunTrust Secured Credit Card With Cash Rewards will receive car rental insurance, purchase insurance, FICO credit score access every month, luggage delay insurance, and international travel accident insurance.

Benefits include Mastercard identity theft protection, fraud protection and emergency card services.

SunTrust Secured credit card with cash rewards vs. Discover it Secured credit card

Rewards: The SunTrust Secured Credit Card With Cash Rewards allows you to earn 2% cashback on your first $6,000 worth of qualifying grocery and gas purchases, and then 1% on every other purchase.

The Discover it Secured credit card will earn you 2% cashback at gas stations and restaurants on purchases up to $1,000 each quarter, as well as 1% cashback on all credit card purchases.

No sign-up bonuses: The cards do not offer a sign up bonus. The Discover it Secured credit card automatically matches any cash you earn dollar-for-dollar at the end the first year.

Benefits: SunTrust Secured credit card with cash rewards holders receive benefits such as purchase assurance, FICO credit score accessibility each month, vehicle rental insurance, baggage delay and international travel accident insurance.

Benefits for Discover it Secured credit card cardholders include free FICO credit scores each month, overnight replacement, and the option to freeze your account in case your card is stolen or lost.

Redeeming Rewards

Maximizing Rewards

Annual Fees

Conclusion

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No late fees. Reduced interest charges. Pay off

SunTrust Bank