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Save money on interest payments over time with no annual fee on a secured balance card.

Because secured cards require you to place a cash deposit as collateral when opening the account, lenders can be less restrictive when approving applications.

The security deposit is typically equal to the card's credit limit, which reduces the risk to the lender because they can keep the deposit to pay off the account's balance if the cardholder stops making payments.

Once you pay the deposit on a secured card, you can use the card just like any other credit card.

  • Build or repair your credit over time
  • No annual fee
  • Minimum Amount: $500
  • Maximum Amount: Up to $35,000

*Membership is required. Rate and amount of loan is based on the applicant’s creditworthiness and subject to Beacon FCU’s underwriting guidelines. For borrowers under 21 years old, the borrower must submit a written application with the following: Financial information indicating the consumer has an independent ability to make a required minimum payment on the proposed account or a signed agreement of a cosigner or joint applicant who is at least 21 years of age to be either secondarily liable for any debt on the account incurred by the consumer before he/she has attained the age of 21. Rates can vary without previous notice. No in-house refinance. Other Restrictions may apply.

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