Share-Secured Credit Card
Leverage your savings to build your credit.
A Share-Secured Credit Card can help you establish or strengthen your credit while using funds in your City CU savings account as collateral.
A credit report is pulled as part of the application process, and your interest rate is based on your credit score.
To open a Share-Secured Credit Card, you’ll need at least $375 available in your City CU savings account. The initial credit limit is $300, and 125% of the credit limit is held in savings as collateral — $300 for the credit limit plus an additional $75 for interest protection.
Then, use your City CU Mastercard for everyday purchases, make on-time payments and build a positive credit history while your secured funds remain in your savings account.
If you have questions or want to get started, our loan experts can help.