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The Chase secured credit card is a great way to improve your credit. People with low credit scores and people who have not established their credit find this the perfect card to use with the bank being so popular.
A History of Chase Bank
This Bank is of one of the Big Four Banks in the United States, JP Morgan Chase. It was discovered right before the 19Th century, with many transitions and established itself as a high standing bank. In 2000, the most recent merger of this bank happened, which JP Morgan & CO and Chase Manhattan merged as JP Morgan Chase. In 2004, Bank One was acquired, which gave it standing as the front line credit card bank in the United States. JP Morgan Chase operates worldwide.
Ranges of Chase Secured Credit Cards
Many secured cards by Chase are airline, student, and platinum cards among just some of the cards offered. Each secured card is different in process, application, and fees. Application fees are from $ 10 and can go up to $ 50 and annual fees start at $ 25 and can go up toward $ 300. Many of these cards have a 0% APR the first year. More benefits of the Chase secured credit card is that it will have a modest interest rate and that it is accepted worldwide.
Newest Products for 2012
Chase has three new credit card options for 2012. When customers spend $ 250 dollars in 90 days of receiving cards, they will get 25,000 bonus points with Chase Sapphire. When cardholders spend at least one dollar, they will get two points and one point for every dollar that is used for items. The points can be redeemed for getting gift cards, airline tickets, and cash. The points do not expire so cardholders are not limited in the amount that they can earn.
The second Chase secured credit card is the Freedom card for 2012. Customers will qualify for $ 200 cash when they sign up. Every time cardholders use their cards, they get cash back. In certain bonus categories, they will earn 5% cash back for purchases of up to $ 1500. In addition, cardholders will earn 10% cash back with specific online merchants. The Continental Airlines Card is the other card through Chase in 2012. When using these cards, cardholders get 40,000 in bonus miles.
Advantages: Most financial institutions do not approve unsecured cards for people with no credit history and bad credit. The way of applying is easy against applying for unsecured cards. It is necessary for a security deposit, which is held by the card issuer for collateral. This can be as low as $ 300 up to $ 500.
Negatives: Some negative things for these cards are high interest rates. Next, applicants will pay a one-time fee when applying. It is important to know if you can pay these expenses before getting a credit card.
Another disadvantage is secured cards are not available to everyone. Submitting an application will not guarantee an approval.