Public Savings Bank has one of the best deals in the country on secured credit cards.
Its Classic Secured Visa Card has a one-time application fee of $75, and that’s pretty much it.
There’s no annual fee and if you pay your balance in full every month (there’s a 25-day grace period) the card will cost you nothing more.
With some heavily promoted secured credit cards charging outrageous maintenance and processing fees, signing up with Public Savings can literally save you hundreds of dollars a year.
Secured credit cards require you to pay first and charge later. They’re designed for consumers with little or no credit history — or a terrible credit history — who can’t qualify for a standard credit card.
With Public Savings Bank’s card, you can deposit anywhere from $300 to $1,500, and that becomes your credit limit.
It remains on deposit at the bank, which is based in Huntington Valley, Pa., unless you default and it must be tapped to pay your bill.
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