If you are having difficulty getting accepted for a credit card, you may need to consider getting a secured credit option. With a secured credit card, your credit limit is determined by a mandatory security deposit that you must make during the creation of the account. The bank that issues the card will have the ability to draw from this deposit at their discretion if you are ever behind in paying your monthly balance. In this way, you will also avoid damaging your credit score and can begin to establish a more responsible credit history. One secured credit card that you may be interested in is the Bank of Edwardsville Secured Visa Card. Security deposits for this credit card must be made in an amount between $300 and $5,000. The APR is set at 21.49%, which is much higher than one would desire, but as long as you keep up to date with paying off your balance, you will avoid paying interest (APR is subject to change). It is also important to mention that there is an annual fee of $35, although this is normal for secured credit cards. If feel like the Bank of Edwardsville Secured Visa Card is the right option for you, scroll down and follow our step-by-step application guide.
To be eligible for this credit card you must meet the following criteria:
Step 1 – To start the application process, you will need to navigate to the Bank of Edwardsville credit card page. Once there, scroll down until you find the Secured Visa Card option, and click the Apply Now link to continue to the next step.
Step 2 – Next, you will be required to select whether you would like to pay your security deposit using an online banking account or by sending a cashiers check/money order. Click the Get Started button beneath the option you wish to choose to continue to the application page.
Step 3 – Begin filling out out your application by providing the following Personal Information:
Step 4 – Now, you will need to enter all of the below information into the Housing Information section.
Step 5 – In the Income and Employment Information section of the application, you will need to provide the following information:
After entering the above information, if you are a current customer of The Bank of Edwardsville, you are asked to select Yes beside each account or service that you have with them.
Step 6 – Here, if you would like to add a Joint Applicant, select Yes and provide the necessary information. Next, you will need to provide the following information to make your security deposit:
Step 7 – Now, enter your SSN/Individual Tax ID # and tick the box that certifies this information before continuing to the final step.
Step 8 – In this final step, you must read and agree to the terms and conditions for the Bank of Edwardsville Secured Visa Card. When you are ready, tick the box marked I accept the Terms and Conditions and click Submit to submit your application for review.
Congratulations on completing the application process for the Bank of Edwardsville Secured Visa Card. Providing that you are eligible and able to make your security deposit, your application should be accepted. Good luck and thank you for visiting Card Reviews!