Ever since the merger with Washington Mutual, Chase Bank has stopped issuing secured credit cards. And unfortunately, if you had your fingers crossed, Chase has no plans on issuing any in 2013. In fact, when we last reached out to Chase, we were given the impression that they never plan on issuing them again.
That being said there are still plenty of decent secured credit card options available. Use the link below to see today’s top 10.
Chase Bank’s line of credit cards usually feature rewards points, cash back and travel perks. And credit cards in these categories, are unfortunately, only geared towards those with stellar credit. That’s not to say you shouldn’t aspire to owning one of these cards in the near future. It all starts with getting your credit back on track though, and secured cards are a great place to start!
Chase Bank Secured Credit Card Review
(From Archive - Note this review has been removed, as Chase does not offer secured credit cards at this time.)
While Chase Bank at one point in time had a plethora of both credit cards for bad credit, credit cards for rebuilding or establishing credit and secured credit cards, they now have none.
After Chase Bank’s acquisition of Washington Mutual following the free fall in their stock price, Chase has removed it’s secured credit card offers.
If you’re looking to rebuild credit or establish your credit, you many want to view our top credit cards for rebuilding credit. The top offers should report to the 3 major credit bureaus on a monthly basis, give you text or email alerts upon upcoming due dates and allow you to establish your credit limit based upon an initial cash deposit.
Why open a secured credit card?
When you apply for a new credit card, your desired lender will first review your credit rating. In today’s market if you have even one or two check marks in your file with the credit rating agency, your application will likely be denied. If the overall weakness in the economy has taken it’s toll on your credit rating (be it by loss of a job, mortgage or credit card payment delinquencies, or even an emergency that required you to leverage your savings) a secured credit card may be the type of account you need to get your finances back on track.
If you’ve come across any Chase secured credit cards online, these are likely older application forms. Chase Bank is no longer issuing them.
Have a favorite secured credit card? Tell us about it by leaving a comment!