Bank of America Cash Rewards Secured Credit Card Review | BEST Credit Building Card?

In this video, I review the Bank of America Cash Rewards sSecured credit card, going over the different aspects of it. Before applying for the Bank of America Secured credit card, or any credit card for that matter, it’s always important to go over the important details. You’ll want to know what your current credit score is, what your financial goals are, and try to match those with the best credit card possible. Being that the Bank of America secured credit card is built for those looking to build or rebuild their credit, it’s mostly for those starting their credit journey, mostly with lower credit scores.

With the Bank of America secured card, you do need to put down a minimum security deposit of $300, and as high as $4900. If you give a deposit that’s too high for what they see your credit is worth at this time, they’ll send a check back for the difference. After around one year, as long as you’re paying on time, many people are able to improve their credit scores, and therefore, graduate on to an unsecured credit card. The difference between Bank of America’s cash rewards secured credit card and Bank of America’s cash reward card, mainly, is the fact with the secured card, you have to put down the up front deposit.

The really great thing about this secured card by Bank of America though is the fact that you will be earning some cash back. Being that earning cash back and spend bonuses with secured cards is pretty rare, it’s great that you’ll be earning those benefits with this card. With many other secured credit cards on the market, the only real benefit you receive is by paying on time and building your credit score. Even though you should definitely aim for that benefit with this card as well, it’s always nice to earn some cash back rewards in the meantime.

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Learn more about Bank of America’s Cash Rewards Secured Credit Card: https://www.bankofamerica.com/credit-cards/products/cash-back-secured-credit-card/

Discover It Secured Credit Card: https://youtu.be/zb6WE5b28Kc

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