The Huntington® secured credit card is designed to help individuals build or rebuild their credit while enjoying the benefits of earning cash back. Whether you’re just starting out on your credit journey or working to repair your credit, this card offers a straightforward path to financial health.
Best of all, it comes without an annual fee, making it a cost-effective choice for those looking to improve their credit standing. With a minimum refundable deposit of $250, the Huntington® secured credit card not only gives you the tools to build credit but also rewards you for everyday purchases. Let’s dive deeper into what makes this card a valuable financial tool.
Key information about the credit card
How does the annual fee work?
One of the standout features of the Huntington® secured credit card is that it does not charge an annual fee. This can be particularly beneficial for individuals who are focusing on building or rebuilding their credit, as there are no hidden costs involved. Many credit cards on the market charge annual fees, especially those that offer rewards programs, which can add up over time.
How is the credit limit determined?
The credit limit for the Huntington® secured credit card is determined by the amount of the refundable security deposit that you make. This deposit acts as collateral for the credit card, and it is what guarantees your credit limit. The minimum deposit required is $250, and this amount will be your initial credit limit.
Advantages of the credit card
- No annual fee: Cardholders can focus on building credit without the burden of paying a yearly fee.
- 1% unlimited cash back: Earn 1% cash back on every purchase with no cap on how much you can earn.
- Late Fee Grace®: If you miss a payment, you get an extra day to make your minimum payment without being charged a late fee.
- No penalty pricing: Your APR won’t increase if you go over your credit limit or miss a payment.
- Free FICO® credit score: Check your credit score for free every month.
- Digital wallet access: Compatible with most digital wallets for easier, more secure payments.
- Contactless payments: Make payments quickly and easily with contactless technology.
Standout advantage
The standout advantage of the Huntington® secured credit card is its Late Fee Grace® feature. Unlike many credit cards that charge a fee immediately after a missed payment, this card gives you an extra day to make your minimum payment without incurring a penalty.
Disadvantages
- Security deposit required: A minimum deposit of $250 is necessary to open the account.
- No upgrade guarantee: While there is a possibility of upgrading to an unsecured card, it is not guaranteed.
- No introductory APR offers: Unlike some credit cards, this card does not offer 0% introductory APR on purchases or balance transfers.
- Limited credit limit: The credit limit is tied to the security deposit, so it may be lower than some would prefer.
A standout disadvantage
The most significant disadvantage of the Huntington® secured credit card is the required security deposit. While this is common for secured credit cards, it can still be a barrier for some people who may not have $250 available to deposit upfront. This deposit is refundable, but it must be maintained for as long as you have the secured credit card, which means that those funds are tied up and cannot be used for other expenses.
Who can apply for this card?
To apply for the Huntington® secured credit card, you must meet certain eligibility criteria. First, applicants must be a customer of Huntington, meaning that you need to have either a checking, savings, or money market account with the bank.
If you don’t already have an account, you can open one online before applying for the card. Additionally, applicants must be at least 18 years old, as is the standard for credit cards, and possess a valid Social Security number or Tax Identification number.
While the Huntington® secured credit card is designed for those looking to build or rebuild their credit, approval is not guaranteed for everyone. A security deposit is required to open the account, and the card issuer may review your credit history during the application process.
How to apply for the Huntington® Secured Credit Card
Applying for the Huntington® secured credit card is a straightforward process that can be done in three different ways: through the website, the mobile app, or by visiting a branch.
For the website
To apply for the card online, you’ll first need to visit Huntington’s official website. From there, navigate to the secured credit card page and click on the “Apply Now” button. You will be prompted to log into your Huntington account.
If you’re not a Huntington customer yet, you’ll need to open a checking or savings account before proceeding with your credit card application. The online form will ask for basic personal information, including your name, address, Social Security number, and employment details. Once your application is complete, you will be asked to make the refundable security deposit.
Through the app
You can also apply for the Huntington® secured credit card through the Huntington mobile app. The process is similar to applying online. After logging into the app, navigate to the credit card section and select the secured credit card option.
From there, you can fill out the application directly from your mobile device. Once your application is submitted, you’ll need to make the security deposit, which can be done electronically through your Huntington account. This method is convenient for those who prefer managing their finances via smartphone.
At the branch
If you prefer to apply in person, you can visit any Huntington branch to submit your application. A bank representative will guide you through the process, and you will need to provide the same personal and financial information as you would online or through the app.
Once your application is approved, you can make your security deposit directly at the branch, either by transferring funds from an existing Huntington account or depositing cash.
