The only American Express secured credit card is the USAA Secured American Express card, which has a $35 annual fee and requires a deposit of at least $250. The card also has a special lowered interest rate of just 4% for deployed military personnel. This card is issued by USAA, but it is on the American Express card network. There is no American Express secured credit card issued by Amex. All American Express-issued credit cards require at least good credit for approval.
To get the USAA American Express secured credit card, you must be a USAA member. You can join USAA if you are active or former military. You’re also eligible to join if your spouse or a parent is a USAA member with a USAA auto/property insurance policy.
Here’s what the American Express secured credit card from USAA offers:
Eligibility: The USAA Secured American Express card is available to USAA members with bad credit or better.
Annual Fee: $35.
Deposit & Limit: The USAA Secured Amex card requires a deposit of at least $250. You can deposit up to $5,000. Your spending limit equals the amount of the deposit.
APR: 11.9% - 21.9% (V); 4% if you’re deployed or have Permanent Change of Station (PCS).
Foreign Transaction Fee: $0.
If you’re not eligible for (or don’t like) the American Express secured credit card from USAA, you may want to look into Visa, Mastercard and Discover secured cards. The Discover it Secured Card and the Capital One Secured Card are two of the best offers on the market.
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