You should be able to qualify for this card as long as you have the $300 required for the deposit. Secured credit cards tend to have relatively lenient approval requirements because the deposit serves as your credit line, thus preventing you from spending more than you can afford to repay and minimizing risk from the issuer's perspective. That's why a secured card is the best tool for rebuilding from bad credit.
You can learn more about secured credit cards here: http://wallethub.com/edu/secured-cards/19575/ . Also, if haven't settled on this offer, you may want to consider the Capital One Secured MasterCard, as it does not charge an annual fee ( https://wallethub.com/d/capital-one-secured-credit-card-383c/ ) .
I applied with a 498 and was approved, I also have several positive open credit lines so it may be based more on the profile than the score which can be a benefit
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