Chip Lupo, Credit Card Writer
@CLoop
No, the Atlas Credit Card is not a secured credit card. The Atlas Credit Card is designed for people with bad credit (a credit score of 640+), but unlike secured credit cards, it does not require a security deposit to open the account.
Key Things to Know About the Atlas Credit Card
- Network: Mastercard
- Rewards: 0 - 5% cash back
- Initial Bonus: N/A
- Annual Fee: $0
- Membership Fee: $8.99*, charged every four weeks ($89/year in the annual plan). The membership fee also includes access to a deposit account, credit tracking, and subscription manager.
- Regular APR: 0%
The Atlas Credit Card is a unique credit card for building credit, as it offers generous rewards on select purchases and does not charge interest. It’s also very easy to get approved, as you only need to verify your identity and link your bank account. The sticking point is the card’s membership fee, but with a maximum rewards-earning rate of 5% cash back, you may be able to recoup the cost with the rewards you earn.
To view other options, check out WalletHub’s picks for the best credit cards to build credit.
People also ask
Does Atlas really build credit?
Yes, the Atlas Credit Card can really help you build credit, because it reports monthly to the major credit bureaus. So, as long as you use your card responsibly by making timely payments, you should be able to see positive results. Some cardholder reports on forums suggest that the card can indeed improve your credit score, though results can vary case by case.
If you have a Atlas Credit Card and want to know what impact it’s having...
read full answer by John Miller, Credit Cards ModeratorIs Atlas considered a prepaid card?
No, the Atlas Credit Card is not considered a prepaid card. Instead, it is a credit card designed for people with bad credit, and it assigns you a credit limit based on your credit profile and linked bank account. This limit can change over time, especially if you set up direct deposit into your Atlas account.
Even though you can add funds to your Atlas account to potentially increase your credit limit, that doesn’t make it...
read full answer by John Miller, Credit Cards ModeratorDid we answer your question?
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