No, Santander Bank US does not have a secured credit card at this point in time. Santander Bank US only offers an unsecured credit card (the Santander® Ultimate Cash Back® credit card), which does not require the cardholder to put down a refundable deposit in order to open the account. However, there are several secured credit cards offered by other issuers.
With secured cards, the deposit usually serves as the spending limit on the card, and the issuer can keep the deposit if the cardholder fails to repay what they owe. As a result, secured credit cards are relatively easy to get approved for.
Using a secured card responsibly can help you eventually build your credit to the point where you can qualify for a credit card from Santander bank US.
You need a credit score of at least 750 for a Santander Bank credit card. That means you must have good credit to be considered eligible, but other financial factors (like your current income or existing debts) will also be taken into consideration when the issuer looks at your application.
A number of smaller banks and credit unions offer secured credit cards, too. They include Capital Bank, First Progress and Green Dot, among others. The major banks that do not offer secured cards are American Express, Barclaycard, Chase, PNC and Synchrony Bank.… read full answer
But remember, it’s not a secured credit card’s issuer that really matters. Your goal should be to find the card with the lowest possible annual fee, no matter who offers it. And you can achieve that goal by comparing secured credit cards using WalletHub's free comparison tool. You can also try our free CardAdvisor to get a personalized recommendation based on your answers to a few simple questions.
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