The
OakStone Secured Mastercard® Platinum Credit Card is a low APR secured credit card that is a good option for people who mainly want to improve their credit score but might not be able to pay their credit card bill in full every month. The biggest downside to the OakStone Platinum offer is the card’s
$49 annual fee. Lots of lower-fee secured credit cards are available right now.
Below, you can find more information to help you decide whether applying for the
OakStone Secured Mastercard® Platinum Credit Card is a good move in your situation.
OakStone Platinum Card Review Highlights
$200+ Security Deposit Needed
The minimum security deposit for the
OakStone Secured Mastercard® Platinum Credit Card is
$200, and approved applicants can put down as much as $5,000. The amount you put down will be your spending limit, and you will get the deposit back upon bringing your balance to $0 and closing the account.
Relatively low APR
The
OakStone Secured Mastercard® Platinum Credit Card interest rate is
14.74% (V). That’s well below the average APR among new credit card offers right now. That said, a secured card only lets you spend up to the amount of your deposit, so paying interest on a secured card balance is really like paying interest for borrowing your own money.
No Rewards
Like most credit cards for people with bad credit, the
OakStone Secured Mastercard® Platinum Credit Card does not reward cardholders for making purchases.
$49 Annual Fee
The OakStone Credit Card annual fee is
$49. The average annual fee among new credit card offers is
$22.29 right now, and several secured cards have $0 fees.
Reports to the Major Credit Bureaus
The
OakStone Secured Mastercard® Platinum Credit Card reports account details to TransUnion, Equifax and Experian each month, which allows you to consistently add positive information to your credit reports simply by using the card responsibly. You can track your progress with free credit
reports and
scores from WalletHub.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.