I'm getting to the point where I plan on closing my remaining secured cards. I have unsecured cards and I want my cash back. However, my security deposit for Affinity FCU is sitting in a savings account that now pays 4% interest on up to $10K. That's up from 3.5% on the first $5K. I think that makes it a strong contender to hold on to. And for those looking for a decent secured card, it offers the opportunity to get a card and still earn decent returns on the deposit, unlike most card deposits that don't earn anything. I signed up for the card when I joined the CU and there wasn't a hard pull for any of it. I talked to Affinity on the phone and asked how much of my savings account I could use to raise my limit, and the rep said all of it. She said you could have a $100,000 limit if you wanted, they don't have a maximum. Since the savings account pays 4% on $10k, you can get a pretty high limit without feeling like your money is tied up and not working for you. As far as getting the card unsecured, they said to talk to them after a year. Not sure if there's a hard pull at that point.
Sounds like a nice option. Do they allow you to increase your deposit after the fact?
@Brian_Earl_Spilner Yes. You have to call them.
Update: Just checked their website and they actually promote the secured card's "flexible limit increase" that lets you add more money to your savings account anytime you want then call them to use the extra money to increase your CL. They send you forms that you have to e-sign to confirm your request. They'll book it right away.
@crrredit Nice, they sound like some kind of Unicorn 🦄 😆 🤣 credit union. I see they also have a cashback DEBIT card too not too shabby.