GO2bank Secured Visa® Credit Card* vs. Bank of America® Customized Cash Rewards Secured Credit Card*
The Bank of America® Customized Cash Rewards Secured Credit Card* is a comparable option if you’re in the market for a secured card to build your credit. With a security deposit of at least $200, it looks and works like any other credit card out there and has no annual fee either.
However, this card sets itself apart from other secured cards because it offers the ability to earn 3% cash back in a category of choice: gas, online shopping, dining, travel, drug stores or home improvement/furnishings; 2% cash back at grocery stores and wholesale clubs; unlimited cash back on all other purchases. Earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1% on any other purchases. If you want the opportunity to earn rewards, this could be a better option than the GO2bank Secured Visa® Credit Card*.
GO2bank Secured Visa® Credit Card* vs. Discover it® Secured Credit Card
Discover has its own $0 annual fee secured card offering with a minimum $200 security deposit, too. Much like other secured cards, the Discover it® Secured Credit Card allows you to earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases. You also get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, effectively doubling your cash back earnings.
Discover also offers to review your account after seven months to see if you qualify for an unsecured account, at which time you may be refunded your full deposit back.
GO2bank Secured Visa® Credit Card* vs. Capital One Platinum Secured Credit Card
The Capital One Platinum Secured Credit Card (rates & fees) offers a $0 annual fee option that’s backed with a $49, $99 or $200 minimum refundable deposit (and a maximum of $1,000). Capital One will review your account after six months to consider you for a larger credit line.
Much like the GO2bank Secured Visa® Credit Card*, this is a no frills card that comes with no rewards earning and is geared solely for building credit.