OakStone Gold Secured Mastercard® review
This credit-building card has a $39 annual fee and a $200 minimum secured deposit.
- Get this card if you have poor credit and you want to improve it.
- Pick something else if you want to earn rewards.
- Apply with poor credit or with no credit history.
Purchase APR (variable)
Recommended credit score
|Product Name||OakStone Gold Secured Mastercard®|
|Purchase APR||13.99% variable|
|Balance transfer APR||N/A|
|Cash advance rate||19.99% variable|
|Cash advance fee||$10 or 3% of the cash advance amount, whichever is greater|
|Foreign transaction fee||3% of the transaction value|
|Interest free period||Up to 25 days|
|Late payment fee||Up to $40|
|Returned payment fee||Up to $29|
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On the downside, there are no introductory interest rates or rewards of any kind. Another thing to keep in mind is that residents of Arizona, Iowa, New York and Wisconsin cannot apply for the card.
How to apply for the OakStone Gold Secured Mastercard®
Applying for the OakStone Gold Secured Mastercard® is simple compared to some credit cards. Here’s how it works:
- Click Apply now.
- Fill out the application form.
- Review the form and submit.
What credit score do I need?
You can apply with poor credit or with no credit history.
OakStone Gold Secured Mastercard® benefits
- Build credit. The card reports your activity to the three major credit bureaus — TransUnion, Experian and Equifax. With timely payments, you can build your credit.
- No minimum credit score requirements. You can apply with poor credit or with no credit history and still get a credit card approval.
- High credit limit. You can deposit anywhere between $200 and $5,000 to act as your credit limit.
- Relatively low APR. With variable interest rates of 13.99%, this is lower than most secured card competitors.
What to watch out for
- Requires a secured deposit. You can only use the card if you make a secured deposit.
- Not available in some states. This credit card is not available for those who live in Arizona, Iowa, New York and Wisconsin.
- Annual fee. The card costs $39 annually. This is the typical fee for most secured cards, although there are a few secured cards that don’t charge an annual fee at all.
- Foreign transaction fees. There’s a 3% foreign transaction fee for every transaction made abroad or online with foreign merchants.
- No rewards program. Although rare, some secured cards offer a rewards program in the form of cash back. Unfortunately, this card isn’t one of them.
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What do customers say?
There are no reviews regarding the OakStone Gold Secured Mastercard®, but there are some for Synovus Bank, the card issuer. The Better Business Bureau (BBB) has accredited Synovus Bank since 1990 and rates the bank with an A+.
The OakStone Gold Secured Mastercard® is a simple secured card aimed at those who have poor credit or no credit history. Because it reports to the three major credit bureaus, it can help you build credit. If this secured card isn’t right for you, and you don’t want to pay an annual fee, compare no-annual-fee secured cards.