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OakStone Platinum Secured Mastercard® review

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Make a secured deposit of at least $200 and pay a $49 annual fee to use this credit-building card.

  • 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.


Annual fee


Purchase APR (variable)


Recommended credit score


Product NameOakStone Platinum Secured Mastercard®
Card typeMastercard
Annual fee$49
Purchase APR9.99% variable
Balance transfer APRN/A
Cash advance rate18.99% variable
Cash advance fee$10 or 3% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Interest free periodUp to 25 days
Late payment feeUp to $40
Returned payment feeUp to $29

Expert review

Kliment Dukovski

Review by

Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The OakStone Platinum Secured Mastercard® is a no-frills secured card for building credit. A secured card means you have to make a secured deposit between $200 and $5,000 to use the card. Your deposit is returned should you decide to close your account and have no outstanding debt.

With a $49 annual fee, it’s not the cheapest credit-building card, but it’s not an expensive one either. Another highlight is the low-interest rate of 9.99% variable, which can be found only on a few credit-building cards. This is a good benefit if you tend to carry your balance often. But to successfully build your credit, avoid carrying a balance.

How to apply for the OakStone Platinum Secured Mastercard®

Applying for the OakStone Platinum Secured Mastercard® is simple. All you have to do is:

  1. Click Apply now.
  2. Fill out the application form.
  3. Review the form and submit.

What credit score do I need?

You can apply with poor credit or with no credit history.

OakStone Platinum Secured Mastercard® benefits

  • Build credit. Since 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. Apply with poor credit or with no credit history and you can still get a credit card approval.
  • Low APR. At 9.99% variable, this card has one of the lowest interest rates you can find.

What to watch out for

  • Requires a secured deposit. You must make a secured deposit between $200 and $5,000 to use the card. That said, this amount will function as your credit limit, and will be refunded if you close your account with no outstanding debt.
  • Not available in some states. Those who live in Arizona, Iowa, New York or Wisconsin are not eligible to apply for the card.
  • Annual fee. The card costs $49 annually. This isn’t unheard of in the secured credit card space. However, other secured cards don’t charge an annual fee at all.
  • Foreign transaction fees. Every transaction made abroad or online with foreign merchants will cost you 3% of the amount.
  • No rewards program. Using this card for purchases won’t earn you any rewards.

Compare credit cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
OpenSky® Secured Visa® Credit Card
Starting at $200
17.39% variable
Apply for this card with no credit check if you're new to credit or have bad credit.
OakStone Platinum Secured Mastercard®
Starting at $200
9.99% variable
Build credit and enjoy an ultra-low APR on purchases of 9.99% variable with this secured credit card.
OakStone Gold Secured Mastercard®
Starting at $200
13.99% variable
A secured credit card to help you build credit with a low APR on purchases of 13.99% variable.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Starting at $200
9.99% fixed
No credit check is required for this secured card. Make a deposit of at least $200 to open this card and get a low 9.99% fixed APR on purchases.
Assent Platinum 0% Intro Rate Mastercard® Secured Credit Card
Starting at $200
0% intro for the first 6 months (then 12.99% variable)
A rare secured card with a 0% intro APR on purchases for 6 months, followed by 12.99% variable.

Compare up to 4 providers

What do customers say?

The OakStone Platinum Secured Mastercard® has no reviews at the time of writing. But Synovus Bank, the card issuer, does. The Better Business Bureau (BBB) has accredited Synovus Bank since 1990 and rates the bank with an A+.

Bottom line

The OakStone Platinum Secured Mastercard® is a simple secured card designed for those who want to build credit. With one of the lowest interest rates currently on the market, you could carry your balance without paying a premium. But being a credit-building card, carrying your balance isn’t recommended. If this card isn’t right for you, or you’re looking for a credit-building option with no annual fee, compare no-annual-fee secured credit cards.

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