Fifth Third Secured Credit Card

A secured credit card functions like a traditional credit card, with one key difference:it's backed by a security deposit which acts as protection for the bank while allowing you to borrow money. The security deposit is refundable once the account has been paid off and closed.

By using your secured card responsibly and making on-time payments, you can demonstrate responsible credit card behavior and build your eligibility for a traditional unsecured credit card (which does not require a deposit).

A secured credit card requires a refundable security deposit that acts as your credit limit, while an unsecured credit card extends credit without a deposit, based on your creditworthiness. Secured cards are typically designed to help individuals build or rebuild credit responsibly, as highlighted by the Consumer Financial Protection Bureau^b.

Your refundable security deposit is money that is held as collateral for your credit line on the secured card. Your credit line will match the initial amount you fund in your Fifth Third Momentum^® Savings Account. If you close your account and pay your balance in full, or are upgraded to an unsecured credit card, your security deposit will be released to you.

Saving for anything can sometimes take a little longer than expected, and that’s okay! If you don’t have the $300 minimum to open a secured credit card handy right now, you can set a savings goal. Once you’ve reached the minimum deposit amount, transfer the $300 into your Fifth Third Momentum^® Savings Account, and you’ll be ready to apply for your secured card.

• When managed responsibly, credit is a powerful financial tool. Strengthening your credit report allows you to increase your eligibility for higher credit limits and improve your prospects for future loans. Consistent, responsible use of credit, like with a secured credit card, positions you for consideration for an upgrade to an unsecured credit card.
• Responsible credit use includes activities like paying your bill on time, paying the minimum amount due (or more, if possible), and not exceeding your credit limit. Check out these tips on how to improve your credit score and keep credit in check.

You can use the Fifth Third mobile app or online banking to make a payment or, check your credit limit, balance and transaction history. You can also sign up to enroll in email or text alerts to remind you of payment due dates or to notify you of transactions on your account.

Yes, purchases with your secured credit card are safe. You’ll receive Zero Liability³ coverage on your secured card purchases, which provides protection from unauthorized purchases on your account.

No—people will not know this card is a secured card from looking at it. The design on the card looks like our traditional credit cards and does not have the word "secured" displayed on it.