A secured card is a card that works like a credit card in principle, but has a security deposit that acts as the credit limit.
You’ll receive monthly statements as you would a regular credit card and you will be required to pay the statement amount before the statement due date to avoid interest accrual.
The only difference is that your credit limit is backed by a secured deposit in a “Sable Secured Deposit Account” that is held in your name and can’t be used unless you wish to reduce your credit limit or close your account.
Your secured credit card helps you build your credit history in the US and comes with added benefits such as cashback/rewards. For more details on the benefits, please click on the link below: