A Secured Credit Card is a credit card that allows you to establish or rebuild credit with responsible use.  Secured Cards require a refundable security deposit that is held as collateral for the account.

A history of on time payments and moderate use of credit card accounts, along with other factors, helps build a good credit history.  Your activity on a Secured Card is reported monthly to Experian, one of the three major Credit Reporting Agencies (CRAs) in the U.S.  Your usage of the Secured Card and payment history can help to build your credit score¹.

If you meet the following requirements, you may apply for a secured card by navigating to the Explore More Products section on the app Dashboard, finding the Secured Credit Card tile in the carousel, and tapping Learn more.

Requirements for a Secured Card:

1) You must be 18 years old or older

2) Have a US home addresses in one of the following states: California, Washington, Nevada, Texas, New York, Massachusetts and Georgia

3) Have a US mobile phone number

4) You must have an EWB deposit account with funds equal to your chosen credit limit.  A hold will be placed on that account for the credit limit amount.

Disclaimer:

¹ We may report information about the status and payment of your Account to credit reporting agencies and other creditors.  East West Bank will report this information using the available personal identifying information you have provided to us or provide to us at a later date.  However, based on your overall credit profile, we cannot guarantee the credit reporting agencies will develop a credit score if your overall credit profile is limited. You can learn more about how we report Credit in your Secured Visa^® Classic Credit Card Agreement.

A Secured Credit Card is a credit card that allows you to establish or rebuild credit with responsible use.  Secured Cards require a refundable security deposit that is held as collateral for the account.

A history of on time payments and moderate use of credit card accounts, along with other factors, helps build a good credit history.  Your activity on a Secured Card is reported monthly to Experian, one of the three major Credit Reporting Agencies (CRAs) in the U.S.  Your usage of the Secured Card and payment history can help to build your credit score¹.

If you meet the following requirements, you may apply for a secured card by navigating to the Explore More Products section on the app Dashboard, finding the Secured Credit Card tile in the carousel, and tapping Learn more.

Requirements for a Secured Card:

1) You must be 18 years old or older

2) Have a US home addresses in one of the following states: California, Washington, Nevada, Texas, New York, Massachusetts and Georgia

3) Have a US mobile phone number

4) You must have an EWB deposit account with funds equal to your chosen credit limit.  A hold will be placed on that account for the credit limit amount.

Disclaimer:

¹ We may report information about the status and payment of your Account to credit reporting agencies and other creditors.  East West Bank will report this information using the available personal identifying information you have provided to us or provide to us at a later date.  However, based on your overall credit profile, we cannot guarantee the credit reporting agencies will develop a credit score if your overall credit profile is limited. You can learn more about how we report Credit in your Secured Visa^® Classic Credit Card Agreement.

You need to meet the following requirements to apply:

1. You must be 18 years of age
2. Have a U.S. home address in one of the follow states: California, Washington, Nevada, Texas, New York, Massachusetts and Georgia
3. Have a U.S. mobile phone number
4. You must have an existing East West Bank deposit account with funds equal to or greater than your chosen credit limit.  A hold will be placed on that account for the credit limit amount you select.

Note: A Social Security Number is not required to apply.

If your application is approved, you can expect to receive your card in about 10 days to the address you provided in your application.

Your monthly payment must be made each month and cannot be withdrawn from your security deposit. You are responsible for continuing to make at least your minimum monthly payment each month. Your security is held, in full, until your account balance is $0 for at least forty-five (45) days at which time it will be released to you. You can pay more than your monthly minimum to reduce or entirely avoid interest charges on your account. See the section “How to Avoid Paying Interest on Purchases” in Terms and Conditions.

Your security deposit may earn interest if it is being held in a consumer account where interest is accrued based on the terms and conditions of that consumer account. 

Security deposit holds are released three (3) business days after your application is declined or withdrawn for consideration.

Your security is held for the life of your account unless otherwise released in part or in full at our discretion. When you close your account or when we close your account, we will continue to hold your security for up to forty-five (45) days or until all monetary activity has been posted to your account, whichever is later.

You can call the number on the back of your card to close the secured credit card account. When you close your account, we will continue to hold your security for up to forty-five (45) days or until all monetary activity has been posted to your account, whichever is later.

Yes, you can add your Secured Credit Card to a digital wallet and make purchases at a store, online or in app if the merchant accepts mobile payment.