Plastk Secured Visa Credit Card Review
The Plastk Secured Credit Card is a new secured credit card with a premium rewards program that enables you to earn reward points on every purchase where Visa is accepted. There’s no limit on how much you can earn, and the amount of reward points you earn does not depend on the category the merchant uses to classify your purchase.
There are many redemption options such as statement credits, merchandise, gift card, travel rewards, and charity donations. In addition, the card provides credit insights to take control of your credit and get rewarded for it.
The Plastk Secured Credit Card can help you build credit since it reports to credit bureaus like Equifax and Transunion, so as you use your card responsibly, you will build your credit history.
Overall, it is a great credit card for those who would like to establish or rebuild credit (People with challenged credit, new immigrants and students with no credit history).
The Plastk Secured Credit Card allows users to establish and build credit. You will be required to make a deposit to use this financial product. Whatever amount you make as a deposit will become the credit limit. Individuals with imperfect credit are still eligible for this card. There is a $48 annual fee and a $6 monthly maintenance fee. The interest rate is 17.99% which is slightly lower than the 19.99% industry standard. For the first three months of card ownership, the APR is 0% on purchases.
As you spend, you earn points which are convertible into cash back rewards at a rate of 250 points to $1. You must have a minimum of 2,500 points to make a redemption. It is possible to transfer points to another cardholder through the Plastk portal. There is currently a sign-up bonus of 5,000 points which is worth $20. The bonus points will become available to you after three months of card ownership. There is also the opportunity to earn additional points through Plastk’s referral program.
There are a few other perks associated with this card. You can access your monthly credit report with Plastk powered by Equifax. The card also comes with Zero Fraud Liability and the ability to send funds through Interac e-transfer.