What’s a security deposit?

What’s a security deposit?

If you open a secured credit card account, you’ll provide us with funds that we hold as collateral for charges made on the secured card while the account is open. The funds you provide are known as your security deposit. 

We’ll keep the security deposit in a separate bank account maintained by the bank. If you graduate to an unsecured card or close your account with a zero balance, we’ll refund your security deposit.