The credit limit of a secured credit card is determined by the amount of the security deposit you provide, with credit limits often equal to or slightly higher than the deposit. So, it is not possible to use this credit card if you don’t place a security deposit as collateral.

Secured credit cards are generally easier to get approved for compared to unsecured credit cards, especially if you have a limited or poor credit history. This is because secured credit cards require you to provide a security deposit, which acts as collateral for the credit line you’re given. The deposit reduces the risk for the card issuer, making it more likely for them to approve your application.

The OakStone Gold Secured Mastercard can assist you in building credit by requiring a security deposit, reporting your payment history to credit bureaus, and providing an opportunity to demonstrate responsible credit use over time, which can positively impact your credit score.