Central Bank World Secured Mastercard® Review
This is a
secured credit card
issued by Central Bank.
If you're wondering whether Central Bank World Secured Mastercard® is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.
- High APRs. This is not a great card for people who carry a balance. It has a
- 4% Balance transfer fee. Central Bank World Secured Mastercard® charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees.
The minimum fee is $10.
- Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
- Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
- Multiple credit card benefits. Includes generous credit card perks, such as access to a concierge, emergency support,
identity theft protection, and fraud protection.
- Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have good approval odds.
Pros & Cons of Central Bank World Secured Mastercard®
- Multiple credit card perks.
- Access to a concierge.
- Identity Theft Protection.
- Considers applicants with fair or poor credit.
- Central Bank World Secured Mastercard® reports to multiple credit bureaus.
- Higher than average purchase APRs.
- Charges an annual fee of $25
- Does not offer a signup bonus.
- Does not offer rewards or cash back.
- Charges a foreign transaction fee of 3%.
- Charges a 4% balance transfer fee.
Central Bank World Secured Mastercard® FAQ
Does Central Bank World Secured Mastercard® have a cash back or rewards program?
No, it does not offer a rewards program.
What are the Central Bank World Secured Mastercard® benefits?
It provides the following benefits:
- Emergency Support
- Zero fraud liability
- Reports to major credit bureaus
What are the relevant APRs for Central Bank World Secured Mastercard®?
According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance.
It has higher than average regular APRs.
It has a
The card has a
balance transfer APR
It also has a
cash advance APR
Does Central Bank World Secured Mastercard® have an intro APR offer on balance transfers?
No, it does not come with an intro APR offer for balance transfers.
Does Central Bank World Secured Mastercard® have an intro APR offer on new purchases?
This card does not offer an intro APR rate on new purchases.
What are the fees for Central Bank World Secured Mastercard®?
The following fees apply:
- There is no overlimit fee
Central Bank World Secured Mastercard® Fees
|Foreign Transaction Fee
|Returned Payment Fee
||up to $35
|Late Payment Fee
||up to $35
Does Central Bank World Secured Mastercard® have a foreign transaction fee?
Central Bank World Secured Mastercard® charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge foreign transaction fees.
What is the customer service phone number for Central Bank World Secured Mastercard®?
The Central Bank World Secured Mastercard® customer service number is (866) 236-8744.
Does Central Bank World Secured Mastercard® report your account activity to credit bureaus?
Yes, Central Bank World Secured Mastercard® reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
How to apply for Central Bank World Secured Mastercard®
- Visit the Central Bank World Secured Mastercard® website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
- Check the information is accurate and submit your application.
If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.
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