The New Millennium Bank secured credit cards can help rebuild your credit history if you have a poor credit history.

These secured credit cards from New Millennium Bank can also help you establish your credit history if you have a limited credit history or no credit history at all.

New Millennium Bank does NOT perform credit checks, and you will be approved for these secured credit cards regardless of your income or bad credit history.

Secured credit cards can be used anywhere regular credit cards can be used including online purchases, car rentals, phone purchases, and everywhere else you can use a credit card.

New Millennium Bank secured cards help you fix your credit history by reporting your on-time payments and solid account history to all 3 of the major credit bureaus including Experian, Equifax, and TransUnion.

By making your credit card payments on time to New Millennium Bank, you will be able to repair your credit history and increase your credit score, so that you may be eligible for an unsecured credit card in the future.

Unlike Unsecured Credit Cards that provide you with an unsecured line of credit, secured credit cards require you to deposit funds into a savings account, which act as collateral for the credit line available on the credit card.

The New Millennium Bank secured cards have a minimum balance requirement of $300 that you must deposit into the savings account and a maximum balance of $5,000.

You’re credit limit will be equal to the exact amount of money you deposit into this savings account, and you may also opt to apply for both a Visa card and a MasterCard from New Millennium Bank for a total maximum credit limit of $10,000.

Having both the Visa and MasterCard versions of these New Millennium Bank cards will also rebuild your credit history twice as fast, since both credit cards will be reported to the credit bureaus.

You can deposit additional funds into your savings account at any time to increase your credit limit up to the maximum of $5,000 per card.

The money you deposit as collateral into the FDIC-insured savings account will earn interest at a rate of 6.0% interest for the first 3 months, and then 2.0% interest for the next nine months, which equals a 3.0% Annual Percentage Yield for the first 12 months of your account. After the first 12 months, your account will earn a 2.0% APY. These rates are subject to change.

However, you may not withdraw money from your savings account at any time like you would be able to with other savings accounts. If you wish to withdraw your money, you must close your account first, and then your full deposit will be returned to you.

These credit cards are secured through the money you deposit into the collateral savings account, but you must actually pay your credit card balances from a different source, because that savings account is strictly to act as collateral.

It’s important to understand that there are some fees associated with the New Millennium Bank secured credit cards.

The New Millennium Bank Secured Gold Visa® or Mastercard® has an annual fee of $59, and there is a one-time application processing fee of $69.95 for 1 card and $99.95 for both the Visa and MasterCard together.

Both the New Millennium Bank Secured Black Diamond Visa® or Mastercard® and the New Millennium Bank Platinum Visa® or MasterCard® also have an annual fee of $59, but they have one-time application processing fees of $99.95 for 1 card and $129.95 for both the Visa and MasterCard together.

However, these one-time application fees and the annual fees of $59 may be a small price to pay to rebuild your credit history, which will help you save money overall and reduce the interest rates you pay on your other loans.

These cards do have a relatively high interest rate at 19.5%, so they’re definitely not ideal to carry large balances from month to month, but that’s probably the best APR you’ll find if you have a bad credit history.

It’s also important to understand that these secured credit cards have no grace period before finance charges are applied to your new balances, so your purchases and cash advances will immediately begin to accrue interest charges.

It’s best to use these cards wisely with the goal of increasing your credit score, and you should avoid making unnecessary purchases on them, as the interest charges could easily become overwhelming.

Just use these cards to make a few regular purchases toward the end of each of your billing statements (to prevent interest charges from accumulating throughout the entire billing statement), and then pay your balances off in full as quickly as possible.

That way, you will be able to avoid excessive interest charges and have your positive activity reported to the credit bureaus, which will help rebuild your credit history and increase your credit score.

In order to apply for these secured credit cards, you must first fill out the online application form provided in the links throughout this article.

New Millennium Bank will then send you a secured credit card application in the mail, which you must complete and return with the processing fee.

Once they receive the application and processing fee, New Millennium Bank will send you the documents needed to open your savings account that will provide collateral for the secured credit card.

You need to complete the savings account documents and then return them with the initial deposit to secure your credit card, which must be a minimum of $300.

If you want 2 credit cards, then you must provide 2 initial deposits.

If you’re in a hurry to receive your card, New Millennium Bank can rush the processing of your new secured card for an additional fee of $12.95.

Check out the details of the secured credit cards from New Millennium Bank.

New Millennium Bank Secured Black Diamond Visa/MasterCard

New Millennium Bank Secured Black Diamond Visa® or Mastercard®

• Approved regardless of credit history
• Credit limits up to $10,000*
• Reports to all 3 bureaus
• Get cash at over 740,000 ATMs
• No credit check

Apply Now!

* Terms and conditions apply.

New Millennium Bank Secured Platinum Visa/MasterCard

New Millennium Bank Platinum Visa® or MasterCard®

• Reports to ALL 3 Bureaus
• No Credit Check
• Be Approved Regardless of Credit History
• Special High Introductory Savings Rate
• Bonus $3,000 credit line with My Computer Club

Apply Now!

* Terms and conditions apply

New Millennium Bank Secured Gold Visa/MasterCard

New Millennium Bank Secured Gold Visa® or Mastercard®

• Approved regardless of credit history
• Credit limits up to $10,000*
• Reports to all 3 bureaus
• Get cash at over 740,000 ATMs
• No credit check

Apply Now!

* Terms and conditions apply.

Millennium Advantage Pre-Paid MasterCard

Millennium Advantage Pre-Paid MasterCard®

The Millennium Advantage Pre-Paid MasterCard is also available from New Millennium Bank for consumers with poor credit; however, it does not report to credit bureaus, so it’s not designed to build your credit history, but it does provide a good option for consumers with poor credit who don’t want a secured credit card.

• Use your card at over 900,000 ATMs and millions of locations worldwide!
• No credit check or income verification required
• No Chexsystem check
• No minimal balance required!
• Phone and On-line account access
• Shop and pay bills on-line!

Apply Now!

Take advantage of these New Millennium Bank secured credit cards that are available to anyone regardless of their income or credit problems to start rebuilding your credit history today.

Thanks and enjoy maximizing your money.