If you are in the market for a secured or prepaid credit card that could help you rebuild your credit history, let me introduce you to the Household Bank Credit Card.

This card is provided by HSBC and looking at the website, you have most of the information you need to make an informed decision.  In addition, the frequently asked questions section is also very useful.

Features of the Household Bank Credit Card

1. You can deposit from $200 to $15,000
2. Can be used anywhere the MasterCard sign is seen
3. Works like any other card, only the card provider and yourself would know the card is secured
4. Your credit line is equal to the amount of your deposit

Things To Like

The main things that the Household Bank Credit Card has going for it include but are not limited to:

1. Online account management – check your balances and other transactions from wherever you have internet access
2. Choose your card design and make the card a little more you
3. Receive wireless alerts on your account
4. If you want to see how your application is progressing, you can check it online
5. Other major benefits of this card include the 24-hour customer service desk.  You’ll have all the support you need no matter when you need it.
6. When you pay your previous bill in full, you’ll qualify for 20 days repayment grace period on purchases
7. You can access free online bill pay
8. For no extra charge, you can receive up to three additional cards for family members

The Household Bank Credit Card takes care of your security needs as well.  Not only does it offer lost and stolen card protection, but you have access to card replacement and emergency cash advance should you ever find yourself in need of it.

For fraudulent or unauthorised card usage, the Household Bank Card provides appropriate authorization protection for that extra piece of mind.

As an additional option, you can opt in for the credit protection plan.  This ensures all your fees, interest and monthly payment would cease should you have an unfortunate life changing event.

What You Need To Qualify

When applying for the Household Bank Credit Card there are a few requirements you would need to meet.  You should have:

1. Legal age to apply for a credit card
2. Annual salary of at least $12,000 if applying for an unsecured card
3. Residence in the USA
4. Valid social security number
5. A telephone at your residence

Once you are approved, you would receive confirmation of this by mail

Household Bank Credit Card does not offer guaranteed approval as your credit profile would need to be checked for a decision to be made.

The one thing I did not like about the Household Bank Card is that no where on the website could I find information on the initial APR, balance transfer fees or any other fees for that matter.

This seems a bit vague to me, why would you not want customers to see the rates, it brings up too many uncertainties in my mind.

The fees and rates are some of the main bits of information that I would want to know if applying for a credit card.  I know the interest rates would probably differ based on the credit profile but I would have liked to know a range at least.  This would help in my decision making.

If you are rate conscious you can certainly compare other prepaid/secured credit cards on the market, especially credit cards with transparent fees and rates.

To perform a comparison you can visit the Prepaid Credit Cards section of this website.  There’ll find a list of cards with some very attractive rates.