Quick Approval For A Bok Secured Credit CardFrankie Walls
You can get quick approval for a secure credit card today when you apply for the Bank of Oklahoma credit card. The bok secured credit card can help to improve your credit report and credit score. Learn more about this here.
What is the bok secured credit card?
The bok secured credit card is one that is issued by the Bank of Oklahoma. This credit card is secured by a deposit which you would have to make. Your credit limit will then be directly linked to the deposit you have made. So if you deposit, say $50, then your credit limit could be around $150. Bank of Oklahoma is free from the credit risk as your deposit serves as collateral for the credit card. The good news is that with the deposit you will be able to secure the credit card quicker than unsecured CCs. You would get back your deposit if you decide to close your CC account or after a predetermined period of time.
The bok secured credit card can help to boost Credit Score
By having a bok secured credit card and paying your balance as at when due each month, you will improve your credit report and boost your credit score. This secure CC is a good way of consolidating your credit or rebuilding a damaged one. Bank of Oklahoma reports your credit card account history directly to the Oklahoma state credit bureau. As you receive a favorable credit report, your credit score is improved. With an improved credit score, you can then apply for an extension to your credit limit.
The consequence of a bok secured credit card default
If you default on monthly payments on your bok secured credit card, you will stand the risk of forfeiting your security deposit. But this in itself is not the only consequence of default. You could also stand the risk of a poor credit account report which leads to a poor credit score.