Sable One Secured credit card full review
Discover the Sable One Credit Card through our review and take a step towards building your own credit by acquiring one of these fantastic credit cards.
Introducing the Sable One Secured Credit Card
Starting to build credit can be a daunting task, especially if you have no previous credit history. Secured credit cards provide a solution by offering similar benefits to regular credit cards, such as a credit limit, interest rates, and even rewards. However, the key difference is that secured credit cards require an upfront security deposit.
If you find yourself in a situation with low credit, no credit history, past credit issues, or without U.S. citizenship, consider applying for the Sable One Secured Card. One of the standout features of this card is that it does not require a U.S. credit history or Social Security Number for application. Additionally, cardholders have the opportunity to earn up to 2% cashback.
Applying for the Sable One Secured Card does not impact your credit score since there is no credit check involved. The approval process is also relatively simple.
How Does the Sable One Secured Credit Card Work?
As a welcome bonus, Sable Secured Card members receive a dollar-for-dollar reward equal to their cash-back earnings at the end of the first year of card membership. Essentially, this doubles their cash-back earnings instantly.
For example, if you earned $250 in cash back during your first year, Sable will match it with another $250, resulting in a total of $500 in cash back. Additionally, cardholders enjoy unlimited 2% cash back on eligible purchases made with Amazon, Hulu, Netflix, Spotify, Uber Eats, and Whole Foods. They also earn 1% cash back on all other purchases.
With the Sable One Secured Card, both the annual fee and late payment penalty are waived. However, a 2% foreign transaction fee applies to purchases made outside of the United States.
When you apply for the Sable One Secured Card, you are required to make an upfront security deposit, which serves as your credit limit. The deposit amount you choose determines your credit limit. For example, if you deposit $1,000, your credit limit will also be $1,000. The minimum deposit requirement is flexible with no maximum limit, allowing you to secure a credit limit of up to $10,000.
Sable Graduation Program
A standout feature of the Sable One Secured Card is the Sable Graduation Program. This program enables cardholders to transition from a secured credit card to an unsecured credit card in as little as four months.
During the program, you must achieve specific milestones, including:
- Using your Sable secured credit card for at least $250 each month.
- Completing a minimum of 15 transactions every month. Any in-person or online purchase made with your Sable secured credit card counts as a transaction.
- Maintaining a secured credit card balance with a monthly limit of at least $200.
- Paying at least the minimum amount due each month.
- Establishing a monthly payroll or regular payment of at least $150 from an external account or payroll provider to your Sable account.
If you meet your monthly goals consistently for at least four months, you become eligible for graduation. In the event that you fail to meet your goals, you have the opportunity to restart and try again.
The Sable Graduation Program not only helps you build good credit but also teaches you how to effectively manage your credit card and become a more responsible spender.
Benefits of the Sable One Secured Credit Card
In addition to cash-back rewards and an annual match, the Sable One Secured Card provides benefits typically associated with unsecured credit cards. These benefits include:
- Rental car insurance coverage.
- Extended warranty coverage for purchases made with the card.
- Guaranteed zero liability protection against unauthorized purchases.
- Satisfaction guarantees, price protection, and purchase protection for most purchases made within 60 days.
- Cell phone protection in case of theft or damage, including cracked screens.
How to Apply for the Sable One Secured Credit Card
If you are looking to build credit, earn cashback rewards, enjoy the benefits of an unsecured credit card, and expedite the process compared to other banks, the Sable One Secured Card is the ideal choice for you.
