Credit Cards (US)

OakStone Platinum Secured Mastercard® credit card full review

The OakStone Platinum Secured Mastercard® credit card has a high credit limit, and it helps rebuild your credit score. See the full review!

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by Aline Augusto

Published on 01/06/2022

OakStone Platinum Secured Mastercard® credit card

Read our full review to learn more about the credit card. Source: OakStone.
Read our full review to learn more about the credit card. Source: OakStone.

OakStone Platinum Secured Mastercard® is a credit card that provides you the opportunity to build credit. As well as gives you the chance to feel what’s like to have a platinum level card.

With a relatively low annual fee, it doesn’t require minimum credit score and it has one of the lowest APR in the market.

But, as other secured credit cards, it needs a cash deposit of at least $200. This will be used as credit limit, and can be up to $5,000.

In addition, it doesn’t provide you any reward program or welcome bonus, such as other secured credit cards.

As its sibling OakStone Gold Secured Mastercard® credit card, they are not available in some states.

However, since it reports to the three nationwide credit bureaus, it ensures you a good way to rebuild credit. 

Credit ScoreNone
Annual Fee$ 49
Regular APR9.99% Variable APR
Welcome bonusNone
RewardsNone
Oakstone Platinum Secured Mastercard credit card

How to apply OakStone Platinum Secured Mastercard®

Curious about how to apply for the OakStone Platinum Secured Mastercard® credit card and get started building your credit score? Read and apply now!

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How does the OakStone Platinum Secured Mastercard® credit card work?

Know all about the features of the credit card. Source: Freerange.
Know all about the features of the credit card. Source: Freerange.

The main advantage of OakStone Platinum Secured Mastercard® credit card is promoting the opportunity for you to potentially build your credit score.

As it reports to all major credit bureaus, it ensures you can develop a credit history.

Although the security deposit is required, you will be refunded if decide to close your account. But, note that you will only be able to do that if you have no outstanding debt.

Also, this deposit amount works as your credit limit, which is a good feature as other secured credit cards don’t usually have high credit line option.

On the other hand, this card doesn’t offer rewards, perks or welcome bonus.

OakStone Platinum Secured Mastercard® card benefits

The great deal about this card is that you don’t need to prove a good credit history to apply for it. As a result, you can build your credit score by using it.

Also, it has low rates and a high credit limit, from $200 to $5,000.

Besides, it gives you the 25-day grace period. For example, if you pay off the card balance in this period, you will not be charged interest. 

Pros

  • Low 9.99% Variable APR with no penalty rate
  • No minimum credit score required
  • High credit limit
  • Fast and easy application process 
  • Helps rebuild your credit score
  • Reports to all three nationwide credit bureaus
  • Includes free Real-Time access to credit score and credit monitoring
  • 25-day grace period

Cons

  • Annual fee
  • Not good for late payments, due to fees
  • Not available in NY, IA, AR, or WI
  • Secured deposit required
  • 3% foreign transaction fee
  • No reward program

How good does your credit score need to be?

Your credit score doesn’t have to be good for you to get your credit card. 

So, if you have bad or don’t have credit history, maybe this card is for you!

How to apply for an OakStone Platinum Secured Mastercard® credit card?

Now that you know all about credit card, read our post on how to apply for it!

Oakstone Platinum Secured Mastercard credit card

How to apply OakStone Platinum Secured Mastercard®

Curious about how to apply for the OakStone Platinum Secured Mastercard® credit card and get started building your credit score? Read and apply now!

About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by

Aline Barbosa

Senior Editor

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