Hey Neo community! 
We often see questions around why somebody should get a secured card. We’re here to answer some quick hitters.
Do secured cards have fees?
Yes. The secured Neo and World cards have a $5 monthly fee, while the secured Neo World Elite® card has a $125 annual fee.
Do I lose out on cashback when I use a secured card?
No. Both secured and standard versions have the same cashback rates.
What are the minimum and maximum amounts that I can put on my security fund?
For the secured Neo card, you can start with as little as $50, and go up to $10,000. For the secured Neo World and World Elite® cards, the minimum is $200, with a maximum of $10,000.
How much do secured cards help in building my credit score?
Every situation is unique, but making timely payments and managing your credit utilization can make a real difference. In fact, half of our secured cardholders see an average credit score boost of 26 points within just 3 months!
What happens to my security fund if I decide to switch to the standard version or close my credit account?
When you pay your balance in full, your security fund will be reimbursed whether you decide to switch cards or close your credit account.
Does my secured credit card work like a pre-paid card?
No. A secured card works just like a regular credit card, so you’ll still need to make payments based on your statements. Your security deposit amount is your credit limit.
Speaking of secured cards… guess what?
The secured Neo World Elite® just won its first award! It was recognized by Frugal Flyer as the best secured credit card!
Take a look here!
Hope this was helpful, everyone! If you have any questions, don’t hesitate to reach out. We’re happy to assist!