Do you want to learn everything about the Truist Enjoy Cash Secured credit card? At Responsible Economy, we show you all the features you need to know: fees, interest, bonus, cash back, and more. We’ll also show you a comparison with the best secured credit cards in the United States. Let’s get started!
Explanatory video
We have created a video with all the features offered by the Truist Enjoy Cash Secured credit card:
Features
In this section, we will go through all the features one by one.
Fees
The Truist Enjoy Cash Secured credit card charges a non-waivable annual fee of $19. This is a major drawback, as there are other secured credit cards that do not charge any fees.
We also show you other credit card fees:
| Description | Fee |
|---|---|
| Annual fee | $19 |
| APR for Balance Transfers | 24.49% |
| APR | 24.49% |
| Cash Advance Fee | 4% of each advance or $10.00 minimum on transactions greater than $10 |
| Balance Transfer | 3% of each advance ($10.00 minimum) |
| Foreign Transaction Fee | None |
| Late Payment | $40 |
APR
If you pay your purchases in full by the due date, you will not be charged interest. However, if you carry a balance, you will be charged an interest rate of 24.49% APR. This interest rate is average for secured credit cards.
Cash back
You can earn up to 3% cash back on gas, 2% on utilities and groceries (with a combined $1,000 monthly cap), and 1% on all other eligible purchases. This is a very good feature because not all Secured Credit cards offer cash back on purchases.
Minimum deposit
The Truist Enjoy Cash Secured credit card requires a minimum deposit of $200. There is no maximum deposit. Your credit limit will be equal to your deposit amount.
Welcome bonus
The Truist Enjoy Cash Secured credit card does not offer a welcome bonus. This is a common feature among secured credit cards, as they are typically designed for people with poor or limited credit. A welcome bonus can be a valuable perk, but it is not essential for building credit.
Summary table
We have created a table summarizing all the features:
| Features | Truist Enjoy Cash Secured credit card |
|---|---|
| Fees | $19 |
| APR | 24.49% on balance for deferred payments |
| Cash Back | up to 3% |
| Initial Deposit | $200- |
| Welcome Bonus | $0 |
Comparison with the Best Secured Credit Cards
We have conducted a comparison of the Truist Enjoy Cash Secured credit card with the best secured credit cards available for application in the United States:
- Fees: $0
- Cashback: 1.5%
- Welcome bonus: $0
- Credit Score: No
- Fees: $0
- Cashback: 1%-5%
- Welcome bonus: up to $300
- Credit Score: 690-850
- Fees: 0
- Cashback: No
- Welcome bonus: No
- Credit Score: No
- Fees: 0
- Cashback: Up to 3%
- Initial deposit: $200-$5,000
- Welcome bonus: No
- Credit Score: No
- Fees: 0
- Cashback: 0%
- Initial deposit: $300
- Welcome bonus: No
- Credit Score: No
- Fees: 0
- Cashback: 0%
- Initial deposit: $200-$5,000
- Welcome bonus: No
- Credit Score: No
- Fees: $35
- Cashback: 0%
- Initial deposit: $200
- Welcome bonus: No
- Credit Score: No
- Fees: 0
- Cashback: 1,5%
- Initial deposit: $200-$5,000
- Welcome bonus: No
- Credit Score: No
- Fees: 0
- Cashback: 1,5%
- Initial deposit: $200-$5,000
- Welcome bonus: No
- Credit Score: No
Pros and cons
Here’s a table summarizing the pros and cons of the Truist Enjoy Cash Secured credit card:
| Advantages | Disadvantages |
|---|---|
| Up to 3% cash back | $19 Annual fee |
| No foreign transaction fee | No welcome bonus |
| Easy to qualify |
Requirements
To be eligible for the Truist Enjoy Cash Secured credit card, you must:
- Be a U.S. resident.
- Be at least 18 years old.
- Have a valid Social Security number.
- Have a steady income.
Conclusion and opinions
After the analysis carried out, our opinion is that the Truist Enjoy Cash Secured credit card is a competitive card because the minimum deposit is 200 dollars, it offers a cash back of up to 3% and has the trust of a bank like Truist. On the other hand, you must take into account the annual fee of 19 dollars.
Frequent questions
Now we answer all your questions about the Truist Enjoy Cash Secured credit card:
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Updated the day 8 September, 2023 by Alfredo Barandiarán
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