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If you’re the proud holder of a Sable ONE secured credit card, congratulations! We’re sure you’re already loving its sleek design, countless rewards and benefits, easy credit building, and five-minute sign-up process - to name just a few of its amazing features.

That said, there may be a few things you’re still wondering about, so we’ve gone ahead and compiled some questions you may have about your card and answered them all for you here.

Whether it’s adding your secured funds or increasing your credit limit, by the time you’ve finished reading you’ll be a certified secured credit expert. Go you!

What is a secured credit card, anyway?

A secured credit card is a type of credit card that's secured (or 'backed') by secured funds in a deposit account. The card functions much like a normal credit card, with monthly statements and minimum repayments, but you’ll need to add these secured funds to your account before using the card.

The funds you add are used as security on what you borrow, so you won’t be able to touch them until you reduce your credit limit, close your account or get upgraded to an unsecured card.

OK, so what’s my credit limit?

That’s a great question! Unlike many other types of credit card, with the Sable ONE secured credit card you’re able to set your own credit limit.

Remember those secured funds we talked about in the first question? Those are used to determine your credit limit. So if you deposit $200 in secured funds when you first get your card, $200 will be the maximum amount you can borrow without making a repayment.

There’s no minimum credit limit on our cards, so you can choose to deposit any amount you’re comfortable with, up to a maximum of $10,000.

How do I add my secured funds?

To add your secured funds, all you need to do is navigate to your Sable ONE secured credit card in the Cards screen of the Sable app and click ‘Increase credit limit’.

This will automatically deduct the funds from your Sable bank account to a reserve account to act as the security deposit for your credit limit!

Are my secured funds used to pay off my balance?

Your secured funds are used to determine your credit limit and are not used to pay off your balance. You’ll need to pay at least the minimum balance on your card on a monthly basis.

Can I increase my limit at any time?

Yes! Simply go to the app, head to ‘Cards’, scroll through to the ‘Secured Credit Card’ section, and click ‘Increase Credit Limit’. That’ll allow you to select a new credit limit and add additional secured funds from your Sable checking account.

Can I add my secured funds to the secured credit card without using my Sable bank account?

Your Sable ONE secured credit card was designed for effortlessly transferring funds between your bank account and credit card. That means that, at the moment, you can’t add funds from another, non-Sable account to your credit card.

If there’s money in another account that you’d like to put on your credit card, simply transfer those funds to your Sable bank account, and from there you’ll be able to move money onto your secured credit card in seconds.

Can I fund my Sable ONE secured credit card account using a debit card?

Not yet, but we’re working on it! We’re always working hard to make your life easier, so funding by debit card will be coming very soon.

Can I set up automated monthly repayments?

This is another very exciting new feature that is due to launch in the next few months! From July, you’ll be able to set up an automated monthly transfer from your Sable bank account to pay off all or part of your secured credit card balance. It’s a great way to ensure you never miss a payment and keep working towards an amazing credit score!

Oh, speaking of which…

Which credit bureaus are you reporting to?

Our secured credit card was created to help you get the awesome credit score you want. We report to Experian and Equifax on a monthly basis, and TransUnion is coming soon. We’ll start doing this three months after you start using your card, and retrospectively report your full credit history with Sable, starting from day one.

That means that every time you use your card and pay off your balance on time, you’re working towards a great U.S. credit rating!

When do I get my secured funds back?

Your secured funds will be returned to you when any of the following three things happen:

  • You reduce your credit limit
  • You get upgraded to an unsecured credit card
  • You close your account with Sable

In the case of the first one, you’ll get back the amount that you reduce your limit by. So if you have a $200 credit limit and you reduce that to $150, you’ll get $50 of your secured funds returned to you in your Sable bank account.

When will Sable launch an unsecured credit card?

We’re aiming to launch the unsecured card in the near future, so keep an eye out for more news on that over the coming months!

Didn’t see an answer to your question?

If you’ve still got any burning questions about your gorgeous Sable ONE card, please let us know! Our super-friendly support team is always happy to answer any questions you have, so drop them an email on help@sablecard.com if you need anything.

Who knows? We may even add your question to this blog and turn you into an overnight superstar!