Huntington Bank does not offer secured credit cards at the time of writing, a corporate customer service representative told us.
Secured credit cards essentially use the customer’s savings account as collateral for the card while helping to increase the individual’s credit score. We were told that The Voice Credit Card is the only credit card option offered by Huntington Bank.
The Voice Credit Card offers a standard line of credit. The customer service representative couldn’t share the specific formula used to determine approval for the card, but an individual’s credit history, salary, and debt-to-income ratio are factors.
One tip we were given for parents hoping to help their adult children build credit it to add their child as an authorized user on their Voice Credit Card account. Credit will build for all authorized users of the card. But, keep in mind, the main account holder is responsible for all charges on the card.
When we contacted Huntington Bank locations in Illinois, Pennsylvania, and West Virginia, bankers said secured and unsecured personal loans are also available.
Secured loans are tied to a customer’s home or vehicle, while unsecured loans are much like an unsecured credit card and require certain criteria for approval.