2 Secured Credit Card vs. Unsecured Credit Card
When you get a toWealth Credit Card, you also get a Security Deposit Account (aka the “Savings Account”). The Savings Account is an interest earning savings account that doubles as your Security Deposit. The Savings Account is opened for you at The Bank of Missouri, member FDIC. To start, toWealth deposits $5 into your Savings Account to establish it, then you will receive a toWealth credit card which begins with an unsecured limit (up to $2,500). Your Credit Card starts out Secured by the $5 provided by toWealth, making it a Secured Credit Card. However, unlike traditional Secured Credit Cards, you receive an unsecured limit (up to $2,500) upon issuance of your Card. Funds in your Savings Account are subject to severe limits on withdrawal while there is a balance on your Credit Card Account.
3 Savings Account Rates, Terms and FDIC Insurance
As of August 1, 2026, the Savings Account has an Annual Percentage Yield (“APY”) of 2.37% on balances. The APY is not guaranteed and is variable. Your Savings Account funds held at The Bank of Missouri are eligible for FDIC deposit insurance coverage up to $250,000 per ownership category and per institution. You will be responsible for monitoring the total amount of deposits that you hold with The Bank of Missouri to determine the extent of FDIC deposit insurance coverage is available to you. You will be able to check the toWealth Mobile App to determine the balance of your Savings Account.
4 toWealth Credit Card Rates, Terms, and Payment Info
The toWealth Credit Card has an Annual Percentage Rate (“APR”) of 35.99% and Credit Limits ranging $100 - $2,500. Example 1: A $300 Credit Card Balance at 35.99% APR has a required monthly payment of $115.85, which includes a payment of $15.85 towards the Credit Card Balance and $100 into your Savings Account. Example 2: A $1,000 Credit Card Balance at 35.99% APR has a required monthly payment of $241.13, which includes a payment of $41.13 towards the Credit Card Balance and $200 into your Savings Account. Your monthly payments will pay down the amount you owe on your Credit Card and simultaneously increase your Savings Account balance. Over time, by making on-time payments, your Credit Limit will increase and ultimately match your Savings Account balance, making your credit card balance 100% secured. See details for additional information about rates, fees, and other terms.