Household
Bank Credit Card
Household was the name of a major finance group founded in the 1800s.
From a small lending company, it acquired more assets and took the name Household International Inc. In 2003, it
was bought by HSBC and has since been a part of the HSBC Finance Corporation. Today, Household Bank offers two
credit cards to a variety of clients: the Household Bank MasterCard® and the Household Bank Secured
MasterCard®.
The first Household Bank credit card available to consumers is the Household Bank MasterCard®.
Bearing the MasterCard logo, this credit card is accepted at millions of retail stores and ATMs worldwide. It also
includes a fraud liability protection program and allows the Household Bank credit card holder to set personal
spending alerts. The Household Bank credit card also allows the cardholder to enroll in MasterCard services and
discounts through www.mcnearby.com. As staple features, it includes an online account system that allows the
cardholder to keep tabs on his account 24/7, manage it, pay his bills online for free, and request email
notifications or text messages on the card’s available balance and upcoming due dates. Customer service
representatives are also available for questions about the Household Bank credit card. Although this card does not
have an introductory APR, it has a relatively low purchase and balance transfer APR, a meager 14.9%. When a
cardholder misses a payment, goes over the limit, or makes a payment that is not honored by Household Bank, a
penalty APR of 29.49% may be imposed. Opening a Household Bank credit card account will also incur a $49 processing
fee and an annual fee that ranges from $35 to $79.
The second credit card from Household Bank is the Household Bank Secured MasterCard®. This credit card is intended
for consumers who are trying to establish or rebuild their credit history. With a minimum deposit of $200, a
secured Household Bank credit card may now be issued. This credit card also offers a zero liability protection
program and a free online account for the Household Bank credit card holder. Having an online account will allow
account payment and management and the choice to get email or text notifications for upcoming due dates. When a
deposit is not used entirely, it also has the chance to earn an interest. The secured Household Bank credit card
has an annual fee of $35(waived for the first year), a purchase APR of 7.9%, and a penalty APR of 29.49%.
Other fees that apply to both cards include a balance transfer fee and a cash advance fee of 5% of the amount or a
minimum of $5, a minimum interest charge of $1, and a foreign transaction fee of 3% of amount in US dollars. Since
activities of the Household Bank credit card are reported to all three major credit bureaus, a cardholder
can be assured of the improvement or establishment of his credit card report.
Source: Credit Cards For People With Bad Credit Rating
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