Are you in search of a credit card that facilitates credit score building? Look no further than the Sable One secured credit card. This innovative card allows you to select your desired security deposit amount, earn rewards, and progress towards unsecured credit.
In this article, we will closely examine the features of the Sable One Credit Card, highlighting why it is the must-have card of 2023.
Quick Overview
The Sable ONE Credit Card is perfect for credit rebuilding. Provided by a coastal community bank, it doesn’t require a credit check upon application.
By demonstrating responsible use, you can earn rewards and boost your credit score. Enjoy a no-cost annual membership, 1-2% cashback on purchases, and regular credit agency reporting.
While a Sable bank account may be necessary for the initial deposit, there’s no minimum requirement and the spending limit matches the deposit. Ideal for building credit.
» Update: Sable hit the snooze button on accepting new applications as it reviews and procedures. Stay tuned for the grand comeback! 💤🚀
Quick Facts
- No Annual fees
- 1-2% cash back on purchases
- No credit check required.
- Monthly reporting to credit bureaus
- Cell phone protection
- Up to $10,000 credit limit
- No SSN is required for non-US citizen.
- Rental car insurance.
- Foreign Transaction Fee of 2%
- You Can Graduate to Unsecured in 4 Months
Okay, now that we’ve got a quick overview of the Sable ONE Credit Card and the pros and cons it offers, let’s dive deeper into each feature.
Why should you apply for a Sable One Credit Card?
Check out the awesome benefits of the Sable Sable One Credit Card that make it a fantastic choice for folks with bad credit. Let’s dive into the details.
1. No Annual Fee
The Sable One Credit Card is a secured credit card that comes with a bunch of benefits for those who qualify. One of the best things about it is that it doesn’t charge an annual fee, which is great news for folks with less-than-perfect credit.
Another cool thing is that the Sable One Credit Card is right up there with the best-secured cards when it comes to annual fees.
So if you’re looking to rebuild your credit without breaking the bank, this could be the perfect choice for you.
2. 1 – 2% Cash Back on Purchases
The Sable Card is a top-notch credit card with generous rewards for purchases from Amazon, Hulu, Netflix, Spotify, Uber, and Whole Foods. Cardholders can earn an impressive 2% returns on these transactions, and 1% on all other purchases.
It’s an excellent choice for improving your credit score with no annual fees and rewards that give you an edge over other no-fee cards.
Sable provides a one-to-one reward match for the first twelve months, doubling your rewards. It’s a great way to get back on your feet financially.
3. Graduate to Unsecured Credit Card in 4 Months
The Sable One Credit Card presents an excellent opportunity for those striving for an unsecured credit card. Provided the eligibility criteria are met, you could be eligible to receive your unsecured credit card in as little as 4 months!
To be eligible,
- To be eligible, It is essential for the account holder to pay their bill in a timely manner each month.
- Accumulate 15+ transactions a month, including one that is worth $250 or higher.
- Been approved for a credit limit of more than $500 over the past 4 months.
The Sable One Credit Card is an excellent choice for individuals hoping to elevate their credit rating and upgrade to a card that doesn’t require collateral.
3. No membership fees.
Unlike some secured credit cards, the Prosper card doesn’t have any membership fees. That makes it a wallet-friendly option for folks dealing with bad credit.
You won’t find any sneaky hidden fees or extra charges with Prosper. It’s the perfect choice if you’re after a straightforward credit card.
Oh, and the only fee you’ll need to worry about is the annual fee, which is a cool $0.
4. Qualify with limited or no credit history.
You can qualify for the Sable One Credit Card even if you have limited or no credit history. This makes it a good option for people starting to build their credit.
The Sable One Credit Card is a good option for people who have bad credit but want to improve their credit score.
5. Very Low APR
The Secured Sable ONE Credit Card is a great option if you want a card with low APR (12.49% Variable) and excellent benefits.
Carrying a balance isn’t recommended with this secured card since you’ll only pay interest on your deposit. Compared to other secured cards (18.95% average APR), it’s a top choice.
6. No social security number is required.
Want card but don’t have a social security number? No worries! Sable, a bank accessible to non-U.S. citizens, doesn’t require an SSN to open an account.
Just provide your passport, U.S. Visa, and U.S. address to apply for a card in the Sable app.
Having a Sable card can help build your U.S. credit history and make it easier to rent or set up utilities. Consider Sable for credit without an SSN.
7. Doesn’t require a credit check.
For consumers with poor or limited credit history, the Sable ONE Credit Card offers a great opportunity to start building credit from day No credit check is required, so your credit score won’t be affected.
With a secured deposit, even those with bad credit can be approved. If you’re at least 18 and can make monthly bill payments, the Sable ONE Credit Card is a fantastic option.
Rebuild your credit today and enjoy the benefits.
8. Unique Security Deposit Requirement
The Sable ONE Credit Card is a great option to improve your credit score. The Secured Sable ONE Credit Card has a spending limit equal to the security deposit.
You must transfer money from a Sable bank account into the security deposit to use the card. The more money you put in the deposit, the better it is for your credit score, assuming responsible spending.
The unique security deposit makes this card ideal for improving credit score and avoiding debt. Remember, make timely payments on your card balance to avoid fees and penalties.
9. Cell Phone Protection and Other Benefits
Replacing a stolen or damaged phone can be costly. The Secured Sable ONE Credit Card offers cell phone protection, reimbursing up to $600.
Enjoy a purchase satisfaction guarantee, price protection, extended warranty coverage, and car rental insurance. It’s the credit card with plenty of perks.
10. Credit limit to $10,000 credit limit
Theable one secured credit card is a solid choice for folks aiming to boost their credit score. With the sable one secured credit card, your spending limit matches the security deposit amount, giving you the potential for a credit limit of up to $10,000.
To activate the card, simply transfer money from your Sable bank account into the security deposit. The more you put into the deposit and spend responsibly, the better it is for your credit score.
11. Credit is Reported to major credit bureaus.
By utilizing the Sable one secured credit card, you can build a positive credit history.
This card reports your credit activity to major credit bureaus, allowing responsible credit use to contribute towards enhancing your credit score.
Why should you not get the Sable ONE Credit Card?
So, now that we’ve covered all the awesome benefits and features of the Sable ONE Credit Card, let’s dive into the drawbacks, shall we?
Let’s take a look at some of the not-so-great aspects of this card.
1. Security deposit required to access credit limit.
The main downside of the Sable ONE Credit Card is that you have to make a security deposit to access your credit limit.
This can be an issue if you’re trying to improve your credit score but don’t have any money to put down as a deposit.
The amount you can spend is limited by the size of your security deposit. So, if you’re looking for a credit card with no deposit required, the Sable ONE Credit Card isn’t the right choice.
2. Sable bank account required.
One downside of the Sable ONE Credit Card is that you actually need to have a Sable bank account in order to use it.
This can be a bit of a hassle if you don’t already have an account with them or if you’re not interested in opening one.
I mean, who wants to go through all that trouble just for a credit card, right? So, if you’re on the lookout for a credit card that doesn’t require a Sable bank account, the Sable ONE Credit Card might not be your best bet.
3. No cash advances or balance transfers
The Sable ONE Credit Card doesn’t do cash advances or balance transfers. So, if you’re after a credit card that has these features, then the Sable ONE Credit Card ain’t the right pick.
Who is this credit card best for?
The Sable ONE Credit Card is perfect for folks who:
- Are you trying to improve your credit score?
- Have a Sable bank account.
- Don’t mind making a security deposit.
- Want a credit card with plenty of perks and benefits.
The Sable ONE Credit Card is a great choice if you meet all of the above criteria.
The alternative of a sable one secured credit card?
If you’re uncertain whether the Sable ONE Credit Card is the right fit for you, here are a handful of alternative credit cards worth considering:
- Capital One® Platinum Secured Mastercard®
- OpenSky® Secured Visa® Credit Card
Let’s quickly run through all the alternatives mentioned above, shall we?
Sable ONE Credit Card Vs. Capital One® Platinum Secured Mastercard
The Sable ONE Secured Credit Card outshines the Capital One® Platinum Secured Mastercard in several remarkable ways.
Unlike its counterpart, it waves off annual fees and boasts a lower APR, ensuring you save more money.
The Sable ONE Secured Credit Card presents enticing rewards rates of 1% to 2%, a perk the Capital One® Platinum Secured Mastercard regrettably lacks.
A noteworthy advantage lies in its accessibility – non-U.S. citizens can enjoy all the benefits without the need for an SSN. With the Sable ONE Secured Credit Card, you’ll experience unparalleled value, convenience, and financial empowerment.
Sable ONE Credit Card Vs.OpenSky® Secured Visa® Credit Card
The Sable ONE Secured Credit Card is superior to the OpenSky® Secured Visa® Credit Card. It has no annual fee, unlike the OpenSky® card, which charges $35.
The Sable ONE card also offers 1-2% cashback, whereas the OpenSky® card does not provide rewards.
The APR for the Sable ONE card is 12.49% (variable), while the OpenSky® card has an APR of 17.39% (variable).
Unlike the OpenSky® card, the Sable ONE card does not require an SSN for non-U.S. citizens.
What Is the Credit Score Needed for Sable ONE Secured Credit Card?
You don’t need a credit check for the Sable ONE Secured Credit Card. Simply make a security deposit to access your credit limit. So, your credit score doesn’t affect your approval for the card.
Can you increase your credit limit with the Sable ONE Secured Credit Card?
Looking to boost your credit limit? With the Sable ONE Secured Credit Card, it’s a breeze! Just hop onto the app, navigate to the ‘Cards’ section, and scroll on down to ‘Secured Credit Card.’
Tap on ‘Increase Credit Limit,’ pick a new limit, and you’re good to go! You might need to add some secured funds from your Sable checking account, but it’s totally worth it for that higher limit!
How to Apply for Sable ONE Secured Credit Card?
Applying for the Sable ONE Secured Credit Card is a breeze! You’ll have it done in no time.
To get started, just follow these simple steps and you’ll be enjoying all the perks of being a cardholder in a jiffy:
1) Go to Sable’s website and choose ‘Open An Account
2) Provide some personal information
3) Download the Sable app to finalize your account
4) And that’s it. If you don’t have a Social Security Number, no problem! Just bring your passport, U.S. Visa, and U.S. address instead, and we’ll scan your passport.
The entire process should only take around 5 minutes total.
What are the eligibility criteria for Sable ONE Secured Credit Card?
There aren’t any strict eligibility criteria, but Sable might want to check your creditworthiness. To qualify for the Sable ONE Secured Credit Card, you’ll need to meet the following requirements:
- Be at least 18 years old.
- Have a U.S.-based checking account.
What is the Customer care number for Sable ONE Secured Credit Card?
If you need customer service for your Sable ONE Secured Credit Card, there are a few ways to get in touch with the company. You can start by emailing help@sablecard.com or giving them a call at 1-888-583-8383.
The company has earned 3.7/5 stars on Trustpilot, but only a handful of customers have reviewed the new service. Sable Money has an A- rating with the Better Business Bureau (BBB) but is not BBB-accredited.
Overall, it looks like Sable is attentive to their customer’s needs and offers multiple communication channels – so if you’re having any trouble with your card, don’t hesitate to reach out!
How to cancel your Sable ONE Secured Credit ?
Cancelling your Sable ONE Secured Credit Card is easy – simply call customer service at 1-888-583-8383, and they’ll take care of the rest. You can also email help@sablecard.com, but we recommend giving them a call so you can speak to someone directly.
Conclusion: Is Sable a good credit card?
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The only downside is that there’s no way to pre-qualify for the card, so you won’t know if you’re approved until after you’ve applied. But if you’re willing to take that risk, the Sable ONE Secured Credit Card could be a great option for you!
We hope you found this Sable ONE Secured Credit Card review helpful! If you have any questions that we didn’t cover, feel free to reach out in the comments or contact customer service directly.
FAQ
What kind of credit card is Sable ONE?
If you don’t make your payments on time, the card issuer can use your deposit to cover the cost of your debt. And because Sable ONE is a secured credit card, it’s available to people with bad credit who may not be able to get an unsecured credit card.
What kind of credit card is Sable ONE?
If you don’t make your payments on time, the card issuer can use your deposit to cover the cost of your debt. And because Sable ONE is a secured credit card, it’s available to people with bad credit who may not be able to get an unsecured credit card.
Is Sable ONE a Good Credit Card?
What is the maximum credit limit for Sable ONE?
Who should get the Sable Secured Credit Card?
The deposit is used as collateral if the cardholder doesn’t make their payments. The Sable Secured Credit Card can help people with bad credit improve their credit history. To get the Sable Secured Credit Card, the cardholder may not go through a credit check and provide their social security number.
