MoneyGeek’s Take

OakStone Gold Secured Mastercard® Review

The OakStone Gold Secured Mastercard® is an excellent option for people with bad credit scores who are looking to rebuild their credit. It’s a secured card that offers a competitive APR to cardholders.

Advertising & Editorial DisclosureLast Updated: 11/8/2022
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Last Updated: 11/8/2022

The OakStone Gold Secured Mastercard® does not have a strict credit score requirement, which means it can help you rebuild your credit history. It charges a $39 annual fee and requires a minimum security deposit of $200.

MoneyGeek’s OakStone Gold Secured Mastercard® review will help you understand the card’s features and benefits, making it easier to decide if it will be the best fit for your needs.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Security Deposit Required
  • Has Rewarding Welcome Offer
  • Has APR Offer
  • Has Balance Transfer Fee
Click to see this card’s rates, fees and how they compare to other cards in our dataset.

OakStone Gold Secured Mastercard® at a Glance

The OakStone Gold Secured Mastercard® charges one of the lowest APRs when compared to other cards in the same category, which helps you save money. It also reports your credit history to the three credit bureaus. If you want to rebuild your credit, this card is essential.


  • OakStone Gold Secured Mastercard®

    A secured credit card meant for people with poor or no credit histories


    • None-PoorRecommended Credit
    • $39Annual Fee
    • $200Min. Security Deposit
    • 3# of Reporting Bureaus
    • 14.74%APR

Pros & Cons Explained

MoneyGeek explained the pros and cons of the OakStone Gold Secured Mastercard® to help you decide if this card offers features that can help you improve your financial health.

Pros

  • Benefits
    Description
  • Low APR
    This card charges a variable APR of 14.24%, which is relatively low compared to other cards in the same category.
  • No minimum credit score requirement
    You don’t need to have a good credit score to get approved for the OakStone Gold Secured Mastercard®.
  • Easy application process
    OakStone Gold Secured Mastercard®’s application is easy and simple. It allows you to submit your application online.

Cons

  • Drawbacks
    Description
  • No rewards program
    This card doesn’t offer a rewards program, unlike other secured cards that offer cash back rewards.
  • Annual fee
    This card has a $39 annual fee.
  • Foreign transaction fee
    The card charges a 3% foreign transaction fee.
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INTERESTED IN COMPARING THE BEST CREDIT CARDS OF 2022?

MoneyGeek didn’t feature this card in our roundup of the best secured credit cards for your wallet in 2022. You can review the list to explore your options and see if any other card better fits your financial needs.

Other Features Explained

MoneyGeek analyzed the OakStone Gold Secured Mastercard®’s features and explained them to help you determine if applying for this card is worth it.

  • Card Feature
    Description
  • Low interest rates
    The OakStone Gold Secured Mastercard® has lower interest rates than many other cards in the same category, which can help you save money if you tend to carry a balance.
  • Flexible credit limit
    This card allows you to set your credit limit anywhere between $200 to $5,000.
  • Reports to major credit bureaus
    The card reports to the three major credit bureaus, including TransUnion, Experian and Equifax, which is essential if you want to rebuild your credit history.
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MONEYGEEK QUICK TIP

Even if you have a bad credit score or no credit history, you can apply for this card. This makes it a great option to help build or rebuild your credit.

Understanding the Fine Print

Understanding the fine print of the OakStone Gold Secured Mastercard® can give you an idea of the various fees charged by this card. In turn, this can help you save money in the long run.

  • Card Feature
    Amount or Rate
  • APR
    14.74%
  • Annual Fee
    $39
  • Min. Security Deposit
    $200
  • Balance Transfer Fee
    Unspecified
  • Balance Transfer APR
    Unspecified
  • This is an icon

    Annual fee

    The OakStone Gold Secured Mastercard® charges a $39 annual fee. It’s normal for secured credit cards to charge an annual fee.

  • This is an icon

    Foreign transaction fee

    If you use the OakStone Gold Secured Mastercard® internationally, you would have to pay 3% of each transaction.

  • This is an icon

    Regular APR

    This card charges a variable APR of 14.24%, which is relatively lower than other cards in the same category

  • This is an icon

    Late fee

    You’ll pay a late fee of up to $41 if you’re late when making a payment.

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HOW TO FIND THIS INFORMATION ON YOUR OWN?

The best resource for this information is your credit card issuer’s website, mobile app, your latest billing statement or the credit card agreement database maintained by the Consumer Financial Protection Bureau.

Who Should & Shouldn’t Consider OakStone Gold Secured Mastercard®?

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Other Considerations for OakStone Gold Secured Mastercard®

Since your spending habits and whether or not this is your first credit card may impact how you use it, it’s best to keep the following considerations in mind before deciding to apply.

Things to Consider if This Will Be Your First or Only Credit Card

If the OakStone Gold Secured Mastercard® is the only card in your wallet or your first card, you can use it for your everyday purchases. This will positively affect your credit history and help you rebuild your credit score.

Also, you won’t have to worry about paying off your balance in full every month, as this card has one of the lowest interest rates among its competitors.

This is also a good first card since you don’t need any credit to apply for it.

Things to Consider if This Will Be an Additional Card in Your Wallet

If the OakStone Gold Secured Mastercard® is an additional card in your wallet, you can use it simultaneously with other secured credit cards to rebuild your credit history without worrying about reaching your credit limit.

However, it would be best if you didn’t use it while traveling internationally, as this card charges a high foreign transaction fee.

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WHY TRUST OUR REVIEWS:

At MoneyGeek, we follow a six-step process to review credit cards. Our methodology involves collecting credit card information, standardizing data points, analyzing potential cardholder profiles, considering annual and introductory bonuses, establishing the card values and reviewing data monthly to reprocess rankings.

How OakStone Gold Secured Mastercard® Compares to Other Cards

The OakStone Gold Secured Mastercard® offers a 14.24% APR, which is lower than other cards in the same category. However, it charges a foreign transaction fee and an annual fee. There are other cards in the same category that don’t charge annual or foreign transaction fees. As a result, you might want to consider other options if you want to rebuild your credit.

Quick Comparison of OakStone Gold Secured Mastercard®

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OakStone Gold Secured Mastercard®

  • Annual fee: $39
  • Purchase APR: 14.24%
  • International transaction fee: 3% on each transaction
  • Rewards rate: Not offered
  • Best for: People with bad or no credit scores who are looking to rebuild their credit history
creditCard1

Capital One Platinum Secured Credit Card

  • Annual fee: $0
  • Purchase APR: 27.24%
  • International transaction fee: $0
  • Rewards rate: Not offered
  • Best for: People with bad credit scores who are looking to rebuild their credit history with a card that offers multiple security deposit options

Other Helpful Decision-Making Q&As

MoneyGeek researched the following frequently asked questions about the OakStone Gold Secured Mastercard® to help you make a more informed decision about whether or not it’s the right card for you.

Still not sure about this card? Consider these options.

The OakStone Gold Secured Mastercard® is a good choice if you’re looking to rebuild your credit history with a card that charges a low-interest rate. However, if you want to explore other options, you can look at MoneyGeek’s list of the best credit cards for people with bad credit.

Learn more about credit cards in general

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.