A secured card is a great way to extend your business’s purchasing power while building credit. With this feature, you’ll continue using your existing Keep card with the same perks and functionality, but with the added flexibility to customize your credit limit by making a collateral deposit. In this guide, we'll walk you through how to get started.
In This Article
- How to Apply
- What Happens After We Receive Your Funds
- Frequently Asked Questions
Before You Begin
To be eligible for a secured card with Keep, you must:
- Have an active Keep Business Account.
- Be a business owner or an authorized administrator.
- Be able to deposit a minimum collateral amount to establish your credit limit.
Important: If you don’t already have a Keep Bank Account, you can open one here:
How to Open and Manage a Multi-Currency Account with Keep
What Is the Secured Card Feature?
The secured card feature allows you to increase the credit limit on your existing Keep card by making a collateral deposit. By depositing funds into your Keep Bank Account, you’ll increase your spending limit, matching it to the amount you provide as collateral.
For example, a $5,000 deposit increases your current credit limit by $5,000.
Over time, you may become eligible to transition to an unsecured limit based on your payment history and account activity.
How to Apply
- Contact Support or Your Account Manager
Reach out to your Keep Account Manager or our Customer Support team at support@trykeep.com to request a secured card. - Decide on Your Collateral Amount
Work with your Account Manager or Customer Support to determine how much you’d like to deposit as collateral. - Deposit Funds into Your Keep Bank Account
Transfer the agreed-upon amount into your Keep Bank Account. This deposit will held safely by Keep.
Need help depositing funds? Check out our guide on: How to Deposit Funds for a Secured Card - Enjoy Your Updated Credit Limit
After we receive and confirm your funds, we’ll update your credit limit accordingly, and you can begin making business purchases right away. Your current credit card with a blended secured and unsecured amount.
What Happens After We Receive Your Funds
- Once the funds settle, it could be instant or take up to three (3) business days, depending on the transfer method and your bank. You can start using the secured card immediately, with your newly established credit limit.
- Keep will monitor your account over time. If you maintain a positive payment history and meet eligibility criteria, you may be able to transition to an unsecured limit and have your collateral returned.
Frequently Asked Questions
- How long does it take to get approved?
There’s no complicated approval process or credit analysis. Your secured card limit simply matches the deposit you make. - Can I increase my secured credit limit later?
Yes. You can increase your limit anytime by depositing additional funds through the Banking section of your Keep dashboard. - When can I transition to an unsecured limit?
Keep periodically reviews accounts. If you maintain a positive payment history and meet eligibility criteria, your collateral can be returned while retaining your increased limit. Our goal is to make the transition as quick and seamless as possible. - Can I have my funds back at any time? Yes. You can request the return of your collateral at any time. If you wish to fully close your secured card and retrieve the funds, contact Keep Support or your Account Manager for assistance with the process.
Need More Help?
If you have any questions or need assistance with your application, please reach out to us at support@trykeep.com