A fresh start can provide an opportunity for individuals who may not meet the approval requirements for traditional banking products. Accounts and financial products that serve customers of “second-chance banking” are designed to bridge the gap for those with past issues in banking, those without a banking history and others who have banking and financial needs but have had challenges getting access to services.

Second Chance Checking Solutions

Budget Smart Checking ensures that customers of all financial histories can access safe, trusted and affordable banking. It enables them to save and build wealth for themselves or their families. Budget Smart Checking may be right for you if you're looking for a fresh start.

Fresh Start Credit Solutions

If you’re new to credit or you’ve had a few credit bumps along the way, a secured credit card may just be your fresh start solution.

How secured credit cards work:

• A secured credit card requires a cash security deposit, typically equal to the credit limit of the card you’re offered.
• The credit card issuer holds the deposit as collateral to cover any unpaid balances.
• When you upgrade to a regular credit card or close the account in good standing, you get the deposit back.

If you’re interested in a secured credit card, Cadence Bank offers a Secured Mastercard®. Our Secured Credit Card provides you the opportunity to help build or rebuild your credit with no annual fee. Find a branch or visit CadenceBank.com/SecuredCreditCard.

Credit Builder Loans

Cadence Bank offers loans to help you build credit. Credit Builder Loans are specifically designed to assist individuals wishing to build or repair credit and payment history. You don’t need a perfect credit score. Here’s how they work:

• A customer applies for a Credit Builder Loan.
• The Cadence lender will then place the loan amount in an interest-earning Certificate of Deposit (CD) as collateral for the loan.
• The customer makes on-time loan payments for a fixed term which are reported to the credit bureaus.
• After payments are complete, the loan amount plus any earned interest will be available for the customer.

Whether you need to build a credit history or repair poor credit, Cadence offers multiple solutions. Let us help you build or rebuild your credit history. Plant the seed and start growing your financial future today.

This article is provided as a free service to you and is for general informational purposes only. Cadence Bank makes no representations or warranties as to the accuracy, completeness or timeliness of the content in the article. The article is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.