Oakstone Secured Platinum – How To Apply

By Marcos • 07/31/2025

Looking to build or rebuild credit with added control? The Oakstone Secured Platinum Mastercard is a smart choice.

With a refundable security deposit and monthly reporting to the major credit bureaus, this card provides a practical path toward building a solid credit history—especially for those who are new to credit or recovering from financial setbacks.

How does the Oakstone Secured Platinum work?

The Oakstone Secured Platinum functions much like a traditional credit card but requires a security deposit, which typically becomes your credit limit. 

You can deposit as little as $200 or as much as $5,000, depending on what you’re comfortable with and what you need for everyday use.

Since the card is secured, it’s easier to get approved even with poor or limited credit history. 

Monthly activity is reported to all three major credit bureaus, which helps you build a positive credit profile as long as you make on-time payments and keep balances low.

Unlike many secured cards, Oakstone offers two versions: one with an annual fee and a lower APR, and another with no annual fee but a slightly higher interest rate. This flexibility allows you to choose the version that best fits your financial goals.

Main benefits of the Oakstone Secured Platinum

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One of the most appealing aspects of this card is that it doesn’t require a credit check for approval—making it a strong option for those rebuilding credit after financial setbacks or for newcomers to the U.S. credit system.

The low APR on one version of the card (around 9.99% variable) is another standout feature, offering a competitive rate that can save money if you occasionally carry a balance—something uncommon among secured cards.

Its flexible credit limit and refundable deposit give you more control over your spending, and because it’s a Mastercard, you can use it almost anywhere.

Cardholders also enjoy essential protections and conveniences, including fraud protection, online account management, and 24/7 customer service, making this card a reliable and secure tool for everyday use.

Drawbacks of the Oakstone Secured Platinum

One of the limitations of this card is that it doesn’t offer rewards, such as cash back or travel points. If earning perks is a priority, this card won’t satisfy that need.

Also, even though the low APR version is attractive, it comes with a modest annual fee (typically around $39). While this fee is lower than some competitors, it’s still a cost to factor into your decision.

Another drawback is that credit limit increases aren’t automatic—if you want to raise your limit, you need to deposit more funds. Unlike some other cards, Oakstone doesn’t promise a transition to an unsecured version over time.

Fees and interest rates

The Oakstone Secured Platinum comes in two main versions:

• One version has no annual fee, but a higher variable APR—usually around 14.99%.
  
• The other charges a $39 annual fee, but offers a much lower APR—as low as 9.99%.
  

Late payments can incur a fee of up to $40, and there may also be charges for returned payments or foreign transactions. However, there is no monthly maintenance fee or surprise costs beyond the standard structure, which helps keep things transparent.

Your security deposit is refundable when you close your account in good standing, and it can be adjusted upward over time based on your financial capacity.

How to apply for the Oakstone Secured Platinum

Applying is straightforward—visit the Oakstone Card website, choose your preferred version, and fill out the application form. 

You’ll need to provide some basic financial and personal information, and then submit your security deposit, which will serve as your starting credit limit.

Approval is nearly guaranteed as long as you meet the requirements, including being at least 18 years old and having a verifiable income. Because no credit check is required, your credit score won’t be affected by the application itself.

Once approved, you’ll receive your card in the mail and can begin using it just like a regular credit card, all while building or repairing your credit in a controlled and manageable way.

The Oakstone Secured Platinum Mastercard is an excellent option for anyone serious about improving their credit with minimal risk. 

While it lacks rewards, its combination of flexible deposit options, low APR (depending on the version), and no credit check approval process makes it a strong tool for financial recovery or credit building.