While Chase Manhattan Corp. was rewarding its best customers with lower rates, it also was unveiling a card geared to customers with less-than-pristine credit records.

The bank's new secured Classic MasterCard is priced more favorably than many such cards.

A growing number of banks are offering secured cards as a way to establish new relationships with consumers who have no credit record or blemished credit histories.

A spokeswoman said the cards will be initially available in its branches in New York and Connecticut.

Security Deposit

Analysts said Chase has been losing accounts to competitors, and that offering a secured card is one way of attracting new business.

Chase will charge secured card holders a $20 annual fee and a rate of 17.9%. The cardholders will be required to back their accounts with a security deposit equal to the desired line of credit.

The deposits will be held in federally insured money market accounts and earn a 4% fixed rate of interest.

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