(c) Copyright Resume Corner, Inc. DontSpendMore.com. All rights reserved.
Secured Credit Cards Review
What are Secured Credit Cards?
Secured credit cards are a wonderful option for rebuilding and establishing credit history. They are easy to obtain even with bad credit or no credit history. Responsible use of secured credit cards builds a good credit rating. For people who need to repair a bad credit history or who have never had credit may not qualify for a regular credit card. A secured credit card is the only option for them to establish or re- establish credit.Get a great credit card with 0% interest at DontSpendMore.com
Click here to compare and save on credit cards. Low APR and 0% APR credit card offers from multiple providers. Click here to save now. |
How to get a secured credit card?
Most of the credit unions offer secured credit cards to their members and also offer low interest rate credit cards and relinquish annual fees.Compare credit cards online at DontSpendMore.com
* This online application is subject to the terms and conditions as described in the Important Information Section of the application. |
||||||||||||||||||||||||||||||||||||||||||||||||
Charges on a secured credit card
All secured cards charge annual fees that vary dramatically.
Problems with secured cards
Secured cards have proven to be a good choice and sometimes the mere option for people starting out after a major life event such as job loss, divorce or serious illness. Secured credit card review has shown that secured credit cards can be categorized as the good, bad and ugly.
Good ones have low fees and they treat customers in a better mode. The bad secured credit cards take advantage and extort their customers because of their situations. Then, come the ugly ones that are completely despicable. The card issuers give you the card on conditions of buying some insurance policy.
Time period required for qualifying for a secured credit card:
The card issuing companies love to keep you as customers so most of the applicants qualify for an unsecured credit card after making the payments on time for a certain period. The average time required can be one year.
How to build an excellent credit rating with a secured credit card?
The key to rebuild or establish an excellent credit record with a secured credit card is to buy a few things and pay off the card every month. People having secured cards should not carry any balance. Interest that a card holder gets on his deposit is the same as in a savings account. The banks sometimes keep the deposit for a couple of billing cycles to cover any unexpected charges that arrive.
Secured credit card Verdict
While secured credit cards make sure that the card holders don’t spend more money than they can afford, experts have given the conclusion that one should not keep a secured card any longer than necessary. While these cards force you to save, they have higher interest rates and annual fees as compared to the regular unsecured cards.
Final Word
Since our society makes credit cards feel almost like a necessity, they have become an indispensible part for identifying legitimate customers. Secured credit card review helps us to differentiate between a debit card and a prepaid credit card i.e., a secured card. The former makes a withdrawal directly from the bank account whereas the latter takes money from an account that has been set up especially for the card. Secured cards keep you out of debt since you use what you deposited with the issuer.
| Thank you for visiting us. Do consider visiting DontSpendMore.com to compare and save on credit cards, cell phones, loans, long distance, mortgages, Internet access, and more. |
Click here to find out how to save money on credit cards
Compare and save on credit cards, cell phone, long distance, Internet access, mortgages, insurance, and more at www.dontspendmore.com
Home Contact Us Partners Tell A Friend Privacy Policy About Us Terms of Service