December 15, 2017

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Comparing Secured Credit Cards

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Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Comparing Secured Credit Cards

Secured credit cards are synonymous with rebuilding credit. For those that can't qualify for a credit card from a standard creditor, secured credit cards fill a huge void. Thankfully secured cards are easy to apply for even if your credit history and credit score have taken a huge hit. When comparing secured credit cards it's important to look at several aspects of each offer to find the right one that will provide the flexibility you need as well as get you back on track financially. Here's what to look for when comparing secured credit cards:

  • Understanding the respective fees of secured credit cards is imperative. Many secured credit card companies knows there's an element of desperation with many of their clients and will subsequently stick it to them in fees. Application and activation fees are not always charged with secured credit cards but be on the lookout for them. Annual fees can range from $50 to several hundred dollars. When you're looking for the right secured card look closely at the annual fees. You won't be able to avoid an annual fee with any secured card but you can be smart and look for one that is affordable.
  • Once you've proven yourself with a collateralized card, many secured card companies are willing to issue a small line of credit to test you out. Low credit limits are often the case for someone without a solid credit payment history. Before you choose a secured credit card make sure you understand the company’s policies regarding when they will review your card for a potential credit line. Some companies will start the process right away while others will wait over a year before approaching the idea.
  • Collateralization payment should be quick and easy. Without another credit card you'll need convenient options to load and reload your secured credit card. Do they offer credit loading stations that accept cash? Can you send a check? Are money orders required? Making sure it's easy to use your card each month, without too much hassle, will align you for better success.

Secured credit card options, for those with a less than perfect financial past, are plentiful across the internet. Be smart and avoid being a victim to overpriced application, activation and annual fees that are common with secured credit cards. Be sure and look closely at all aspects of the credit card offer before moving forward. Secured credit cards can help improve your credit history but not if you're over spending on fees.

120 Days in the Life of a Secured Credit Card

Without regard to how one got into the situation of an impared score as low as 350, akin to getting a 400 SAT score for showing up with or without a pencil, life without a credit card is almost undoable. A secured card can help. Instead of a loading a ...

Published:  Fri, 08 Dec 2017 09:12:00 GMT

Capital One Platinum Prestige Credit Card

There are more attractive options for people who want to repair their credit, such as the Discover it Secured Card. This card will help you pump up your credit score while also offering rewards. Cardholders will get 2 percent cash back on restaurants and ...

Published:  Fri, 01 Dec 2017 00:00:00 GMT

Best Credit Cards to Rebuild Credit

Limited credit history or working to rebuild your credit Secured credit cards are a great option for you. These cards offer an effective way to build credit. In fact, most of the cards we review will report your payment history to all three of the credit ...

Published:  Tue, 12 Dec 2017 04:34:00 GMT

How to Get Personal Loans With No Credit Score

and if you're going to have a credit card with no credit history, a secured credit card is the way to go. They're ideal for people who can't qualify for a regular credit card, secured by a cash down payment that acts as your credit limit. Keep your ...

Published:  Mon, 11 Dec 2017 14:29:00 GMT

10 Things to Know Before Getting a Credit Card

The two types of credit cards Credit cards come in two types: secured and unsecured. Secured means you'll have to put down a cash deposit. A secured credit card is a good type of credit card for those with low or no credit. The downside is your card limit ...

Published:  Sun, 10 Dec 2017 10:00:00 GMT

Should I Add My Child as an Authorized User on My Credit Card

It's a tough situation to be in, and while there are ways around it (like opening a secured credit card, which is a good credit-building option for those out in the real world for the first time), many of those who get denied are forced to resort to a ...

Published:  Thu, 07 Dec 2017 10:14:00 GMT

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