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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.

Student vs. Secured Credit Cards: Which Should You Choose

A credit card is usually the first entry on most young adults' credit reports, but many find it challenging to get approved for that first card. Lenders are often hesitant to work with young adults, b...

Published:  Sun, 23 Sep 2018 12:29:00 GMT



This Credit Card Can Help You Repair Your Credit. Here's Why It's the Best of 2018

If you have a checkered credit history or none at all, secured credit cards can be the best way to build a positive credit file. If you're going to apply for credit card with bad credit, there are a f...

Published:  Mon, 24 Sep 2018 03:13:00 GMT



How to Convert a Secured Credit Card to an Unsecured Card

A history of missing credit card payments, filing for bankruptcy or other financial stumbles can make it difficult to get a credit card. However, you have another option. Applying for a secured credit ...

Published:  Mon, 23 Jul 2018 13:00:00 GMT



Tips And Advice For How To Use A Credit Card

Don't carry a balance Make payments on time Use credit cards to get credit history If you're worried about overspending, consider a secured credit card Sign up for autopay Carry A Balance On Your Card ...

Published:  Mon, 17 Sep 2018 09:22:00 GMT



SmartMetric Develops A Biometric Portable Health Records Card That Stores Your Medical Records Inside the Card That Is Secured By Your Fingerprint

NEW YORK, Aug. 07, 2018 (GLOBE NEWSWIRE) -- SmartMetric, Inc. (OTCQB:SMME) - Continuing SmartMetric's leadership in the invention of fingerprint secured ... RECORDS CARD Inside the SmartMetric biometr...

Published:  Tue, 07 Aug 2018 11:02:00 GMT



How a Secured Credit Card Can Help Your Credit

One of the easiest ways to build credit and improve a credit score is to open a secured credit card. Whether you're young and new to credit, or are looking to improve your credit score because of past ...

Published:  Thu, 05 Apr 2018 09:04:00 GMT



Why Should I Sign Up for a Secured Credit Card

Credit cards are useful tools for establishing yourself as a responsible payer in the eyes of financial institutions. Use them properly, and you'll build a history that will make it easier for you to ...

Published:  Sun, 22 Jul 2018 12:32:00 GMT



If You've Got Bad Credit, This Card Can Help You Fix It-and Won't Charge an Annual Fee

What you'll find is that not all cards for people with poor credit are bad. Some cards, like the Secured MasterCard from Capital One, can be a good tool to build or rebuild your credit. How to Get a C...

Published:  Tue, 12 Jun 2018 12:22:00 GMT



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