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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.

3 Times Getting a Secured Credit Card Makes Sense

The best secured credit cards are an excellent tool for building and rebuilding credit fast. They give credit access to people who usually don't qualify due to low credit scores. At the same ...

Published:  Thu, 14 Mar 2019 04:27:00 GMT



Is the Apple Credit Card Worth It

The best credit cards for 2019 We've vetted the most popular cards on the ... need pay off debt faster with a 0% APR offer, or want to secured a massive sign-up bonus. You can see the full list by ...

Published:  Tue, 26 Mar 2019 08:26:00 GMT



Half of parents who entrusted their kids with this money move now regret it

Another option is a secured credit card, where you put in a cash deposit (say $1000) and that is what you can charge on the account. This story was originally published in 2017 and has been updated.

Published:  Mon, 25 Mar 2019 13:51:00 GMT



Apple Announces Apple Card Secure Credit Card With Daily Cash Back

Credit card numbers are issues on a per-device basis, and are secured either with Face ID or Touch ID. Ways you can use your Daily Cash For those times when can't use Apple Pay and need a more ...

Published:  Mon, 25 Mar 2019 11:01:00 GMT



How Do Secured Credit Cards Work Everything You Need to Know to Get Started

For those with poor credit, it can often seem impossible to get a credit card in your times of need. This can make it seem like there is no way out from a spiral of poor credit. Secured credit cards ...

Published:  Fri, 08 Mar 2019 05:00:00 GMT



What Is a Secured Credit Card and What Do You Need to Know In 2019

Secured credit cards are a good way for consumers with low or no credit, or who are looking to rebuild their credit, to get access to plastic, giving them an opportunity to build a better credit ...

Published:  Mon, 11 Mar 2019 03:58:00 GMT



Here's What Actually Happens When You Pay Your Credit Card Late

Many credit card companies, and mobile apps such as Mint ... need pay off debt faster with a 0% APR offer, or want to secured a massive sign-up bonus. You can see the full list by clicking here now. ...

Published:  Tue, 26 Mar 2019 03:14:00 GMT



How Do Secured Credit Cards Work Everything You Need to Know to Get Started

What if you could get easy access to credit when you need it the most For those with poor credit, it can often seem impossible to get a credit card in your times of need. This can make it seem like ...

Published:  Fri, 08 Mar 2019 12:05:00 GMT



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