March 23, 2018

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Comparing Secured Credit Cards

Credit Score Changes

Own Your Credit Problems


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.

Tips for Traveling Solo on a Cruise

For assistance in ports, ask a shop owner rather than a random person on the street. Leave extra money and/or credit cards secured in your cabin. You may also want to stash a few bucks somewhere on your person, away from the other bills. Load your phone ...

Published:  Mon, 05 Mar 2018 15:44:00 GMT

Why You Might Need a Secured Credit Card

1. They can help build your credit history. Unlike prepaid credit cards, secured credit cards give you an actual credit line. Most lenders that offer secured cards will report your activity to the major credit bureaus, which can help grow your credit ...

Published:  Thu, 09 Apr 2015 05:18:35 GMT

6 Tips to Help Students Avoid College Credit Card Debt

You can manage that account on your own, or you can become a joint account holder with a parent. Just like traditional unsecured credit cards, secured credit cards help people build credit by reporting one's payment history to the credit bureaus (Equifax ...

Published:  Tue, 16 Jun 2015 09:21:32 GMT

Building Credit: Tips for students

It is important for students to build their credit wisely while in college. Credit cards become a little harder to obtain upon graduation until one can provide proof of income and financial stability. Credit Card Insider ( ...

Published:  Tue, 20 Mar 2018 17:06:00 GMT

Fight against credit card rate hikes

3. Secured credit cards Secured credit cards operate just like regular credit cards except they are secured by a deposit held by the issuing bank. In general you have to have $500 to $1,000 to get one of these secured cards. At first, your credit limit ...

Published:  Tue, 30 Jun 2009 09:21:00 GMT

Open Solutions IA Systems Releases New Business Lending Module

The various loan types supported by our Business Lending module include business lines of credit and credit cards (secured and unsecured), business term loans (non-vehicle), business real estate loans and overdraft protection. "With the unprecedented ...

Published:  Tue, 17 Feb 2009 16:00:00 GMT

Use this tool to build a better credit score in one year

If you have a thin credit file or a poor credit history, a secured credit card can be an excellent way to beef up your credit score. Unlike a credit card, where lenders give you money to use and then ask you to pay it back each month, a secured card works ...

Published:  Thu, 07 Sep 2017 03:40:03 GMT

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