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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.

The Debate: Secured Vs. Unsecured Credit Card

When looking for your first credit card, you might initially be overwhelmed by the number of options available to you. Rewards cards, travel cards, secured cards, and unsecured cards: you might ...

Published:  Fri, 16 Aug 2019 21:47:00 GMT



North Carolina mother stole her children's identities to open 12 credit cards, deputies say

Investigators arrested Bristol Kay King, 34, on 12 counts of identity theft and unlawfully obtaining credit cards. She was booked in jail on a $120,000 secured bond. The ages of her children were ...

Published:  Fri, 16 Aug 2019 04:58:00 GMT



Review Of The Green Dot Platinum Visa Secured Credit Card

Having a bank account is usually one of the requirements for obtaining a credit card. But did you know there are millions of "unbanked" consumers here in America? Being unbanked makes it quite a ...

Published:  Wed, 14 Aug 2019 14:47:00 GMT



Maximizing your spending: Send your kid to college with a credit card

If your child has low credit or no credit history, Vasudevan suggests considering a secured credit card. "After an initial deposit, the card works similarly to a traditional credit card and it can ...

Published:  Wed, 14 Aug 2019 14:14:01 GMT



WATCH Nicholasville CBD company accepting credit cards again

The Kentucky Attorney General's Office has confirmed it has secured restitution for 1,400 Auto Plaza USA customers who were overcharged.

Published:  Wed, 14 Aug 2019 22:06:00 GMT



Cerro Gordo woman accused of stealing juveniles' identities to obtain credit cards

Tatum said a detective was assigned to investigate the case and probable cause was found to charge Bristol King with 12 counts of unlawfully obtaining a credit card and 12 counts of identity theft.

Published:  Wed, 14 Aug 2019 12:53:00 GMT



SmartMetric Sees Massive Adoption of Biometric Credit Cards Based on Research Report That Forecasts 579 Million Biometric Credit/Debit Cards in Use By

SmartMetric is excited that it is now able to offer its biometric secured credit and debit card product to card issuing banks around the world. The company has successfully added the ADVANTIS credit ...

Published:  Fri, 09 Aug 2019 12:46:00 GMT



What Makes a Good Secured Credit Card?

Secured cards can be a good way to build credit when you have no credit or poor credit and when you can't qualify for a traditional credit card. These cards require that you put down a deposit. In ...

Published:  Sat, 03 Aug 2019 05:08:00 GMT



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