Secured vs. Unsecured Credit Cards

May 25, 2020

When searching for a credit card, you’ll come to find that you have two general options: Secured credit card Unsecured credit card While these are similar in many ways, there are also several differences that you need to familiarize yourself with. What’s the Difference Between Secured and Unsecured Credit Cards? When most people think about credit cards, it’s the unsecured variety that comes to mind. You apply for a card, receive it by mail, and use it to make purchases up to your credit limit. But with a secured credit card, there’s one major difference: a deposit is required to
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Things to Know About Secured Credit Cards

May 10, 2020

More consumers than ever are taking the time to learn more about secured credit cards. While it’s not the first choice of many individuals, it’s a tool to strongly consider, thanks to a variety of high-level benefits. A secured credit card works just the same as an unsecured credit card, with one major difference: you’re required to provide a refundable security deposit in exchange for a line of credit. Yes, this means money out of your pocket to obtain the card, but after that, you can use it the same way as any other credit card. Note: the security deposit
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Should You Consider a Secured Credit Card?

February 15, 2020

Do you have bad credit or no credit? Are you finding it difficult to obtain a credit card? Are you almost ready to give up?  Perhaps it’s time to consider a  secured credit card. Fortunately, there’s a financial tool that’s perfect for you (and millions of others in the same situation): a secured credit card. A secured credit card is designed for consumers with bad credit, no credit, or a short credit history. It requires a cash deposit upon opening an account, which then acts as your credit limit. So, if you make a deposit of $500, you then have
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5 Benefits of Secured Credit Cards

January 29, 2019

Do you have bad credit or no credit? Is this making it difficult (if not impossible) to apply for a credit card? If you don’t qualify for a traditional, unsecured credit card, there’s another idea to consider: a secured credit card. With a secured credit card, you’re required to make a deposit to receive an approval. This deposit then serves as your credit limit, as well as collateral. For example, if you deposit $1,000 you’re able to spend up to this amount. Also, if you default on your account, the lender has the legal right to keep the deposit. Despite
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Prepaid or Secured Credit Card

October 30, 2018

Prepaid or Secured Credit Card : Which is Best for You?  Do you have poor credit?  How about no credit history? If so, you may find it difficult to obtain an unsecured credit card. Fortunately, there are other options available to you. Most people with poor credit or no credit find that they can use a prepaid or secured credit card to their advantage. Is it the Same Thing? On the surface, prepaid and secured credit cards appear identical. And in many ways, they are. Both types require you to deposit funds in order to use the card. Also, both
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The Benefits of Secured Credit Cards

April 3, 2018

Are you finding it difficult to qualify for a traditional credit card? Are you interested in learning more about a secured credit card? Do you have reason to believe that this could improve your financial situation? Secured Credit Card In many ways, a secured credit card is exactly the same as a traditional credit card. However, there is one major difference: with a secured credit card, you are required to make a deposit in order to receive an approval. The deposit is collateral for any purchase you make. So, if you default in the future, the card issuer has the
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Secured Credit Card – What are the Benefits?

January 9, 2018

Are you finding it difficult to qualify for a traditional credit card? Are you interested in learning more about a secured credit card? Do you have reason to believe that this could improve your financial situation? In many ways, a secured credit card is exactly the same as a traditional credit card. However, there is one major difference: with a secured credit card, you are required to make a deposit in order to receive an approval. The deposit is collateral for any purchase you make. So, if you default in the future, the card issuer has the legal right to
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