What Secured Credit Card Is Best?
A secured credit card is a great option for those with poor or damaged credit.
It is a
great tool to use in order to rebuild and re-establish a positive payment history with
the credit reporting agencies.
To open a...
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What Secured Credit Card Is Best?
A secured credit card is a great option for those with poor or damaged credit.
It is a
great tool to use in order to rebuild and re-establish a positive payment history with
the credit reporting agencies.
To open a secured credit card you typically have to
deposit an amount of money equal to the limit that you wish to receive on the card.
This acts as security in the event that the account is defaulted on.
The card works
just like a regular card.
You can charge up to the limit, and you will receive monthly
statements with a minimum payment due, although it is suggested you do not run
up a high balance and have to end up paying finance charges.
This is a tool designed
to help improve your credit, and having a high balance report will actually lower
your score.
A great way to use a secured credit card is to charge a small purchase on it every
month.
Something such as a tank of gas or a dinner outing is a great example.
When
you get the billing s
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