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Secured Credit Cards

Secured Credit Cards help people with bad credit or no credit to build or reestablish credit history. For a bank to issue a secured credit card you must deposit an amount into a bank account. The amount of money deposited now become your credit line on the secured credit card and can be used just like a regular credit card.

Build Credit History with Secured Credit Cards

For people with limited or no credit history it can be difficult to get unsecured lines of credit. Secured credit cards give you the opportunity to build or reestablish your credit history.

You are guaranteed approval when you apply for a secured credit card, but the credit card companies require collateral before they issue the card. Make a deposit into a special savings account and that deposit now becomes your credit line. You are not allowed to make withdrawals from this account while you have the secured card. In case you default on your credit card payments the card issuer is authorized to deduct the credit card balance from the savings account.

You can choose your own credit line determined by your security deposit and you will have a card that works like any other credit card and can be used in stores, for online purchases, car rental reservations and cash advances.

The credit card issuer will report your payment history to the 3 major credit bureaus and if you remember to pay the bill on time the lenders will award your financial responsibility with an unsecured credit card.

* Please see the credit card application for complete details about terms and conditions of each secured credit card offer. We have made reasonable efforts to maintain accurate information for all credit card offers. However all credit card information is presented without warranty.