Benefits of a Secured Credit Card
Whether you're starting out or starting over, the
secured credit card is a great way to build your credit
Building a credit history
Secured credit cards are excellent to start your
credit history. If you are finding it difficult to
get a credit card, secured cards are relatively easy.
The card companies report your activity to the credit
reporting companies, giving you a foundation for your
Re-establishing a poor credit history
Secured credit cards are a wonderful way to repair
your credit history. Even if your credit history is
poor, you will be able to qualify for a secured credit
card. Being able to list a Visa or MasterCard with
consistent on-time payment history should be a good
Same privileges as regular credit cards
Your secured credit gives you many of the same privileges
as an unsecured card as long as your credit limit
is fairly strong. You can charge most anything and
make hotel, airline or rental car reservations.
Quick eligibility for a regular card
By using your secured card wisely, paying more than
the minimum and on time you can qualify for an unsecured
card in as little as 12 months.
You can use your credit card to reserve rental cars
and hotel rooms, but many agencies won't accept debit
It is safer to carry a credit card than cash. And
with a credit card, you'll have the money available
for your emergency.
An extra benefit of using credit cards is that they
provide a level of security and you are protected
by the Fair Credit Reporting Act.