Who Can Get a Secured Credit Card?
Credit can be difficult to get if you have no existing credit
history or you have a negative history. Credit has become
a very important part of our economy and is crucial if you
want to buy a house or a car. If you have a poor credit history
you might be able to qualify for a secured credit card anyway
secured credit cards offer most of the same conveniences that
regular or unsecured cards offer.
Because of the secured nature of the card almost anyone,
who has a few hundred dollars to put in the bank, can qualify.
Dues, fees and finance charges are very high with secured
cards. All you need to do is locate a company who offers secured
cards, make sure they have the lowest available fees, and
finance charges set up a savings account with them and you
Who will benefit from secured cards?
Secured cards are ideal for:
- People who have no credit history, like student or young
- People who have had credit problems in the past and want
to rebuild credit rating
- People who have recently filed for bankruptcy or
- People who have recently immigrated from another country