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Monday, July 19, 2010

Secured Credit Cards to Improve Your Credit Score

In this day and time, I am a big proponent of secured credit cards, this was not always the case.  But with large credit card companies trying to save their own tails, cutting peoples credit lines in half (or less) for little or no reason, closing accounts for one reason or another, secured credit cards seem to be the a way for consumers to have a little control over their credit. This is especially true for those who are trying to rebuild their credit.

The biggest benefits of a secured credit card over a standard unsecured bank credit card is:
  • You have control over the credit limit.
  • Some secured credit cards will turn into unsecured credit cards, with timely payment history. 
  • Secured cards, when compared to low-limit cards for rebuilding credit, have a relatively low APR.
  • Because you have control over the credit limit, larger credit lines are possible, resulting in a higher credit score.

1 comment:

  1. Secured credit cards are great for building or rebuilding credit. Apply for credit card here.

    ReplyDelete

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The Federal Trade Commission requires that I disclose any relationship I may have between a product manufacturer or service provider when I write about a product or service.

My intention for this blog is to provide consumers with the knowledge to improve their current personal credit situation. It is the readers responsibility to do additional research and to make responsible decisions based on their own personal financial situations.

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