Whether you have not yet built your credit rating up or if you have had your share of obstacles which caused your credit rating to go down slow or take a complete dive, you can still obtain a credit card. When you think of secured cards, you may ask yourself, "Why bother?"
It may be your only alternative at this moment in your life and can be a step in the right direction.
A fully secured credit card can be a better alternative than a partially secured card because of the amount of finance charges you will have to pay on what you charge can be drastically different. One card issuer recently offered me a partially secured credit card in which I had to make a $95 security deposit in order to access the $300 credit limit. They also charged a $95 membership/application fee and a $29 fee for my second user card, which was charged to the bill decreasing the available credit even more. When I received the partially secured credit card with an outrageous yearly membership fee and second user card fee of $29, I find that their interest rate is 49.9% for the first year and will drop (provided you don't miss a payment or go over your credit limit) to 39.9%.
The following list of fully secured credit cards can be obtained and you can get a much lower interest rate on these cards. Feel free to apply and secure your new card or cards with your initial security deposit and pay your bill on time and always pay more than the minimum. Some card issuers will eventually offer you a non-secured credit card once you have proven yourself credit-worthy which is a perk in itself:
Applied Bank® Secured Visa® Gold Credit Card Guaranteed Approval Regardless of Your Past Credit History
9.99% Low Fixed APR - Your Rate Won't Change Even if You Are Late
Choose Your Credit Limit - From $200 to $5,000
Highest Ratings for Financial Strength and Security in the Country
Platinum Zero® Secured Visa® Credit Card from Applied Bank® ZERO - 0% FIXED APR on purchases - No Intro Rates!
ZERO - 0% Rate Won't Change - Even If You're Late!
ZERO Application Fees
ZERO Worries - FREE Personal ID Theft Protection
For other Secured Credit Cards and Prepaid Debit Cards to Help You Budget You Finances better, visit: www.CherokeeFinancialInc.com
I have both the First Progress Secured Card and the Applied Bank Gold Secured Card and I feel these both are the best for rebuilding my credit. I have also heard good things about the Capital One Secured Card and am going to open an account soon at www.freedebitcardstore.com 's website. These guys have just about everything I need.
ReplyDelete