|Posted by Percy A Lowe on September 19, 2012 at 9:45 PM|
What is a secured credit card?
Most credit card obligations are unsecured; that is, no property or funds are pledged for repayment of the credit card debt. However, some credit card issuers have programs where the credit card obligation is secured by a deposit account (bank account) savings or checking. The target population for secured cards has historically been people whos credit scores are below average. The target populations for unsecured credit cards are most people who have maintain above adverae credit score. Those who credit scores dropped below average and have bankruptcies can use secured credt cards to boost their score back up. There is no risk to the secured credit card holder because of the deposit account. With education a secured credit card can be very helpful for life. Everyone think of the bills you pay that never gets reported to the credit report as good payments. How would you think your credit score would look if you could get everything you pay on reported to the credit bureau for good payments? Well don’t think no more I have the solution right on the site you are on right now. Please check out the Secured Credit card link to your left. If you have any question please leave an inquiry and make sure you become a membr as well.
Categories: Building Credit Score