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1. Research Secured Credit Cards: Begin by researching different secured credit card options available from various banks and credit unions. Look for cards that offer reasonable terms, such as low ...
OpenSky Secured Visa Credit Card: Best Secured Credit Card. Petal 1 Visa Credit Card: Best for Broad Approval Criteria. Deserve MasterCard: Best for International Students. Capital One Platinum ...
Key takeaways. Secured credit cards require a cash deposit to establish your line of credit. The credit limit for a secured card is typically equal to the amount of the deposit.
Most experts recommend keeping credit utilization below 30 percent of your available credit limits at all times, but this can be difficult with a credit limit as low as $200, a typical starting ...
A secured credit card is a type of credit card secured by a deposit account owned by the cardholder. Typically, the cardholder must deposit between 100% and 200% of the total amount of credit desired. Thus if the cardholder puts down $1,000, they will be given credit in the range of $500–1,000.
An Important Note on Credit Card Use. Credit cards make it possible to spend more than your budget allows. This can be dangerous. When you do that, you end up paying for the past well into the future.
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