What is a secured credit card?

     A secured credit card is a credit card that you have to make a security deposit on first. This makes it less risky to the card issuer because if you do not pay they can take it from the deposit. 

wallet and credit cards

     This is a good option for people with bad credit. Often the best way to build credit is with a credit card, but it takes a good credit score to obtain a decent one. 

     If you use this card responsibly it reports favorably on your credit report building your credit if you have none and raising your score if you have bad credit.

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Secured credit card




















Sources:

https://www.nerdwallet.com/blog/credit-cards/secured-credit-cards-vs-unsecured-difference/