Credit Business

have quickly emerged as the tool preferred by most consumers looking to reestablish credit and do their own credit repair. But few consumers are aware these cards even exist. Many banks do not offer them, choosing instead to specialize in higher interest unsecured cards. While the use of both cards can impact the credit score, many people with less than perfect credit find a secured card is their only option. often carry much lower rates than their unsecured cousins, mainly because the credit line is secured by the card holder with a savings deposit. The bank pays interest on the savings account, and the card holder often gets a lower rate than if the card was unsecured. Applying for a secured credit card is now easier than ever, and online banks are typically the leaders in secured credit card options and features.

What are some notable advantages of secured cards?

LOWER INTEREST RATE

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