Is there anything extra special about secured credit cards? I mean, there's always the chance of losing out on my property in case I default. Could anyone possibly tell me how's it any different?

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Secured credit cards definitely happen to be a great idea and that too for more reasons than one. The only difference is that they're collateralized by cash. Secured credit cards help your credit rating quite a bit. When you're accepting a secured credit card, then it means you're putting a particular amount of money into a special savings account. This deposit won't be touched until you're unable to pay a certain amount of balance.


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