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?

1 Answers
1 vote
Vote up!
Vote down!

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.

Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

Last Updated on: Fri, 8 Jun 2018

BBB-A--Rating TrustLink logo TrustLink logo