Secured credit cards provide consumers that have little to no credit, the option to carry a much needed credit card... in this way, secured credit cards help people get back on their feet financially.
Overland Park, KS (PRWEB) July 09, 2012
TopConsumerReviews.com has released their ratings for the best Secured Credit Cards available today.
A secured credit card provides individuals that suffer from poor credit with a credit card option. Secured credit cards typically are collateralized with a cash deposit. Generally the amount of the cash deposit is the equivalent to the line of credit. Once responsible use of the credit card has been demonstrated by the cardholder, secured credit card companies will often decrease or elminate the collateralization requirements - creating the convenience of having a credit card while also helping to improve a languishing credit score.
How to choose the right secured credit card? Secured credit cards come with different policies and rules. When considering a secure credit card, consumers should compare a variety of factors. Some of the secured credit card differences include collateralization requirements, credit limit, interest rates, annual fees, and more. Independent credit card reviews are a good source of information to help consumers sort through the various secured credit card options.
“Secured credit cards provide consumers that have little to no credit, the option to carry a much needed credit card,” explained Brian Dolezal, of TopConsumerReviews.com, LLC. “For these individuals, approval from most banks isn't an option. You start by depositing cash as collateral in order to open your account. Regular credit card purchases draw from this account, which is replenished by the cardholder. Responsible spending and account activity often leads to credit card companies migrating the cardholder from a secured credit card to a traditional credit card. In this way, secured credit cards help people get back on their feet financially.”
To find out more about secured credit cards, including reviews and comparison rankings, please visit the Secured Credit Cards category of TopConsumerReviews.com at http://www.topconsumerreviews.com/credit-cards-secured/.
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