Choosing the Best Secured Credit Cards

1
Secured Credit Cards
2
Secured Credit Cards

• Secured credit cards are ideally great for people
  who have a bad credit, no credit, or were in a
  recent bankruptcy since it gives them the
  opportunity to build on improving their credit
  scores thereby, giving them a new credit line.
  For creditors, a new credit line is a signal that
  someone is deemed creditworthy.

3
Secured Credit Cards

• In order to be able to get a secured credit card,
  the issuing bank usually asks for a security
  deposit ranging from 200 to 1000 depending on
  your credit limit which can be returned to the
  credit card user within a year or two. This is so
  because banks use this as a form of protection in
  case you cant pay the balance.

4
Benefit Of A Secured Credit Card

• Guaranteed approval -
• No credit checks

5
Benefits Of A Secured Credit Card

• Shows reliability -
• Timely payments to your bank shows that the risk
  of lending to you is small and that you are now
  financially capable to handle loans. Make sure
  however, that your credit card payments are
  reported to all 3 credit bureaus to help bring up
  your credit score.

6
(No Transcript)
7
Features To Look For In A Secured Credit Card

• Check the APR
• Like with any credit cards always do your
  research and settle for one that gives the best
  interest rate.

8
Features To Look For In A Secured Credit Card

• Read the fine print
• Look at the fees banks charge for late payments
  or for even reporting to credit reporting
  agencies.

9
Features To Look For In A Secured Credit Card

• Increase your credit limit
• By increasing your credit limit, you are giving
  yourself an opportunity to qualify for bigger
  loans and credit lines.

10
Do you have questions about rebuilding your
credit?
Join our Facebook group! Feel free to ask your
questions within the group!
11
JOIN OUR OTHER SOCIAL MEDIA COMMUNITIES!
NewHorizon.Org
NewHorizon.Org