How Do Secured Credit Cards Work? - PowerPoint PPT Presentation

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How Do Secured Credit Cards Work?

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Secure Credit Cards work by using a security code that is unique to each cardholder. When the card is used, the code is entered on the card reader. If the code is valid, the purchase can be completed. If the code is not valid, an error message will be displayed and the purchase will not be processed. – PowerPoint PPT presentation

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Title: How Do Secured Credit Cards Work?


1
Credit Cards For People With Bad Credit
  • BadCreditResources.com

2
  • If you have less than the best credit, you might
    have seen advertisements guaranteeing you a
    credit card no matter your credit history or job
    status. The majority of these ads are actually
    for a secured credit card, which can be a
    fantastic way to rebuild your credit. Your credit
    may need rebuilding if you have a history of
    unpaid credit card bills, credit lines with bad
    credit, foreclosure, or personal bankruptcy.
    However, you need to remain vigilant against
    scammers out there promising a credit card for
    people with bad credit who do not deliver.

3
How Do Secured Credit Cards Work
  • Many people do not understand the difference
    between a secured and an unsecured credit card.
    The main difference lies in where the money comes
    from when you make purchases. An unsecured credit
    card is a common card released by many lenders.
    You borrow money to pay for your services and
    products and then you are allowed to pay the
    lender back with a rate of interest through
    credit card bills. A secured credit card for
    people with bad credit requires a preliminary
    deposit to establish you. You transfer anywhere
    from two hundred to 2 thousand dollars right into
    an account prior to making any acquisitions. What
    you buy is paid for using the money in your
    account. So you have control of your credit limit
    with just how much money you put into your
    account.

4
  • Unfortunately, in order to open an account for a
    secured credit card you must have the hundreds,
    and even thousands of bucks, it requires to
    secure the credit scores. This up-front cost
    makes it a too high credit card for people with
    bad credit, who are typically on a very strict
    budget plan as their debt takes up most of their
    extra income. Together with the initial deposit,
    you may need to pay application or set-up
    charges, and also you might be billed a charge
    when you make future deposits to your account in
    order to increase your credit limit. These fees
    appear on your credit card bills.

5
Credit Card Scams
6
  • If you search reliable banking organizations for
    their deals, there are genuine promos for a
    secured credit card out there as well as you may
    discover a number of them on the internet.
    Nevertheless, some companies attempt to lure
    consumers right into calling an incorrect number.
    The contact number listed in the ad is not
    toll-free but is a 900 number that you will be
    billed for utilizing. The fraudsters may lead you
    to believe that you can get a secured credit card
    as quickly as you call the listed number. In
    these incorrect advertisements, there is usually
    no mention of set-up costs, first down payment
    amounts, eligibility demands, or credit card
    costs, which will certainly be bigger than
    regular as a result of yearly charges and high
    interest.

7
How To Find A Fraud
8
  • Also, beware of calling 900 numbers. These
    numbers are not set as much as offer you a
    service. They are set up to make the company a
    profit and also your phone costs can reveal a
    cost up to 50 for a couple of mins.
  • a person offers you simple credit without any
    qualifications to get a card, he or she or the
    company is probably not telling you the whole
    reality. Any type of trustworthy loan provider
    must inspect your credit report before offering
    you a line of credit. When giving a credit card
    to people with bad credit, this preventive
    measure is real.

9
Get In Touch!
  • Phone
  • 1(832) 916-3229
  • Note
  • please note that we do NOT take applications over
    the phone.  No exceptions.

www.badcreditresources.com
  • Address
  • 447 Harwin Dr STE 210E, Houston, Tx 77036
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