A secured credit card is a type of card that requires an initial deposit and is designed to help you improve your credit score. See our comprehensive guide here.
The Discover it® Secured Card can help you build credit with responsible use.1 Poor credit or a nonexistent credit history can make it more difficult to be approved for a credit card. One option is to apply for a secured credit card. But what is a secured credit card? Below, we’ll...
With a secured credit card, the amount of cash you deposit becomes yourcredit limit—the amount you can charge on the card. Since the deposit made to open the secured credit card account serves as collateral, it is not accessible to the borrower once it has been paid, but it stays in r...
Start using your secured card.Once you’ve received your card, you can use it to make purchases just like with a traditionalunsecured credit card. If your goal is to build credit, it’s important to use your credit card responsibly. That means doing things like making on-time monthly payme...
What things should I consider when shopping for a secured card? The whole point of getting a secured credit card is to build up a good credit score, so make sure that the issuer reports your credit behavior to the three credit bureaus. Some issuers may also provide benefits, like: ...
If you plan to apply for a school loan, buy a home or lease a car, it helps to have a positive credit history. But if you have bad or limited credit, you’re not completely out of luck. A secured credit card is one option that can help you build—or rebuild—your credit score....
Credit One offers cards for the full range of credit scores, but fees and rewards vary widely. Those with good to excellent credit will want to shop around.
If you’ve got a low credit score, or limited credit history in the US, you may be considering getting a secured credit card to build your credit history. But what is a secured credit card and how does it work? This guide covers how to use a secured credit card and how to build cr...
A secured credit card requires a cash deposit. The deposit reduces the risk to the issuer, making these cards an option for people with bad credit.
But, using a secured card responsibly can help establish good credit and make more lines of credit available to you in the future. Below, CNBC Select outlines how secured credit cards work, the credit requirements to get one and how to transition to an unsecured card. What we'll cover ...