SECURED CREDIT CARDS

Secured Credit Cards

Secured credit cards basically have you invest your money into a savings account from which you can access money. Depending on your credit you may have a limit that exceeds the deposit amount by as much as 100%. Some companies will "allow" you to charge the deposit - then you pay the deposit in monthly installments with charges. The only use for a card like this is to rehabilitate your credit. You are in effect "buying" good credit reports. If you are in the position that these are the only cards you can qualify for then you should consider getting them but make sure that they will not report as "secured" on the credit report. I have found a few that best meet your needs if all you want to do is buy yourself better credit fast.