Last Updated 14th June, 2013 Secured credit cards, prepaid debit cards and Visa gift cards are all alternative methods of payment to a traditional unsecured credit card. But which one of these cards is the right match for you? Understanding the key differences between secured credit cards, prepaid debit cards and gift cards can help […]
About Secured Credit Cards
A secured credit card is a card where you essentially put up cash as a deposit. Let’s say $500, or maybe even $1,000.
Whatever amount you turn over to a bank that is issuing you a secured credit card becomes your credit limit. If you put up $500, then you get a secured credit card issued to you in the amount of $500, which gives you a $500 limit.
Last Updated 21st April, 2013 Having a credit card – or even a couple of credit cards – isn’t always a bad thing for young adults, provided they learn about credit management and use credit wisely. This Article Answered The Following Money Questions:first credit card for young adultRelated Articles, Financial Advice and Videos:Secured Credit Cards: […]