Secured Credit Cards

Secured credit cards are one of the best ways to build your credit score!

If you’ve suffered a serious financial setback, such as bankruptcy, loss of a job, medical emergency, divorce, etc., chances are that your credit score has changed significantly.  And more than likely, you’re having a hard time getting the credit you need.  If that’s the case, the best way to start rebuilding your credit score is with the use of one or more secured credit cards.

Secured credit cards are essentially credit cards that you guarantee with a security deposit that you make up front when you apply for the credit card.  Many secured credit cards require only a small deposit, others require a security deposit that is equal to the credit line that you establish.  This security deposit may be held for the entire time that you have the credit card account or it may be refunded later on, once that you have established a solid payment history.

Either way you choose to go with your secured credit card, secured credit cards work just like traditional unsecured credit card accounts.  And the best part is that secured credit cards report the account information, including available credit and your good payment history to the credit bureaus on a regular basis.  This regular reporting is exactly what most people need to establish or re-establish credit – it just takes the time and effort to establish the account and use your credit card responsibly.

Here are the best secured credit cards for you to choose from: