6 Steps for Graduating From Secured to Unsecured Credit (Feb. 2024)
A secured credit card can be a terrific option when your credit rating isn’t high enough to qualify for a traditional unsecured credit card. To get a secured card, you put down a cash deposit that acts as collateral, and the issuer provides you with a credit line equal to -- or perhaps even greater than -- your deposit. This deposit is kept in a separate custodial account. All parties come out ahead with these tools. The issuer assumes little risk in lending you money because, if... read more »