How are secured credit cards different than normal credit cards?

Secured Cards are backed by cash in a savings account. You can have a credit line equal to the money you have set aside in a savings account. This means that you are in charge of your limit.

Because a secured credit card uses your own money, your credit union has no worries of you not paying your card off. This is why a secured card is usually guaranteed to be approved.

A secured credit card is a great way to build or repair your credit.

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