Are you looking for secured credit cards? Not sure if you should open a secured or unsecured card? If you’re rebuilding your credit score, a secured credit card can help you get your credit back on track. An unsecured credit card requires you to have established credit and can often include travel rewards and cash back rewards.
Use these helpful tips to find the right credit card for your particular needs.
Secured Credit Cards
Secured credit cards are credit cards that require a deposit. When you receive the card, you link it to your bank account and pre-load it with money. You can then use the card.
Benefits of Secured Credit Cards
A secured credit card is great for people with little to no credit.
Secured credit card benefits include:
It will help you get used to paying a regular monthly payment.
As you pay on time each month, you can eventually transfer to an unsecured card.
The credit card issuer might increase your credit limit as you make consistent payments after a year.
The Best Secured Credit Cards
Looking for secured credit cards? Canada residents can take advantage of these great offers:
No Fee Home Trust Secured Visa Card: No annual fee, 19…