When in debt, most people will do just about anything when it comes to re-building credit.  Sometimes, being desperate can lead to scams which will just put you in a bigger hole.  Even though these scams can be avoided, many consumers just take the “I need something” now approach and don’t do research before they apply.  Secured credit cards are a great way to rebuild credit but only if you apply for the right one.

No matter what market you’re in, there’s always going to be a scam.  Scammers are in it for a reason, to get a quick buck.  When it comes down to applying for a secured credit card, there are some things that you should look out for before submitting  that application:

The easy application.  If the company says you’re going to get approved right away, it’s already sounding fishy.  Any major secured credit card company is going to make you wait while you go through their credit approval process.  If they guarantee instant approval, stay away!

“900″ numbers.  Anytime you see an ad to rebuild your credit with a credit card, make sure that you pay attention to the phone number.  If you find that the phone number is a “900″ number or it just seems foreign, avoid this.  If you call one of these numbers, you’ll see unwanted charges on your phone bill.

No major logo.  If you’re going to apply for a secured credit card, make sure you apply for a card with the major Visa or MasterCard logo.  This way, when you get your card, it’s going to be accepted at most retailers.  If you get a card with no credibility, you’re just wasting your time.

Bad reputation.  After all of this, you may find a compnay that you don’t know what to think about.  If you find yourself thinking that the company is legit, check with the BBB to see if they truly are a good company.  Visiting websites and the BBB will be a great way to see if a company have a good reputation.

Scammers are everywhere and if you follow these points, it should help you avoid the scams that are on the market.  You’ll find ads from these type of people everywhere.  From newspapers to the radio, you never know what you’re dealing with.  Just because they are advertising on a major platform, it doesn’t mean they are legit.  As long as you do your research, you’ll be fine.