When you are looking into getting a credit card there are two choices that you can make.  You should check out your credit score and what your needs are then determine which credit card is best for you.  The difference in your credit card choice can determine the rate of interest you pay and the amount of fees that you will be charged.  When you are credit card shopping selects a credit card based on the following:

• The annual fees charged by the credit card company.
• The interest rate that you will be paying no matter if it is secured or unsecured.
• Make sure that all other fees will be given to you at the time you open up the account.
• You need to make sure that the company will make a report to the credit agencies on your behalf in order to establish a good credit record or rebuild your credit record.

Secured Credit Card

When you select to receive a secured credit card it simply means that the card is backed by something to insure the lender that you will pay back the loan. In most cases you are required to deposit a certain amount of money in a bank account that you cannot touch until you have paid back what you are using from the credit card. Normally you will put a certain amount of cash in the bank account for the lender then when you spend part of the money you will need to pay back what you spent plus interest.  If you do not pay back your loan in time then the money is taken from your bank account which is why it is called a secured credit card.

Unsecured Credit Card

In order to get an unsecured credit card your credit score must be high enough that your lender will issue you a line of credit without you having to make a deposit of money to cover your expenditures. The lender determines how much credit they are willing to give you based on your credit score and employment history. The amount of money you earn determines how much money they are willing to let you borrow. You still need to pay interest, account fees and a yearly membership fee. Your credit history is normally reported to the credit agencies.  This is very helpful to you in building your credit score for future credit.