If you're unsure of what secured credit card you want to apply for, browse our exclusive reviews listed below. Each review is filled with information detailing the credit card and also a honest opinion of what we think.
When applying for a secured credit card, it's always best to look and research at least three cards before hitting the apply button. What you're going to soon find out is that all of these cards are going to greatly vary, compared to the other cards on the market. Keep in mind that all cards aren't created equally. The last thing that you want to do is apply for a card and later find out that it was a card that you didn't want to apply for.
Does it have a major logo? The first thing that you're going to want to look out for is if it has a major logo. Does it have a major logo from issuers such as Visa or MasterCard? The reason that this is so important is because you'll find that most merchants accept these issuers. If your card doesn't have this logo, there may be a chance that the card doesn't accept it, putting you at a loss.
Does it report to the bureaus? Cards must report to the three major credit bureaus. You're going to soon find out that if the cards don't report, your credit score isn't going to go up. Most legitimate companies are going to note this on the application itself. If you're unsure if the card reports or not, you may want to call up the customer service hotline to see what they have to say. in terms of the reporting.
What are the fees? Secured credit cards are notrious for having fees, and that's okay. 99% of the cards on the market are going to have some sort of fees. The question here is, "What are the fees?" You don't want to apply for a card that has a high annual fee compared to the other cards on the market. Because of this, you're going to want to ensure that the fees are rather low compared to the rest on the market. Remember that you'll be able to upgrade to an unsecured card in the near future.
Can you get a second opinion? While we strive to do our best to supply you with decent reviews, you may want to look into other ventures as well. Many of the sites that you come across on the web are going to be biased because of commissions. As noted on our main site, we try to list all of the cards that are available on the web. Since many banks tend to stray away from bad credit applicants, you may notice that the pickings can be rather slim.
Read the fine print. Always make sure that you read through the fine print before applying. All of this information is going to be available to you when you're ready to apply. It's best to note what the side fees are as well as ensure that you know what you're getting yourself into. If you ever have any questions, always ask them before applying.