Unlike regular credit cards, a secured credit card is a little different and when it comes down to applying for one, there are a few things that you should look out for before sending in all of your information via the internet or mail.  Since a lot of scammers tend to target bad credit type customers, it’s important that you look out for the following so that you don’t become a victim of secured credit card fraud.

Where can I get a secured card?
There are a few places you can get a secured credit card.  First off, we would like to say that you’re on the right website if you’re looking for a secured credit card.  All of the secured credit cards you find on findsecuredcards.com are one hundred percent legitimate and are issued by all major credit card companies such as VISA and Bank of America.  Please rests assure that all of the applications go to a secured web form, where all of your information is kept confidential.

Are there charges?
Most secured credit cards do have an annual fee.  It’s up you to review the terms and conditions when you apply for the credit card.  Generally, an annual fee can range anywhere from twenty dollars and above.

Do all major companies offer secured credit cards?
No.  The major companies like Visa and MasterCard do offer secured credit cards but you will find that your favorite bank such as Citi bank or Chase bank will not offer a secured credit.  Some banks just don’t want to take the risks that are involved with these types of cards.

Do they report to the credit bureaus?
Yes!  Most credit card companies will in fact report your credit to all of the bureaus.  If you want to make sure that the company reports to the bureaus, check out the terms and conditions associated with the card just so that you’re one hundred percent certain. You’ll know that the company is reporting to bureau because you’ll start to receive a lot of credit card junk mail.

How much will I have to deposit?
If you don’t know by now, a secured credit card generally requires a deposit.  The reason the credit card companies will ask for a deposit is because if you don’t pay your bill off on time, the banks will be able to take the money you deposited directly out of your account.  Most credit card companies will generally ask for $300 to $500 for a deposit.