NEWSLETTERS
A secured credit card is a type of credit card designed for individuals looking to build or rebuild their credit. Unlike traditional credit cards, secured cards require a refundable security deposit, which typically determines the credit limit. They function like regular credit cards, allowing users to make purchases, pay bills, and build a positive credit history with responsible use. Secured cards are often used by those with limited or poor credit, as they have more accessible approval requirements. Over time, consistent on-time payments can help improve credit scores, potentially qualifying the cardholder for an upgrade to an unsecured credit card with better terms.