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Learn How to Find the Perfect Secured Card

Sep 17, 2008
If you're like the thousands of Americans that are in debt, you may find it hard to find the perfect way to start rebuilding your credit. From books or programs that end up being a scam, I can see why most people tend to give up and just settle with bad debt. If you haven't figured out a perfect way to rebuild your credit, you may want to look into a secured credit card.

A secured credit card is a great way to rebuild your credit. The card works in a simple way. You'll simply give the credit card companies a deposit and this will be your credit limit. The reason you'll give the credit card companies a deposit is because if you don't pay your bills off in time, they can simply dip into your account. This is why it's important to pay your bill off in full so that you can show the companies that you're a responsible card carrier once again. Below are some tips you can take in order to find the perfect credit card.

See if they report - The first thing you want to look at before you apply for a secured credit card is if they report to the major credit bureaus. If they don't report to the bureaus, this will defeat the purpose of applying for the card. You'll want a card that reports so that you can rebuild your credit. If it doesn't report, it will be pointless.

Look at the limit - Depending on how much money you have, you're going to want to see how much money you're going to need in order to open the card. Some cards you only need a hundred dollars or so but others will require that you put in a substantial amount. Get a card that you can afford.
Get a name brand card - One of the main things you look at when you're looking for a card is if it carries a major logo such as Visa. If it doesn't, you may find yourself going into a store and not being able to use it because it's not carrying a major logo. Some card companies out there are scams and have no purpose but to steal your money.

Do your researches - When you think you've found the perfect card, make sure you do all the research for the card online. You'll usually get a good idea if the card is legit or it's a scam. If it looks like a good card, apply for it. If it doesn't look like it, I would steer clear of it. Simple ways to find a review is to Google the card name and follow it with "review".

Rebuilding your credit will take a while and remember it's going to take a little dedication to pay off your bills. Applying for a credit card won't cure all of your bad credit woes. As long as you attack your debt and use your credit card wisely, you should have no problem re-establishing your debt.
About the Author
Find the best secured credit cards and more of Tom's work at FINDsecuredcards.
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