Secured Cards

A secured credit card is a credit card that requires you to pay a security deposit, in order to obtain an open line of credit. The amount of the deposit you pay becomes your credit limit. A secured card is a great way to establish and increase your credit score. 


5 reasons To Get A Secured Card

  1. If you can't get approved for a traditional credit card.
  2. Your on time payments will report to all three credit bureaus 
  3. Good payments could help you get approved for traditional credit cards.
  4. Your deposit is refundable, as long as you do not default on your payments
  5. Credit score improvements as your payments are made on time.


How To Manage Your Secured Cards 

  1. Pay your secured card on time each month
  2. Do not use more than 10% of your credit limit
  3. The statement date of your monthly credit statement is the date the credit card company reports to the credit bureau.


3 Secured Cards I Recommend

Open Sky

Credit Builder Card

Platinum Elite