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February 13,2009

  • Secure Your Credit Future w/Secured Cards, Pt.3
      What to look for.


    Watch, with Interest: You can find decent secured credit cards rates by shopping around. Right now a 10%APR looks good. Staying below 15% shouldn't be too hard. Of course, it's always good to pay your credit card balance in full every statement so it doesn't effect you but, why take on added risk with high interest when you can do better? You can always visit or just go to our home page and bathe in good secured credit card offers.

    Introductory Rates: Sorry, but the pickings are slim here. About the only thing that comes to mind with secured credit card is an offer by Well Fargo that only applies to those who open a banking account with them. Still, it's worth looking around because new offers are coming out all the time. You may be able to find a secured credit card offer with an APR as low as 5.9%. Good luck.

    Always Read the fine print: This goes without saying but, there are always a few who just hope for the best. This wishful thinking often leads to disappointment, however. Watch out for the the snares. What are the grace periods? Some times a lender puts you on a short leash and then moves your due date up so that, by the time you get a credit card statement, you payment is either already late or else it can't be delivered and processed in time. There are stories upon stories of this happening to responsible people every day.

    Interest on your Deposit: For what it's worth, many secured credit card lenders will offer to pay interest on your money that their holding in deposit. Maybe only one or two percent but, at least it feels a little better when you see a little money coming in each month.

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