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May 17, 2001
By
Arlene Martell
Website:
http://www.1st-choice-credit-cards.com
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Secured credit card choices for high risk customers
A secured credit card simply means that a security deposit account is set up and used to secure your credit card. It acts much the same way as a debit card in that the amount is guaranteed. You can only purchase the amount equal to what is in your deposit account. The amount in your deposit account will determine your credit limit. For people with bad credit, it is best to look for a guaranteed offer for high risk customers.
Usually the financial establishment wants a minimum of $200.00 to secure a credit card. Credit limits can go up to $5000.00 and annual reviews are available, as credit needs change. This is the choice secured credit card for people with bad credit The account allows you to re-build your credit history and at the same time allow you to enjoy all the benefits of a credit card. You will be able to use the credit card to make online purchases, ticket reservations, car and hotel rentals and current identification.
A secured credit card offer is much like a debit card but allows you to establish credit. The security deposit account is used to secure your student credit card. Here is a sample of what a typical secured credit card will entail. The initial credit limit is equal to your security deposit account with a balance of $200.00 to $5,000.00. The annual fee is around $69.00 and a late fee of $25.00 applies to late payments. A fee of $25.00 is charged if your credit limit is exceeded. Other fees may apply. There are many companies who offer secured credit cards such as american express, visa, master card or an online service or bank.
For
more information on secured credit card - click here!
> About The Author:Arlene Martell is a successful author and the
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