What’s a secured credit card and how does it help my credit score?

A secured card is an actual credit card, unlike a debit card or prepaid card. It’s designed for someone who’s seeking to build or rebuild credit. This can include somebody who has bad credit or no credit history at all.

Unlike a debit card or prepaid card, the issuer of a secured card may share your activity, such as your monthly payment history, with the major credit bureaus — Experian, Equifax® and TransUnion®. This can help you build a credit history, improve your credit health and eventually upgrade to an unsecured no-deposit card.

As the name implies, a secured credit card is secured by money that you deposit with the issuer. An unsecured card requires no cash deposit.

We work hard and strive to deliver great results with our clients’ credit and debt goals always in mind. That is what makes us your ONE stop shop for all your credit and debt needs. Call us at 844-FIX-URCR or visit us at 6416 Gateway E.

*Individual results may vary. Please call for more details and to discuss your own individual situation.

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