The 9 Best Secured Credit Cards to Apply for in 2019

“Secured credit cards have a bad reputation, and most of these products deserve it. Too often, the companies that offer secured cards do so to prey on those with poor or little credit history by charging exorbitant interest rates and outrageous fees.”

Discover it Secured

Secured credit cards are a great option for those who have trouble getting approved for a credit card because of previous credit mistakes or lack of a credit history. A secured credit card is easier to be approved for because you make a security deposit to “secure” the credit limit. As long as you’re on time with payments, your security deposit will be refunded to you when you close your account.

The best secured credit cards offer a variety of benefits for cardholders from low-security deposits to rewards and even the ability to have a five-figure credit limit. When you’re choosing a secured credit card, make sure you pay attention to the pricing, particularly the annual fee since it’s unavoidable. Ideally, you’ll pay your balance in full to avoid interest charges but go for a lower interest rate if you think you’ll end up carrying a balance…

 

Read more: https://www.thebalance.com/best-secured-credit-cards-4158178

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