I’m interested in a secured Credit card
anyone know if a secured credit card to build credit?
Hi Shifra, thank you for reaching out to us.
To answer your question, if a secured credit card can help establish credit, the answer is, yes absolutely. In fact the fundamental principle of a secured credit card is to establish / reestablish credit.
So assuming that the main reason you want a secured credit card is to establish credit, I recommend you to take the following steps.
First try to apply for this Credit One unsecured card that you might get approved for despite your credit score (this will not leave an inquiry in your credit report). The reason for that is the “way” that this card reports to the credit bureaus. Meaning, an unsecured credit card will report as unsecured and that is what a lender will see when they pull your credit report. Lenders will look at an unsecured card in a more positive manner then a secured card. However if you can’t get approved for this card (sometimes simply due to a limit in the number of applicants) but still want to reestablish your credit score, then by all means apply for a secured credit card. You can start with this Primor® Secured Visa Gold Card which reports to all major credit bureaus and have very reasonable APR (9.99% Fixed) just in case you end up carrying a balance. After you use your secured card (responsibly) for about a year or so, you can “graduate” from your secured card and apply for a better unsecured credit card.
I hope this will help you get on your way and please don’t hesitate to ask us more questions about this topic and other related topics, we love it, seriously.
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