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Added December 20, 2010 from: Beverly Blair Harzog
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Answered By Beverly Blair Harzog:
The way your question is worded, it sounds as if you think secured cards are hard to find. No need to worry because many banks still offer them. In fact, secured credit cards have been a lifeline for those whose credit score got trashed during the recession.

If you're looking for a secured card, try your local bank where you have a checking account. If they have a secured card, it's possible they offer their customers good terms. But if you're looking in the open market, Capital One is a bank that offers a secured credit card. The Capital One Secured MasterCard reports to the major credit bureaus. This card has a $29 annual fee and a variable APR of 22.9 percent for purchases. That APR is a little high so you don't want to carry a balance.

Of course, your goal with a secured card is to rebuild your credit. Pay your credit card bill in full and on time. With persistence and patience, your credit score should climb and you'll qualify for an unsecured card.

This question is about:  Secured Credit Cards
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