Do secured credit card companies accept everyone who applies?
Some will, and some won’t. In general, card companies are more lenient about issuing secured cards because applicants must deposit money in a savings account to guarantee the charges. Some issuers guarantee that anyone with the money to deposit will receive a card – without checking your credit report. Other issuers require that you fill out a lengthy application, be able to meet minimum income requirements and pass a credit review. Deceptive Ads and Scams The ads may offer unsecured credit cards, secured credit cards, or not specify a card type. The ads usually lead you to believe you can get a card simply by calling the number listed. Sometimes the number is not toll-free. A ‘900’ number service, for which you are billed just for making the call, may instruct you to give your name and address to receive a credit application, or give you a list of banks offering secured cards. It also may tell you to call another ‘900’ number — at an additional charge — for more information. Decepti
