What is a Secured card?
A Secured card means that a security deposit account is needed to secure your credit card. The security deposit amount will equal your credit limit. There is nothing on the card that indicates it is a secured card, it can be used exactly the same as an unsecured card. A secured card offers all the convenience of an unsecured major credit card. Using the credit card does not access your deposit, thus the money remains untouched in the security deposit as long as your secured credit card account is open. A secured card can be one of the best tools for starting or rebuilding a favorable credit history.
