Secure Credit Cards?

Question

I am trying to repair my credit and I need to get a secure credit card. What is the best secure credit card taht you can get?

Answer 1

Good advice someone gave you about getting the secured card. The credit bureaus do not penalize you for the fact that it is secured. It is just as good as if you got an unsecured card as far as your credit score is concerned. Either will boost your credit about 30 points.

Answer 2

Just shop around...if you have a checking or savings account with a local bank, start there. They might have a secured cc available. If you don't have accounts, start locally. That way, your secured funds will be in a place that is close and you don't have to deal with people who are far away - calling an 800 number and speaking to different people every time is not fun if you have a major issue to be resolved. It is much better to be able to see someone in person. :-)
All secured credit cards basically work in the same way. You deposit the money and you have a credit limit of that amount. It is accepted like a normal credit card at retailers and you receive a bill in the mail just like a normal credit card. Make sure you get one that does not have annual fees and maintenance fees. Those can add up. Other than that, just make sure that you are getting a good interest rate and shop for it as you would shop for a normal cc.
Good luck!