Is the economy turning around? Is the credit crunch over?
Last December we saw at least 40 credit cards stop accepting applications. After a 4 month dry spell we are starting to see new credit cards out on the market. The first new credit card that I’ve seen since Dec 08 is the Public Savings Bank Classic Secured Visa® Credit Card.
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This secured credit card has a few really great features that include:
- Public Savings Bank’s Classic Secured Visa® Credit Card helps build your credit history at
all the major credit bureaus – with no annual fee or monthly maintenance fees. - Choose your initial credit limit from $300-$2000
- Four ways to fund your security deposit
- Lifetime credit lines up to $5,000
- 25 day grace period
- Free fraud protection against unauthorized use
- No penalty APR
- Use the card everywhere you see the Visa® logo
Secured credit cards are a great way to build or rebuild credit and this one has it all! Low interest rate, low minimum deposit, reports to all 3 major credit bureaus and most importantly in my mind is that you can have a truly large credit limit with this card. Why is that such a key feature? Banks are looking for comparable credit. Most bad credit or first credit unsecured credit cards have very low limits and when you walk into a bank and ask them for a large loan, they will look at your comparable credit. With this card you can create your own comparable credit tradeline!
About the Author
Tara Tiemann is a credit analyst for Go-prepaid.com which has been a resource site for people who want to live debt free. If you are on a budget using prepaid debit cards, pre paid credit cards and prepaid cell phone service can save you big money!
