Questions You Need to Consider Before Applying for a Secured Credit Card

Do you have plans to apply for a secured credit card? If you do then we encourage you to pay very close attention to the remainder of this short article. Below we have listed down four important questions that you need to ask before you sign up for any particular bad credit credit card program.

Four Important Questions
1.What are the fees and charges that will apply on my secured credit card? It is very important that you know all the charges and fees that will be imposed on the credit card for bad credit you intend to use. This way, you can assess whether you can afford the payment clauses stipulated on the bad credit-credit card you wish to apply for. Should you discover that your personal finances will enable you to keep up with your interest charges as well as with the transaction fees and finance charges imposed on your card, then you might as well pursue your application for the credit card for bad credit. Otherwise, you may need to search for other credit card programs that will be more suitable to your budget.

2.How much is the initial deposit? You also need to inquire about the deposit requirement of the secured credit card program you intend to apply for. In most cases card companies require their prospective cardholders to shell out as much as $300 for a bad credit credit card account. So you need to consider your personal finances and check if you can afford to pay the initial deposit requirement imposed on the credit card account you wish to use.

3.Does your company provide timely reports to the three credit reporting agencies? You should also be upfront in asking this question to a potential credit card issuer, especially if you intend to use a secured credit card to rebuild your credit profile. Always remember that even if you manage your credit payments responsibly, the failure of a credit institution to provide timely reports to the three credit bureaus will put all your efforts to restore your credit reputation in vain.

4.What are the benefits and perks I can enjoy from my credit card for bad credit? Many bad credit-credit card issuers today offer special incentives and rewards to their prospective cardholders. Such rewards come in the form of travel-related incentives, cash rebates, free souvenir or gift items, discount cards and other amazing perks . So, if you wish to earn these exciting benefits, then you might as well sign up for secured credit card programs which provide gift items and other freebies.

About the Author 

Tara Tiemann is a credit analyst for which has been a resource site for people who want to live debt free. If you are on a budget using prepaid debit cards,prepaid credit cards and prepaid cell phone service can save you big money!

About Liz Roberts

Liz Roberts is the new credit specialist for Go-Prepaid. If you are on a budget, we can get you discounted cell phone service from Sprint, Verizon and T-Mobile! NO CREDIT CHECK ! Using a prepaid services can save you a TON of money! Follow our blog to find out how!

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