Credit Building Opportunities

 

Credit Cards:

Q: Who should consider a secured credit card?

A: Individuals who have a discharged bankruptcy or do not qualify for an unsecured offer, or only qualify for high interest, and high fee unsecured credit cards.

Current Secured Offers: About Secured Credit Cards:

How A Secured Credit Card Works

  • A Secure Credit Card will help you establish a credit history after a bankruptcy.
  • You deposit anywhere from a minimum of $200 up to $5,000 into an FDIC insured deposit account. The credit line will equal the amount of your deposit.
  • Pay at least the minimum payment before the due date each month. Paying off your credit card balance in full each month instead of carrying a balance may help. Your deposit does not cover your minimum payments. Many credit professionals recommend using up to 30% of your credit limit and paying the balance off in full each month.
Based on your credit and payment history with your secured card, you may qualify for an unsecured card at a later date. This means by securing new credit, and making your payments on time each month, you will earn the opportunity to qualify for other credit, such as an unsecured credit card.
Current Unsecured Offers: About Unsecured Credit Cards:


A regular credit card designed for individuals with less than perfect credit, often used as a good way to establish new credit after a bankruptcy. Unsecured credit cards require no security deposit.