Since the credit card market is slowly becoming more saturated these days, you might be seeking insights on how to pick the best one. Top secured credit cards within the market will be discussed to help you deciding which one that will aid you the most. Each card has its different highlights. While one feature may be a favorite in certain circles, it may not be the case with other people.
Picking Top Secured Credit Cards
As stated before, every card has its own features. One feature is probably more important to you than the others. Top secured credit cards have these concentrated features on them. Some has low minimum security deposit. Initial deposit often becomes a big scare for card holder because the amount can be very high. Another feature that is attractive for card holder is high credit limit.
When you are looking at top secured credit cards, there are some things that you need to think carefully. Finding card issuer that constantly reports borrowers’ credit activities to big credit bureaus is really important. It is done to maintain updated credit score. Next thing to do is checking the compatibility of credit card qualification to your financial condition.
Calculating the interest is crucial. Many card companies advertise credit card with low deposit, rewards, and zero fees but it then turns out that they charge high interest rates. Although it is sometimes overlooked, rewards offered by card issuers are also nice trinkets. Here are several top secured credit cards that you can choose from.
- Secured Credit Card from Primor
Those who are qualified for this card are people with bad and poor credit rating. The credit limit for this card can reach up to $5,000. Meanwhile, its minimum line is at $200. There is $39 annual fee that card holder must pay.
- Secured Credit Card from Discover it
It is one of the top secured credit cards that offers cash back for many kinds of transactions. In addition, card holder is not charged for making overseas transaction. It accepts credit card applicants who have bad credit history with scores below 549. However, the APR of this credit card is quiet high, reaching 24.49%.
- Secured Credit Card from First National Bank
If you consider your card as a means to upgrade to unsecured card, this one will work fineAlongside billing statement; you will receive update on your FICO score every month. Minimum security deposit to be posted is $300. APR of this card is 18.99%.
- Secured Credit Card from Capital One
Among top secured credit cards, this card certainly has lowest security deposit. By paying $49, you can get a credit card with $200 credit line. The amount of deposit is also decided by one’s credit rating. Credit line can be increased when borrower pays their balance on-time every month. The APR of this credit card is 24.99%.
Hopefully this list of top secured credit cards is going to assist you in picking the best card for your situation. Prepare well to optimize its result!