Are secured credit cards considered credit cards?

0 votes
asked Dec 27, 2017 in Other-Finance by Oikoo (260 points)
Are secured credit cards considered actual credit cards?

1 Answer

0 votes
answered Dec 27, 2017 by Judy (28,860 points)
A secured credit card is a real credit card. The only difference between a secured credit card and a regular credit card is that with a secured credit card you put a deposit as security for the credit card and you pay your monthly credit card bills when you use your credit card.

Using a secured card will help boost a persons credit rating or improve a persons credit rating since a secured credit card is easy to get credit card for people with bad credit and the secured credit card if you use it properly and pay your balance, then the secured credit card will help improve your credit score.

7,838 questions

8,146 answers


166,680 users