What Do You Know about Secured Credit Cards? (cont.)
Contributed by Stephanie Litaker
I want a secured credit card, how do I get one?
When you think you are ready to apply for, and be responsible with, a secured credit card, there are many many options to choose from. You will probably receive an application in the mail for a secured credit card from several different companies, but you should only accept one card. If you have more than one credit card, you may quickly find yourself in credit card trouble - a place you should never be. If you have not received any offers in the mail for a credit card, you can always use a search engine on the Internet to find a company that offers secured credit cards.
The requirements for a secured credit card are often less strict than those associated with an unsecured credit card. For instance, even if you don't have an already established credit history, or if the one you do have isn't exactly perfect, you will probably still qualify for a secured credit card. Usually the guidelines to receive a secured credit card include legal age, reside in the United States, must have a telephone in your home, and you must have a valid social security number.
If you decide you would like you credit limit increased, most companies that offer secured credit cards will allow you to simply deposit more money into your "savings account," which will increase the amount of "back-up" money the company has.
