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Secured Credit Cards
The following credit card offers are for Secured Credit Cards. A secured card requires you to open and maintain a savings account as security for your line of credit; an unsecured card does not. The required savings deposit for a secured card may range from a few hundred to several thousand dollars. Your credit line is a percentage of your deposit, typically 50 to 100 percent. Usually, a bank will pay interest on your deposit. In addition, you also may have to pay application and processing fees - sometimes totaling hundreds of dollars. Before you apply, be sure to ask what the total fees are and whether they will be refunded if you‘re denied a card. Typically, a secured card requires an annual fee and has a higher interest rate than an unsecured card. If your only option is a secured credit card, we suggest you try the two secured credit cards listed below. Both of these companies are very reputable.
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