How To Find a Secured Credit Card

Getting a secured credit card is a great step if you want to build or even rebuild your credit. Put simply, this is how a secured credit card works: you make a deposit to the lender and are then able to make purchases up to that amount of money. If you find a reputable lender that reports to the three credit agencies, you will likely earn the opportunity to get an unsecured credit card in the next year or two, assuming that you make payments on your secured card on a regular basis.

Instructions

1

Visit Bankrate.com and select the "Credit Cards" tab at the top of the page. Bankrate is a well respected and established website that offers rates, guidance, and other useful financial information.

2

Choose "Select by Credit Card Type" in the "Compare Credit Card Rates" menu. To continue, select the search button.

3

Select "Secured Cards" from the card type menu on the right. This will generate a list of all secured credit card offers that they recommend.

4

Read and review the offers from the different lenders. Take note of the APR percentage, the annual fees (if any), credit limits, and any other information that is important to your decision. It's generally best to get a no annual fee card.

5

Choose the "Apply Now" button on the secured card you would like. Fill out the application information and anything else that is requested by the lender. Submit your application and you should hear back from the lender and obtain a new secured credit card shortly.