Whats the difference between secure & unsecure credit cards?
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First let's look at the secured credit card for bad credit. A secured credit card requires that you deposit money with the issuing bank, and the bank will issue a credit card in the same amount for your use. Secured cards are guaranteed to be approved, because the bank has your deposit money in case you do not pay your balance. A secured credit card for bad credit operates much like a regular credit card. You receive a monthly statement, and you pay your minimum monthly payment or the balance in full each month. You are charged an interest rate, annual fee and possibly other fees for a secured credit card account.
A second option for getting a credit card for bad credit is to get an unsecured credit card. Unsecured credit cards are available for bad credit clients, however, the issuing banks charge high fees to cover the risk of extending credit to a bad credit client. You can expect to pay anywhere from $200-$350 or more in fees which the bank will keep, you do not get that money back. Those fees are upfront costs for obtaining a unsecured credit card for bad credit. In some cases, the bank will allow you to pay the fees over two or more months. apply online for a credit card at: http://www.credit-card-gallery.com/
Whats the difference between secure & unsecure credit cards?You pre deposit for a secured card
Whats the difference between secure & unsecure credit cards?You deposit the money to use on the secure card, the unsecure card is a loan.
Whats the difference between secure & unsecure credit cards?Secure means you have to have the money in the bank to cover the card, no money, no card. Unsecured means you have a preset spending limit that you can use for purchases. You don't have to have money in the bank for an unsecured card.
Whats the difference between secure & unsecure credit cards?A secured card is one you must put a deposit down on. A unsecured card is a credit line with no deposit.
Whats the difference between secure & unsecure credit cards?Unsecured cards give you a credit line-secured cards require you to put your own money down.
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