Secured credit cards force you to make a deposit between $200 and $5,000 and this will be the only money you can use for the first few months. If you are a good payer, the bank will refund your money and the card will become an Unsecured credit card.
The biggest advantage of Secured Credit Cards is that they are easy to get, some banks have an approval rate of 87% and they help you increase your credit score.
Secured credit cards are designed for those people who do not have a credit score or have a score below 660.
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