Credit Cards With A Bad Credit Score—Can A Secured Credit Card Boost Your Credit Rating?

A secured credit card can be a valuable tool in helping anyone improve their credit score by allowing them to build a better credit history.  Building a better credit history is the only way to get a better credit score and one of the only ways to improve one’s credit history is to make credit purchases and pay them off.

Anyone with a bad credit score may find that credit card interest rates, for them, are at an unmanageable level and buying on those cards may cause more harm than good.  In this case a secured credit card may be beneficial as most secured cards are going to offer a competitive interest rate.

A secured credit card also shows that someone with bad credit is serious about getting their credit score back on track as this type of card requires a deposit into a bank account, which secures the card.  This means that if the cardholder doesn’t pay off their purchases they will not only lose money from the account, but they are also doing harm to their credit history and score.

There are a wide range of secured credit cards available so anyone looking to get a secured credit card needs to shop around and be sure they are not only getting the best value they can, but also that the lender from which they get the card is reputable.