Getting a secured credit card is a great way to improve your credit score. Unlike prepaid cards, secured credit cards report your “available credit” and payment activity to the three major credit cards, and these two factors comprise nearly 60% of your credit score. Of course, even secured credit cards have different benefits, different interest rates, etc., so compare more than one secured credit card before choosing one.
Once you’ve made your selection, you’ll need to fund the required security deposit to activate the card, and then use the card responsibly. Maintain a 30% of less balance relative to your total credit limit and make your payments on time, every time, and your credit report will begin to reflect your responsible usage.
Check out these secured credit cards –