Last Post On : July 28th, 2013 - Sunday
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Chase Secured Credit Card – Build Your Credit

If you are one of the millions of people in the country suffering from bad credit and facing troubles obtaining a credit card, you might want to consider a Chase secured credit card. Such cards are ideal for individuals who are looking to repair their credit. The best thing about the cards is that they can help restore your credit rating and get your financial life in order.

There are a number of secured cards by Chase and each differs from the other in terms of application, process and fees. The application fees can range from anywhere between $10 to $50 and annual fees can go up to $300. Most of the cards come with 0% APR in the first year. Some of the other benefits of the card include a low interest rate and worldwide acceptance.

Few popular Chase credit cards:

Chase platinum card- This is one of the most sought after Chase credit cards in the market. It provides 0% APR on purchases as well as balance transfers for the initial 12 months. Applicants with poor credit history are generally charged a higher rate of interest and also the 12-month offer is brought down to 6 or 3 months. For low rates, the card issuer requires an individual to have good credit. However, travel discounts and gift certificates are offered to anyone who can gather the required points.

Chase travel platinum card – This is another of the leading secured cards. The card holder earns a travel mile for every dollar that is spent on the card. It is thus ideal for people who travel frequently. Around 250 airlines as well as a number of hotels, car rental companies and cruise companies are a part of the scheme. This card too offers an introductory offer of 0% APR on purchases.

Platinum flexible rewards card – The card offers 1000 points on the very first purchase that is made. There are also the other benefits such as 0% APR for the initial 12 months and no annual fees.

A Chase secured credit card works closely with your personal savings or checking account. Your bank account will be used as the collateral and in case you fail to make a payment on time, the minimum amount will be directly deducted from your bank account. With these kinds of credit cards, debt is something that you would never have to worry about. The only credit line that is available to you is what you have in your bank account. This helps you to improve your credit worthiness as you pay your bills on time and use the card responsibly.

There are some disadvantages to using these cards. For example, you would have to face high rates of interest as well as late fees in case you do not make payments on time. These fees can keep increasing until you are broke. It is therefore important to keep all your bills paid on time. Having said that, a Chase secured credit card does offer an excellent option to anyone looking to build his or her credit. These cards present the first step towards financial freedom and building a good credit.

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