If you have bad credit, you know how difficult it can be to get a credit card issued in your name. Yet, in today’s world it is virtually impossible to live without one of these pieces of plastic. If you have been struggling to find a company that will accept your credit card application, why not consider a secured credit card? Secured cards can be obtained by nearly anyone, and they have the added benefit of helping you to rebuild and reestablish your good credit standing. They work exactly like a regular credit card too, so now you will not have to worry about situations where a credit card is necessary, such as buying airline tickets, renting a car, or booking a hotel.
With a secured credit card, you deposit money with the issuer and that becomes your line of credit. Another name for these types of cards is prepaid cards. In addition, as you continue to use the card responsibly you increase your credit score and will eventually be eligible for a traditional credit card.
Many companies offer these types of cards, but my favorite is the American Express secured credit card, known as the American Express Prepaid Card. This card from the premier credit card issuer American Express comes with a host of benefits, including:
– The benefit of American Express card prestige!
– No monthly fees, no annual fees and no purchase fees
– No overdraft fees, inactivity fees or foreign exchange fees
– No credit check required
– Start rebuilding your good credit
The American Express secured credit card is perfect for anyone who wants to rebuild credit and is able to make a cash deposit to fund their card. Whether your problems come from past payment issues or any other issue, the American Express secured credit card will help restore your credit as quickly as possible.
While rebuilding credit is one excellent reason to consider a secured credit card, there are other reasons too. For example, college students who have never had credit may want to use a secured credit card to begin building their credit. Fortunately, American Express has a card for that too! The PASS from American Express is designed specifically for parents to give to their college students or teens.
By giving teens and students a card like this, parents are helping to teach them about the responsibilities that come with credit card use, how to budget properly, and getting them off to a good start with their own credit score. Just like the American Express Prepaid Card, this card comes with no monthly, annual, purchase, overdraft, inactivity, or foreign exchange fees. There is no credit check required and the PASS from American Express helps youngsters begin building a credit report.
When you are looking for a secured credit card, you always need to be aware of the small print that dictates the fees and charges you will be responsible for paying. The American Express secured credit cards are superior to many other company cards because there are literally no fees. Even the application is free, which is in contrast to other card companies who will even charge a fee to apply for their secured cards.
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