Secured Credit Card
A secured credit card is exactly the same thing as a prepaid credit card, and whereas usually when someone uses the word ‘secured’ in lending circles they mean secured on your house or home, in this case it simply means that you have to put money in the card account before you can use it. To keep using the card you will, of course, have to keep topping up the account before your money runs out.
A secured credit card is generally used by people who have been refused credit or people who do not want to run up credit card debts.
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