5 Reasons To Consider A Secured Credit Card | Refresh Financial
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5 Reasons To Consider A Secured Credit Card

 Consider A Secured Credit Card

A secured credit card requires you to put money down before you can use it, so why would anyone choose this option for a traditional credit card? Usually, it's their only option. Because secured credit cards are easier to get approved for, they are an opportunity for many people. Secured credit cards can help serve many purposes, here are five reasons to consider them.

1. You have declared bankruptcy in the past six years

If you've had to declare bankruptcy in the last six years, you know very well what the implications of that are on your credit report. It's going to be hard for you to get any sort of credit extended to you during the six years the bankruptcy is on your credit report. As such, it's difficult to start rebuilding your credit until the bankruptcy is gone. Unless, of course, you grab yourself a secured credit card. More people are accepted for secured credit cards than regular cards, making it the perfect option for those recovering from bankruptcy to build up their credit again.

2. You're ready to improve your credit

Building your credit is always a good idea, especially if you're looking to borrow. A great credit score will save you a ton of interest, and a secured credit card is a great tool to help you rebuild! Whatever the reason, using a secured credit card to boost your score is a perfect solution.

3. You have no credit history

Believe it or not, this isn't just a problem that young people experience, there are all sorts of people who don't have a credit history. As people get educated about how credit works, they realize they need credit to participate in many aspects of life. There is a need to start developing their credit history, and a secured credit card for this purpose is effective.

4. You've struggled with debt in your past

If you've struggled with debt in your past, you likely have a less than great credit score. This severely limits the credit you are eligible for, making rebuilding your credit very difficult. Secured credit cards come with a reduced risk to the lender, so people who don't have good credit are eligible to be cardholders. It may be your only option in this situation, but it's a great option that actually works in restoring your credit.

5. You want to work your way to an unsecured card

Being declined to borrow money can be discouraging, we get it. That's why we recommend getting back on track as soon as possible. A secured card is easier to be approved for, plus they report to the credit bureau just like a tradition credit card does!

If you're interested in getting yourself a secured credit card for any of these reasons, click here. Refresh Financial offers a secured credit card to help you get your credit score back on track. The best part? Everyone is approved! Grab yours now!

Would you consider getting a secured credit card to improve your credit score? Why or why not? Let us know in the comments!

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Six months ago I came with a credit score of ZERO. I was assured Refresh would help my credit and was asked to come back in six months to check again. I was blown away when I found out I had good credit. It was beyond my expectations and I qualified for a loan. I was very impressed with the professional and genuine helpful service I received. I’ve since and will continue to recommend Refresh to friends, family, and people at work with confidence that they too will be satisfied. Thanks everyone! “

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