If you have bad credit, you may want to use a secure credit card to help you improve your credit score. In addition, a secure credit card may be your only source of credit card. Some transactions require a credit card. This may include car rental or hotel reservation. If you need to do these types of transactions and can't get an unsecured credit card, this may be the only way for you to get a real credit card.

What to look for in a secure credit card:

Interest rate: Don't be fooled into thinking that because you don't have a credit history or a bad credit report, you must solve the high interest rate. Before applying for a secure credit card, be sure to shop around and find the lowest interest rate you are eligible for.

Fees: Pay close attention to any fees that you or your account will be charged once your account is opened. Some companies will charge very high fees and even reduce your initial deposit before you use the credit card. Stay away from those companies. Look for companies that don't have any fees, or those that charge a small fee to open an account at one time. The annual fee for attractive security cards is usually between $ 20-35.

Scam: Unfortunately, some companies specialize in blackmailing people. They take advantage of the weakness of those who may fall into the credit crisis. Some things they do include promising you a "quick loan". Another popular scam is to ask you to dial 900 phone numbers to get the "secret" of credit card or credit repair. Your telephone company will charge you a high fee for using the 900 number, and you will never get the information provided.

The best advice to avoid secure credit card fraud is that if it sounds too good to be true, it is true. Use your common sense and don't be cheated by these swindlers.