Tag Archive | “line of credit”

Should I Choose a Secured Credit Card or an Unsecured Credit Card?

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Whether you believe it or not, but I must tell you that there are a variety of credit cards and alternatives to the traditional credit card that we mostly use. Here I have explained you few forms of secured credit cards. It is better that you understand these options and choose any appropriate secured credit card for your particular needs.

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If everything else is equal, I suggest you that you should always choose an unsecured card rather than a secured card. On secured cards interest rates are almost always as high as the interest rates of unsecured credit cards. There is no reason to choose the secured option over an unsecured credit card.

4 Secured Credit Cards to Watch out for

Here I have mentioned few secured credit cards which you should avoid choosing for your financial needs:

Credit Cards Secured By Your Purchases

Retails stores also issue few credit cards. For instance, Sears card, take collateral in the items that is purchased by you using the Sears credit card. What it means is that if you are unable to make your credit card payments, then the lenders might decide to repossess the property that has been bought by you using that card.

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June 2011
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