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Can I borrow more than my balance in secured bank credit cards?
Wiki User
∙ 14y ago
No your limit is set by the balance you have on deposit with secured bank credit cards. This type of card is designed to keep you from going over the limit and gettinmg fees.
Wiki User
∙ 14y ago
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Which credit cards are secured?
Secured credit cards require that you supply a cash deposit as collateral that becomes the actual line of credit. When first establishing credit or reestablishing credit secured credit cards are an excellent method to use and most banks will be able to provide information on the secured credit cards they offer.
What companies offer the best secured business credit cards?
According to the research there really are no secured business credit cards. But you can however apply for a secured credit card and then use it for your business.
How to rebuild credit after bankruptcy?
A great option to rebuild credit after bankrutpcy is getting a secured credit card. Secured credit cards can be used just like regular credit cards, the key difference is that they require an up front deposit to secure the credit limit. For example if you want a $500 credit limit, you will need to make a $500 deposit. For most secured cards there is no credit or bankruptcy check. You will receive a card as long as the issuer can verify your identity, residence and deposit. You will build positive credit as long as you make your monthly payments on time and keep your balance below your credit limit. Once you build positive credit histoty, you can then qualify for unsecured credit cards. You can close your secured credit card account at any time and receive a full refund of your original deposit amount (minus anything you owe). For more information secured credit cards check out http://www.yourcreditcardgps.com/best-secured-credit-cards.html
How do you get business credit cards with bad credit?
If you don't need to borrow money but need the credit card for buying things online you could get one of the prepay cards. You load money onto it and then you can use it like a credit card for purchasing. There are also secured credit card options for those who have credit issues
Do car rental agencies accept secured credit cards?
Yes, Car Rental Companies accept Secured Credit Cards. There are two types of cards. "Secured" and "Prepaid". Prepaid cards will be accepted at rental companies (or will be treated like a debit card). SECURE cards on the other hand are not like a credit card. The rental company has no way of knowing rather the card is secured or not.All secured cards say "debit", and have a Visa, Mastercard logo, etc. However, as with any credit card (secured or su-secured), they will take a deposit out on the card that covers the rental fee for your expected term. This will not be "charged", but "held" to your card until you return it, at such a time you can choose to authorize the payment to go through or pay the balance with a debit card, allowing the hold on the credit card to release.
What types of credit cards are secured?
There are many different types of credit cards that are secured. Any of the major brands will be secured. This includes Visa, American Express, Discover and Master Card.
What credit card can you get with no job or checking account?
None. Even secured cards require a specified balance in a checking account, before they are granted.
Where can one get a credit card for one with bad credit?
If you have bad credit, there are still ways to get a credit card. For those with bad credit, secured credit cards or subprime credit cards might be your only options for getting one. These cards can charge extra fees and may let loaners take your money if you do not pay off the balance.
Can I get a credit card for my bad credit?
If you need to get credit cards to help repair your credit, try secured credit cards. Many banks offer secured cards like Wells Fargo and Citi. You can also try store cards but be sure you pay them off each month.
What is the advantage of using secured credit cards?
When you use secured credit cards, you will be able to block it when it is stolen or lost. If you could not do this, it will affect you greatly, and your money will be gone.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
How can you get a credit card with poor or bad credit?
There are pre-paid cards and secured cards available for those with poor credit.
