answersLogoWhite

0

Yes, secured credit cards typically have interest rates that apply to any outstanding balance carried over from month to month.

User Avatar

AnswerBot

5mo ago

What else can I help you with?

Related Questions

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.


Are there credit cards for people with bad credit?

Credit cards for people with bad credit are secured cards issued by banks. It is also possible to get unsecured cards with low interest rate or zero APR for the first six months. Negotiations can be done with the bank that issued your credit card.


What are the differences between secured and prepaid credit cards?

Secured credit cards require a security deposit to establish a credit limit, while prepaid credit cards require you to load money onto the card before using it. Secured cards help build credit, while prepaid cards do not impact your credit score.


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.


If you just filed for bankruptcy and you need a credit card where can you go?

Try your bank to see if they offer a secured credit card. Bank of America offers a secured Visa and the credit line is equal to your deposit amount. Beware of secured cards with high interest rates and fees!


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 are the interest rates on the Orchard bank credit cards?

Orchard bank has different ways in which they issue credit cards. The cards are either secured or unsecured. A secured card has rates as low as 7.90% because the borrower is required to put a deposit down up front before being granted the card. The unsecured cards range from 14.9% to 19.9% depending on one's credit score.


What are the benefits of a share secured credit card?

A share secured credit card can help you build or improve your credit score by using funds in a savings account as collateral. It can also offer lower interest rates and higher credit limits compared to other types of credit cards.


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 are the three types of credit cards available in the market today?

The three types of credit cards available in the market today are secured credit cards, unsecured credit cards, and prepaid credit cards.


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 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.