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Poor credit score or lack of credit history, both of them can keep you from getting good loans and credit card opportunities. Credit score is the three digit number allotted to every single adult who has taken loan, credit card or such other debt via plastic money or via lending money from someone. If the he has returned the amount of debt on time with the due interest applicable on the debt amount then he will be awarded with excellent scores. If in case of poor financial condition or due to too much debt, the debt amount is not paid off on time then the credit bureaus will deduct the scores. The score will keep on lowering with every late payment and mismanagement of the debts. Only a bad credit secured credit card can help you to improve the credit score. A secured credit card is the plastic money which runs on the money deposited in a bank or the financial company as collateral or security deposit. Here the amount of the security deposit will also serve as your credit limit, which cannot be exceeded like in the traditional credit cards. They have low rate of interest on them therefore the user of the card can easily utilize the money without worrying about the debt troubles. If you are thinking that it is just like the prepaid cards, then it is not. In prepaid cards you can utilize the amount deposited in the bank without being charged with interest rate or annual fee. Moreover the prepaid cards do not have any impact on the credit score of the user. But the US bank secured credit cards carry charges and also have impact on the credit score of the user. If you are thinking about how to build credit with a secured credit card, then it is very simple, the user just has to use the card wisely. Secured credit card can have the maximum credit limit of either 2000 dollars or 5000 dollars, therefore spending more than that is impossible, keeping redundant charges at bay. Apart from this the interest rate on the amount given as debt is low; therefore you can pay off the debt conveniently. Apply for the orchard secured credit card now by filling up a simple application form and paying the security amount according to your desired credit limit. For More Information Check Out Here:-bank secured credit card, secured credit card review Resource:-guaranteed secured credit card
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