Secured Credit Cards Review
To start i am now aware that there are thousands of people who are not aware that secured credit cards and pre paid credit cards are not the same thing. So first i would like to briefly explain the Main difference between the two without going into specific detail. The main difference is Pre Paid credit cards DO NOT report to any Major credit bureaus or I should say they do not report to any of the big three credit bureaus.
Pre paid credit cards like Account Now are making people feel as though a pre paid card will improve their credit with major credit bureaus when this is far from the case Account Now only reports to the PRBC (Payment Reporting Builds Credit) which is a national credit bureau that captures consumers’ history of paying rent, utility, and other recurring bills that aren’t reported to traditional bureaus. So if any Pre paid Credit card company is making themselves seem like they will help your credit remember the reporting agnecy they are reporting to is NOT a major credit reporting agency.
Secured Credit Cards Reviews
The most notable secure credit card company is capital one who have both secured visa and master credit cards The downside with capital one that most people find is capital one is constantly trying to sell you something or give you upgrades that probably don’t need or probably not interested in. Another ok lender is First PREMIER Bank secure credit card which is not to bad but doesnt have nearlyy the amount of useful features that the Public Savings Bank Classic Visa Card has.
0% APR is not a common feature you will see in a secure credit card. Capital One has a simular feature but it gets eaten away in fees for you to activate your card the Public Savings Bank Classic Visa Card has this and a host of other features these features include.
First it’s important to note that the Public Savings Bank Classic Visa Card REPORT’s TO ALL 3 MAJOR CREDIT BUREAUS! There are allot of Secure Credit cards that DO NOT report to major credit bureau’s and before signing up with any it’s important you check this out if you ever plan on purchasing a home
Details of Public Savings Bank Classic Visa Card that I think you should take a note of are:
• 3-bureau credit reporting
• 0% APR for 6 months
• No annual or monthly fees
• Low $200 minimum deposit
• No credit check or credit inquiry
• No income or employment verification
• 25 day grace period
No credit check and No Income or employment inquiry are key features you should take note of because in reality if used correctly this card can put a Pay as you go credit card into early retirement.
People who i feel should consider this Secured credit card are the following people with:
• BAD CREDIT
• NO CREDIT
• DAMAGED or THIN CREDIT
• Students & immigrants
• People who need credit tradelines
• People looking to buy a home or car
• People looking to rent an apartment
• People who need a credit card for travel, hotel or car reservations
Public Savings Bank Classic Visa is an FDIC insured bank located outside Philadelphia. they operate with normal business hours and incase of emergency they also have
• Free 24-hour online account access and bill payment
• Benefits include travel and car rental insurance
• Zero liability for fraud
• Free emergency card replacement
When measuring specific details there is no secured credit card that even compares to the Public Savings Bank Classic Visa Card
if you are looking to build, re-build, establish or re-establish your credit you should apply it makes allot more sense then wasting money on a pre paid credit card or a pay day loan that isn’t going to help you get credit on larger items thank you for reading my post.