Do secured cards require a security deposit?
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sandy
Apprentice
Joined: 03 Sep 2004
Posts: 4
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 Posted: 06/18/08 - 07:55 Post subject: |
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| Good morning people. My name is Donna and I was wondering if you could give me some help about credit cards. I am interested in so-called secured cards. Do secured cards require a security deposit? And if they do, how much that deposit has to be? Thank you for your posts. |
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art
Apprentice
Joined: 10 Jan 2005
Posts: 2
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| Posted: 07/18/08 - 03:18 Post subject: |
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| Hello to you too, Donna. Well, I’ll be glad to give you information about this subject. All secured credit cards require from you to give some security deposits. That’s why they are called secured credit cards. That deposit is usually from 50 to even 100% of what you can spend. For example, if you give a 1000 dollars deposit, you can spend from 500 to 1000 dollars on your credit card. Everything else is pretty much the same. As a holder of secured credit card, you still have to make monthly payments even though there is that deposit. Basically, that is all. If you have some other questions regarding this, feel free to ask. Bye! |
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