1 / 6

Things to know about secured cards

Select from a wide range of Credit Cards offered by IDBI Bank: ✓Lifestyle ✓Travel ✓Fuel ✓Shopping with attractive features and rewards.<br>http://www.idbi.com/Credit-Card.asp

TomCraig
Download Presentation

Things to know about secured cards

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Credit Card

  2. Things to know about secured cards

  3. A secured card operates much like a regular credit card, except the cardholder makes a security deposit to open the account. • Often equal to the credit line, that money assures the card issuer that a borrower won't rack up a bill and walk away. • But there are plenty of myths and misconceptions about secured cards, too. • If you're considering one, here are nine things you should know.

  4. 1. Getting a secured card isn't a slam-dunk. • You "secure" these cards with a deposit that's often equal to the credit line. • Essentially, you're giving the lender -- in advance -- the money that you could walk away owing them. So you might think anyone could get one. Not so. • Even with secured Credit card, there are some financial sins that will keep you from getting approved. • That list can be different for every lender, says NessaFeddis, senior vice president of the American Bankers Association.

  5. 2. Many issuers will pull your credit history. You're considering a credit card that's designed specifically for people with no credit or tarnished credit. But if you apply, a good number of issuers will still pull your credit history, causing a hard inquiry that will temporarily shave a few points off your credit score. 3. Anyone viewing your credit report will know it's a secured card. [Source: http://www.creditcards.com/credit-card-news/9-things-know-secured-cards-1264.php]

  6. Click to know more on Credit Card : http://www.idbi.com/Credit-Card.asp Thank You…

More Related