Robert Garcia
Top-Rated Seller on Upwork & Fiverr
Secured Credit Card
In This Article
Definition
Credit card requiring a cash deposit as collateral, designed to build or rebuild credit with responsible use.
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FAQs
How do secured cards help build credit?
They report to bureaus like regular cards, building history with low approval requirements.
Similar Terms
Credit Utilization
Percentage of available credit being used. Keeping below 30% (ideally 10%) helps maintain good credit scores.
Hard Inquiry
Credit check that appears on your report and may temporarily lower your score, typically from loan or credit applications.
Soft Inquiry
Credit check that doesn't affect your score, used for background checks, pre-approvals, and personal credit monitoring.
FICO Score
Most widely used credit score model, ranging 300-850, used by 90% of lenders for credit decisions.
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