Best Secured Credit Cards

admin December 26, 2014

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If you’re trying to get your finances back on track, applying for a bad credit credit card is key to achieving this goal. As you probably know, none of these are the best credit cards on the market — in fact, many don’t even offer rewards. But opting for a secured credit card is still the way to go because it will help you rebuild your credit score.

Not sure how, or which one is right for you? Check out the details below for all the information you need about secured credit cards for people with bad credit.

Why choose a secured credit card?

If your goal is to rebuild your credit score, choosing a secured credit card over a prepaid debit card is a wise move. Here’s why: Secured cards require you to tap a credit line and build up a small amount of short-term debt when you make your purchases. By repaying them on time and in full each month, you’ll be creating a track record of responsible credit use.

In time, this will help your credit score improve. But with a prepaid debit card, you’re simply using the funds you’ve loaded onto the plastic – there’s no credit line involved. As a result, your credit score won’t be affected.

The key takeaway here is that as soon as you can get together the funds to put down a deposit on a secured card, you should apply for one of the products below. Otherwise, your credit will stay stuck in the doldrums.

Best secured credit cards for bad credit consumers

Secured credit cards have a somewhat dodgy reputation because many of them charge high interest and fees. While none of the rates on the cards we’ve chosen are low, you can avoid them altogether by paying your bill in full each month. Given this, we based our choices mostly on fees and other card attributes.

Here are our top picks in secured credit cards:

Wells Fargo Secured Visa Card

on Wells Fargo’s
secure website

With the Wells Fargo Secured Visa Card, you’ll have the opportunity get a credit line of $300-$10,000, depending on the amount of your up-front deposit. Although those funds will be held in an account that doesn’t earn interest, you’ll have the opportunity to get them back if you use your card responsibly.

We like this card because its annual fee and interest rate are low compared with other secured cards. The annual fee is $25. The ongoing APR is 18.99%.

Another thing we like about this card is that Wells Fargo will regularly review your account and credit profile and may upgrade you to an unsecured card when they like what they see. This is one of the benefits of getting a secured card from a major issuer.

US Bank Secured Card

on US Bank’s
secure website

The US Bank Secured Card is another good pick among secured cards. The credit limit you can get with the card ranges from $300-$5,000, depending on the amount of your deposit. But the good news is that your deposit will be housed in an interest-bearing account with US Bank until you’re ready to upgrade to an unsecured card.

Speaking of moving from secured to unsecured, US Bank will review your account information and history after 12 months. If you’ve been diligent in using the card, making your payments on time and staying out of debt, it’s likely you’ll be on the unsecured path in no time.

The US Bank Secured Card’s annual fee is $35. The ongoing APR is 20.99%, but again, you can avoid this by paying in full each month.

UNITY® Visa Secured Credit Card – The Comeback Card™

on One United Bank’s
secure website

Last but not least, the UNITY® Visa Secured Credit Card – The Comeback Card™ is another secured card to consider. Its interest rate is the lowest of the bunch at9.95% on balance transfers for 6 months, and then the ongoing APR of 17.99% (Fixed). Although it charges a slightly higher annual fee than our other two picks,$39 certainly isn’t exorbitant.

You can get a credit line of $250-$10,000 with this card, and again, this depends on your initial deposit.

The only slight drawback to this card is that the path to getting an unsecured card is somewhat unclear. After 6-12 months of responsible use, you might have to apply for an unsecured card with another issuer – the option to upgrade directly with OneUnited Bank doesn’t seem to be available. But since reports about your activity with the UNITY® Visa Secured Credit Card – The Comeback Card™ will be made to all 3 credit bureaus, your good credit habits should eventually make getting a regular card relatively easy.

Other tips for rebuilding credit

In addition to getting a secured credit card and using it regularly, follow the Nerds’ top tips below to rebuild your credit:

Pay your bills on time, every time.
If you can, make multiple payments on your credit card throughout the month so that your credit utilization stays low.
Don’t apply for any additional credit cards – for right now, your focus should be on making timely, in-full payments on your secured card.
Check your three credit reports once per year. If you spot an error, take steps to have it corrected.

Happy swiping!

Source:www.nerdwallet.com

Account Now Balance Check

admin April 1, 2012

Account Now provides a prepaid debit card that is the number one solution to people who are fed up with banks, checking cashing stores or other financial institutions. With an Account Now Prepaid Debit Card you are able to withdrawal cash at the atm, shop online at your favorite websites like Amazon.com and manage your money online all like a regular checking account. These great features are available and come with a minimal monthly fee that can be waived with direct deposit.

Once you have your Account Now prepaid debit card one of the main functions that you will want to do is check the balance on your card. This will ensure that you have enough funds to shop or pay your bills. While checking your balance you can also view your past transactions for the card. Viewing your past transactions can allow you to monitor your spendings and check to see if there was any fraudulent activity on the card. As an Account Now debit card holder you are not responsible for any fraudulent charges and you will be reimbursed that money. This is why it’s so important to check your balance.

Account Now Balance Check

You can view your balance online by visiting your Account Now Login page.
Once logged in click on the hyperlink that says “Card Account Activity”
Your current balance will be displayed as well as all of the past transactions

As an added bonus Account Now also offers a free text messaging service to alert you when your balance reaches a certain point. This way you’ll know when the cash is running low and you need to add more funds!

Account Now Login Help

admin November 17, 2011

Account Now prepaid debit cards are a great way to manage your funds because you don’t have to worry about things like late fees, missed payments or overdraft fees. You enjoy all of the same benefits of a regular credit card or debit card holder, but without the hassle. Remember when you used to have to wait in long lines at the bank to cash your check?

Well with a prepaid card from Account Now you will be able to shop at your favorite stores, make purchases online or withdrawal cash at ATM’s. Finally get the financial freedom that you desire with a prepaid visa or prepaid MasterCard.

Account Now Login Help

Account Now offers a great online platform where you can manage your money, transfer funds to different accounts, or set up your paycheck for direct deposit. If you refer your friends to the program, you will get a $20 bonus and they will get $10 after they set up their card and add money.

To login to your Account Now card, first you need to visit their website. If you are a returning customer you need to enter your last name, social security number, and zip code. Click login as shown in the image below, and you will have instant access.

If you need to activate your Account Now prepaid card and set up your account, then you need to visit the setup page. Here on the setup page you’ll need to enter your card number and then personal identification information. Following that you can either add funds onto the account or set up direct deposit. If you select to have your paycheck directly deposited with Account Now, they will give you a $25 bonus for free!

Nice Prepaid Credit and Debit Cards

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