DS-1.com

Home > Finance > Debunking 5 Secured Credit Card Myths > CO

Secured Credit Cards Colorado

Debunking 5 Secured Credit Card Myths

by Sean Masterson

When it comes to secured credit cards, many myths abound. From "they're only for people with bad credit" to "they're more expensive than unsecured cards", you can't always distinguish the truth from the lie. Worry not Colorado. I'm debunking the most common secured credit card myths.

1. Secured Cards are a Bad Credit Stigma
Think a secured card announces to the Colorado world that you have bad credit? Guess again. Most secured cards are indistinguishable from unsecured cards. Your card itself won't say anything and your credit report won't show the fact that your account is secured.

2. Secured Credit Cards Have High Interest Rates
Many Colorado people assume that secured cards are for people with bad credit, and as such they have a higher interest rate attached to them. This isn't the case. A secured credit card is less of a risk to creditors because the credit line is backed by a bank account. Because of this, secured cards often have lower interest rates than many of the bad credit unsecured cards.

3. They're For People with Bad Credit
If you think a secured credit card is only for Colorado people with bad credit, you can rethink that logic. Secured credit cards are for people from all walks of life. You don't have to have bad credit to carry one. Many Colorado people with decent credit qualify for unsecured cards, but not the best ones. In these cases, a secured credit card can offer better terms and higher credit limits.

Continue Article...

AddThis Feed Button

Related Articles

Commodities Broker Colorado
Credit Report Repair Colorado
Home Loans Colorado
Home Equity Loans Colorado


Regional Articles

Additional Resources

Top Local Results
for "Secured Credit Cards"
in Arvada, CO

Arvada Locksmith Service 24/7
5314 Ward Rd
Arvada, CO
(877) 818-5814

Public Service Credit Union
7502 W 80th Ave
Arvada, CO
(303) 691-2345

Feijoo, Adrian J - State Farm Insurance
7754 W 38th Ave
Wheat Ridge, CO
(303) 422-3429

US Bank
6011 W 44th Ave
Wheat Ridge, CO
(303) 420-5124

Extra Space Storage
7117 W 56th Ave
Arvada, CO
(720) 381-2652

Chase Bank and ATM
8015 Kipling St
Arvada, CO
(303) 244-5520

Chase Bank and ATM
7605 W 88th Ave
Arvada, CO
(303) 423-0271

Chase Bank and ATM
14605 W 64th Ave
Arvada, CO
(303) 244-5700

Chase Bank
6335 Sheridan Blvd
Arvada, CO
(303) 431-4984

Chase Bank
8155 Sheridan Blvd
Arvada, CO
(303) 412-7830

Costco
5195 Wadsworth Blvd
Arvada, CO
(303) 463-3603

Chase Bank
4704 Harlan St
Denver, CO
(303) 244-5210

N Scale Supply
4980 Kipling St
Wheat Ridge, CO
(303) 456-6702

Sally Beauty Supply
5091 Kipling St, #200
Wheat Ridge, CO
(303) 432-8026

Gnc
5091 Kipling St, #220
Wheat Ridge, CO
(303) 432-8585


Insurance
Health
Travel
Finance
Business
Automotive
Legal
Careers
Telecom
Homes
Electronics
Internet