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Secured Credit Cards New Jersey

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 New Jersey. 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 New Jersey 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 New Jersey 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 New Jersey 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 New Jersey 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.

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Additional Resources

Top Local Results
for "Secured Credit Cards"
in Westfield, NJ

The PNC Financial Services Group Incorporated
900 South Ave W
Westfield, NJ
(888) 762-2265

Creations by Dshandmade Greeting Cards and Crafts
2082 Hill Top Rd
Scotch Plains, NJ
(908) 276-2229

Linda's Diet Delites
1049 Raritan Rd, #A
Clark, NJ
(732) 382-1099

Bank of America
855 Mountain Ave
Mountainside, NJ
(800) 841-4000

Wachovia Bank
222 Hillside Ave
Springfield, NJ
(908) 522-5433

Wachovia Bank
449 South Ave
Garwood, NJ
(908) 301-2863

Chase
500 North Ave, #1
Garwood, NJ
(908) 233-2452

Wachovia Bank
477 Boulevard
Kenilworth, NJ
(908) 931-6903

Bank of America
10 South Ave
Garwood, NJ
(800) 841-4000

Bank of America
173 Elm St
Westfield, NJ
(800) 841-4000

Bank of America
828 South Ave W
Westfield, NJ
(800) 841-4000

Bank of America Corporation
213 Summit Rd
Mountainside, NJ
(800) 841-4000

Chase
40 South Ave W
Cranford, NJ
(908) 272-2319

Safeguard Self Storage
1096 Us-22
Mountainside, NJ
(908) 264-4043

Wachovia Bank
107 Miln St
Cranford, NJ
(908) 272-3332


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