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Secured Credit Cards Ohio

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 Ohio. 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 Ohio 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 Ohio 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 Ohio 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 Ohio 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 Mentor, OH

Extra Space Storage
7679 Mentor Ave
Mentor, OH
(888) 371-7734

Cardinal Community CU
8500 Westport Dr
Mentor, OH
(440) 266-2200

Chase Bank and ATM
8870 Mentor Ave
Mentor, OH
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Chase Bank
7979 Plaza Blvd
Mentor, OH
(440) 352-5530

Chase Bank and ATM
6081 Andrews Rd
Mentor-On-The-Lake, OH
(440) 352-5510

Extra Space Storage - Self Storage Mentor
7679 Mentor Ave
Mentor, OH
(440) 975-1300

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5935 Heisley Rd
Mentor, OH
(440) 357-1000

Jackson Hewitt Tax Service
7873 Munson Rd
Mentor On The Lake, OH
(440) 209-1003

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7810 Tyler Blvd
Mentor, OH
(440) 290-5650

U-Store-It
6784 Hopkins Rd
Mentor, OH
(440) 974-7755

Fifth Third Bank
6675 Center St
Mentor, OH
(440) 255-2555

Fifth Third Bank
7770 Mentor Ave
Mentor, OH
(440) 255-6707

U-Store-It Self Storage of Mentor
6784 Hopkins Rd
Mentor, OH
(440) 290-5178

Fifth Third Bank
9875 Johnnycake Ridge Rd
Mentor, OH
(440) 357-1700

Buckle
7850 Mentor Ave, Ste 744
Mentor, OH
(440) 255-8820


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