Online secured low interest rate credit card comparison is an excellent way to rebuild your credit. A secured credit card is a type of credit card secured by a deposit account owned by the cardholder. In general, these credit cards require the cardholders to deposit between 100% and 200% of the total amount of credit desired. For example, as an estimate, if the cardholder puts down $1000, he or she may be given credit in the range of $500 to $1000.

Some of the credit card issuers also offer incentives even on their secured card portfolios. In these cases, the deposit required may be significantly less than the required credit limit and can be as low as 10% of the desired credit limit. You can choose your option that caters to all your needs by a good online secured low interest rate credit card comparison.

However, you must remember that as in regular credit cards the cardholder of online secured low interest rate credit card is expected to make regular payments. If the cardholder defaults on a payment, the card issuer has the option of recovering the cost of the purchases paid to the merchants out of the deposit. Secured credit cards chosen with an online secured low interest rate credit card comparison are an option to allow a person with a poor credit history or no credit history to have a credit card which might not otherwise be available. Online secured low interest rate credit cards are often offered as a means of rebuilding one's credit. What is more, secured credit cards are available with both Visa and MasterCard logos on them.

John Gutenburg has written many more articles about banks and loans.

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