2 ms·

I've never used a secured credit card, and I'm with you that it seems ridiculous. But I think a more honest question is: Why do people do this? I'm willing to

I've never used a secured credit card, and I'm with you that it seems ridiculous. But I think a more honest question is: Why do people do this? I'm willing to give folks the benefit of the doubt for being smart and rational. So genuine question we should be asking ourselves (or them): What is the appeal of a secured credit card? Is it really just about the credit score?

tintor 3y ago
It is just for improving very low credit score, for people not eligible for regular credit cards.
ekimekim 3y ago
I did this when I first moved to the US, and had zero credit history (which the system considered to mean "high risk"). The entire point is to improve your credit score.