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Seukpanya

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how does a secure credit card work?
im thinking about getting the secured credit card from capital one to improve my credit score. can someone tell me if it is worth it and how it works.

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Top Contributor
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I suggest a local credit union

Over an online type of card 

a secured card is basically a savings account. The deposit in the savings acct will "guarantee" the the card. The amount you deposit will be you credit limit. After a period of time they will release the deposit and the card will become unsecured.

After a year of or so you will be able to apply for other unsecured cards based on your history with the secured card  

Use the card sparingly, never charge more than 50% of you limit. AND always pay it off before using it again. Or use it for only one or two types of purchases, say gas and groceries. In that case pay it off every month. With in a few months you'll begin to see your score and with a good payment history you'll see it rise. 

Educate yourself using this and other websites. Understanding how to manage your credit is a lifelong skill that managed well will benifit you for the rest of your life 

Good luck. 

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