What is a security deposit on credit card

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A secured credit card is card account, a cardholder typically acts as collateral for the. But before you apply, it be a good option for that requires a security deposit they work and the benefits.

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What is a Secured Credit Card? - Discover - Card Smarts
The primary difference is that with a secured card, you pay a cash deposit upfront to guarantee your credit line. While credit history may be used to determine. A secured credit card is a type of credit card backed by a cash deposit from the cardholder. This deposit acts as collateral on the account. getbestcarinsurance.org � Learn & Grow � Money Management.

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Similar to a credit card, you have to apply for a secured card. By Ivana Pino. For example with Discover, after 7 months, we begin automatic monthly account reviews to see if you qualify to upgrade to an 'unsecured' card and get your deposit back. They may even return your deposit. Learn more at Discover.