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Is a secured credit card a good choice for me?

A secured credit card is designed for someone who’s seeking to build or rebuild credit. This can include somebody who has poor credit or no credit history at all.

A secured credit card is secured by money that you deposit with the issuer. However, the issuer of a secured card may share your card activity with some or all the three major consumer credit bureaus. If you use the card responsibly, this can help you build a credit history, improve your credit health and eventually upgrade to an unsecured no-deposit card.

A secured card may come with a higher APR (Annual Percentage Rate) than an unsecured card, but it is up to the lender to decide what your APR would be based on your credit and other factors. If you carry a balance, you would be charged interest.

Keep in mind that some secured cards may come with an annual fee in addition to the higher APR and a deposit.

To find more specific information regarding a credit card offer you see on Credit Karma, you can click on the offer or where it says see details, rates, and fees. If you're unable to find the information you're looking for, you may want to reach out to the lender directly.

You may also find it helpful to see reviews other Credit Karma members have left about products you are considering.

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