Скачать или смотреть Can Secured Credit Cards Have High Interest Rates?

Considering a secured credit card to build or repair your credit? It's crucial to understand a potential catch: these cards can indeed come with high interest rates. This video explains why this is the case and how you can use them smartly.

Here's what you need to know about secured credit cards and interest rates:
► Secured credit cards often have higher Annual Percentage Rates (APRs) than traditional unsecured cards.
► Lenders impose higher rates due to the increased risk associated with borrowers who have limited or damaged credit history.
► The best strategy to avoid interest charges is to pay your full balance every month.
► Your primary goal with a secured card should be to establish a strong payment history and build credit, not to borrow money cheaply.


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