Do secured credit cards help me build my credit score?

5 minutes read
  • What is a secured card?
  • Do they give credit scores?
  • Difference between Secured and Unsecured cards

When acquiring a new credit card there are many options for you to choose from, but Secured Credit Cards are one of the best options if you are starting to build your credit score or trying to improve it. If a secured card is what you’re looking for, here’s how they work.

What is a secured credit card?

Secured credit cards need an initial deposit so you can open an account. This is a security payment that the issuer requires for risk purposes. The initial deposit varies from card to card, but it will usually be your credit limit. Secured credit cards work like any other credit card. They have a statement date, a credit limit, and they can be used at any establishment or platform that accepts credit cards.

Do they give credit scores?

Yes, they do. Secured credit cards could help you build or improve your credit score if you use them appropriately, such as by paying off your card balance before the due date. Secured cards usually have higher rates, so try to keep your balance as low as possible.

Difference between Secured and Unsecured Cards

The main difference between these two is that secured credit cards require an initial deposit for opening the account. This deposit will usually determine your credit limit (the more you deposit, the higher the credit limit).

Unsecured cards are credit cards that do not need a security deposit. These credit cards have lower fees and the credit limit is determined by the bank.

Most of the big banks offer both secured and unsecured cards, so make sure to ask for the best card that fits your needs.


If you need a new credit card you should probably start by checking your credit score, here at Crediverso you can do it entirely for free. If you are trying to improve it, you should aim for Secured Credit Cards, which are easier to obtain and are financially sustainable.


Daniel Quiroz

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