{"id":12584,"date":"2024-02-26T11:26:46","date_gmt":"2024-02-26T16:26:46","guid":{"rendered":"https:\/\/myratecompass.ca\/blog\/?p=12584"},"modified":"2025-02-04T23:36:04","modified_gmt":"2025-02-05T04:36:04","slug":"how-can-a-secured-credit-card-help-improve-credit-scores","status":"publish","type":"post","link":"https:\/\/myratecompass.ca\/blog\/creditcards\/how-can-a-secured-credit-card-help-improve-credit-scores\/","title":{"rendered":"How Can A Secured Credit Card Help Improve Credit Scores?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/how-can-a-secured-credit-card-help-improve-credit-scores\/#How_Do_Secured_Credit_Cards_Work\" title=\"How Do Secured Credit Cards Work?\">How Do Secured Credit Cards Work?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/how-can-a-secured-credit-card-help-improve-credit-scores\/#The_Benefits_Of_Using_A_Secured_Credit_Card\" title=\"The Benefits Of Using A Secured Credit Card\">The Benefits Of Using A Secured Credit Card<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/how-can-a-secured-credit-card-help-improve-credit-scores\/#Which_Factors_Affect_Your_Credit_Score\" title=\"Which Factors Affect Your Credit Score?\">Which Factors Affect Your Credit Score?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/how-can-a-secured-credit-card-help-improve-credit-scores\/#How_To_Build_Your_Credit_Score_Using_A_Secured_Credit_Card\" title=\"How To Build Your Credit Score Using A Secured Credit Card\">How To Build Your Credit Score Using A Secured Credit Card<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/how-can-a-secured-credit-card-help-improve-credit-scores\/#How_To_Apply_For_A_Secured_Credit_Card\" title=\"How To Apply For A Secured Credit Card\">How To Apply For A Secured Credit Card<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/how-can-a-secured-credit-card-help-improve-credit-scores\/#Final_Thoughts\" title=\"Final Thoughts\">Final Thoughts<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time:<\/span> <span class=\"rt-time\">4<\/span> <span class=\"rt-label rt-postfix\">Min<\/span><\/span>\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"12584\" class=\"elementor elementor-12584\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-959c448 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"959c448\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1852d5b\" data-id=\"1852d5b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2d4abc0 elementor-widget elementor-widget-text-editor\" data-id=\"2d4abc0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><b>Secured credit cards<\/b> are often used to build good credit from scratch. If you have a non-existent credit history or a low credit score, these tools can be life-changing. But how exactly do they work, and how do you get one?\u00a0<\/p><p>In this article, we explore the ins and outs of secured credit cards and outline their features, benefits, and how to use them to effectively rebuild your credit.\u00a0<\/p><p>If you\u2019re ready to build your credit and work towards your financial goals, read on!<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0babc18 elementor-widget elementor-widget-heading\" data-id=\"0babc18\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"How_Do_Secured_Credit_Cards_Work\"><\/span><b>How Do Secured Credit Cards Work?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0af25e9 elementor-widget elementor-widget-text-editor\" data-id=\"0af25e9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>To get a secured credit card, you need to make a <b>security deposit.<\/b> This deposit acts as collateral for the card issuer and <b>sets the credit limit. <\/b>For example, if a user makes a $500 security deposit, they will have a $500 credit limit on their secured credit card. The deposit is <b>refundable,<\/b> usually after a certain period of responsible credit card usage or when the cardholder decides to close the account. <b>This allows users to make purchases and build credit just like with a regular \u201cunsecured\u201d credit card.&nbsp;<\/b><\/p>\n<p><b>Secured credit cards<\/b> are ideal for cardholders who want to build credit but cannot access a traditional \u201cunsecured\u201d credit card because of a poor credit history or lower credit score. You can use a <b>secured <\/b>credit card to make purchases, pay bills and withdraw cash. All the transactions made with a secured credit card are reported to the credit bureaus, allowing individuals to establish or rebuild their credit history.<\/p>\n<p>The difference between a secured and unsecured credit card is as follows:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c2979c1 elementor-widget elementor-widget-text-editor\" data-id=\"c2979c1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\n<table id=\"tablepress-13\" class=\"tablepress tablepress-id-13\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th class=\"column-1\">Secured Credit Card<\/th><th class=\"column-2\">Unsecured Credit Card<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\">Requires a deposit.<\/td><td class=\"column-2\">It does not require a deposit.<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">Requires reliable enough income and a not-overly risky debt history. <\/td><td class=\"column-2\">Requires a good credit score and reliable credit history.<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">Improves credit score over time.<\/td><td class=\"column-2\">Improves credit score over time.<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\">Typically lower credit limit. <\/td><td class=\"column-2\">Typically higher credit limit.<\/td>\n<\/tr>\n<tr class=\"row-6 even\">\n\t<td class=\"column-1\">Does not come with extra rewards and benefits.<\/td><td class=\"column-2\">Comes with extra rewards and benefits. <\/td>\n<\/tr>\n<tr class=\"row-7 odd\">\n\t<td class=\"column-1\">Lower interest rates<\/td><td class=\"column-2\">Higher interest rates<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-13 from cache -->\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a6d35b elementor-widget elementor-widget-heading\" data-id=\"0a6d35b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"The_Benefits_Of_Using_A_Secured_Credit_Card\"><\/span><b>The Benefits Of Using A Secured Credit Card<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e75ffd1 elementor-widget elementor-widget-text-editor\" data-id=\"e75ffd1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Secured credit cards offer several benefits for individuals looking to build or rebuild their credit history:<\/p>\n<ul>\n<li><b>Inclusivity:<\/b> Because secured credit cards require a security deposit, they are often available to individuals with poor or limited credit history.<\/li>\n<li>&nbsp;<\/li>\n<li><b>Chance to demonstrate financial responsibility<\/b>: By paying back your card regularly, establishing a positive credit history, and keeping your credit utilization low you can demonstrate financial responsibility to future lenders.<\/li>\n<li>&nbsp;<\/li>\n<li><b>Zero liability protection<\/b>: Most credit cards come with this feature. It protects the cardholder from potential fraud.<\/li>\n<li>&nbsp;<\/li>\n<li><b>Free Credit Monitoring<\/b>: Depending on the secured credit card you get, it may offer free credit monitoring. Making it easier to monitor your progress and helping you catch issues before it\u2019s too late.<\/li>\n<li>&nbsp;<\/li>\n<\/ul>\n<p>These features can offer peace of mind to potential card users and make it easier to start the journey to a good credit score.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2381fe elementor-widget elementor-widget-heading\" data-id=\"e2381fe\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Which_Factors_Affect_Your_Credit_Score\"><\/span><b>Which Factors Affect Your Credit Score?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d8171bb elementor-widget elementor-widget-text-editor\" data-id=\"d8171bb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Various factors contribute to your final credit score. These factors include <b>other loans and debts<\/b>, your <b>credit utilization ratio<\/b>, your <b>payment history<\/b>, and how recently you applied for a credit card.\u00a0<\/p><p><b>The extent to which each factor contributes to your final credit score is as follows:<\/b><\/p><ol><li><b>1. Payment history:<\/b> Your payment history accounts for <b>35%<\/b> of your credit score. It tracks how consistent you are at paying your debts and if you pay them on time.\u00a0<\/li><li>\u00a0<\/li><li><b>2. The amount owed<\/b>: The amount owed determines <b>30%<\/b> of your credit score. This refers to the amount of credit you use each month. If you regularly use all or more of your available credit you are seen as unreliable and risky. The ratio of available credit to the amount borrowed is known as the <b>credit utilization ratio<\/b>.\u00a0<\/li><li>\u00a0<\/li><li><b>3. Length of credit history<\/b>: The length of your credit history accounts for <b>15%<\/b> of your credit score. The longer you\u2019ve been able to demonstrate financial responsibility, the better your score.\u00a0<\/li><li>\u00a0<\/li><li><b>4. New Credit<\/b>: This refers to how often you apply for loans or credit and accounts for <b>10% <\/b>of your credit score. Regularly needing extra funding or loans can lower your credit score in the long term.\u00a0<\/li><li>\u00a0<\/li><li><b>5. Credit mix:<\/b> This refers to how many types of credit you manage, including credit cards or other types of loans. It accounts for<b> 10%<\/b> of your credit score. The more varied your credit, the better.<\/li><li>\u00a0<\/li><li><b>Now that you know how your final score is calculated<\/b>, you can take action and start building it up.<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cd6f9c7 elementor-widget elementor-widget-heading\" data-id=\"cd6f9c7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"How_To_Build_Your_Credit_Score_Using_A_Secured_Credit_Card\"><\/span><b>How To Build Your Credit Score Using A Secured Credit Card<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b999d90 elementor-widget elementor-widget-text-editor\" data-id=\"b999d90\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Building credit with a secured credit card requires responsible financial management. To build credit, see the following guidelines and tips:<\/p>\n<ul>\n<li><b>Pay your bill on time<\/b>: If you consistently pay your credit card bill on time it will reflect in your payment history and add up quickly. If you cannot pay the entire bill, make at least a minimum payment each month and pay the balance in full to avoid accruing interest charges. <\/li>\n<li>&nbsp;<\/li>\n<li><b>Keep your credit utilization low<\/b>: As mentioned earlier, credit utilization is the ratio of used credit to the total credit available. Aim to use less than 30% of your credit each month to build your score faster. <\/li>\n<li>&nbsp;<\/li>\n<li><b>Be patient<\/b>: The longer you demonstrate financially responsible behaviour, the better your chances of building positive credit. <\/li>\n<li>&nbsp;<\/li>\n<li><b>Avoid opening too many new accounts:<\/b> Opening multiple new credit accounts within a short period can negatively impact credit scores.<\/li>\n<li>&nbsp;<\/li>\n<li><b>Diversify your credit mix<\/b>: Generally, it\u2019s unwise to take on more debt, but if it makes sense for your circumstances, try and diversify the debt. For example, taking on a credit builder loan or paying off your student loans alongside your credit card can demonstrate reliable behaviour. <\/li>\n<li>&nbsp;<\/li>\n<li><b>Monitor credit reports<\/b>: Throughout this process, ensure that you keep an eye on your credit reports and catch any errors early on. <\/li>\n<li>&nbsp;<\/li>\n<\/ul>\n<p>In the end, it comes down to being consistent, patient, and responsible with your credit card. Try to only use a little bit of your credit each month and then pay it off as soon as possible. Over time, this will create a payment history that demonstrates to future lenders that you can pay back your debts.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f6b8677 elementor-widget elementor-widget-heading\" data-id=\"f6b8677\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"How_To_Apply_For_A_Secured_Credit_Card\"><\/span><b>How To Apply For A Secured Credit Card<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eeebf25 elementor-widget elementor-widget-text-editor\" data-id=\"eeebf25\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>To start applying for a secured credit card, first, you need to research several banks and credit unions and get a rough idea of the rates, eligibility requirements, and fees for secured credit cards.<\/p>\n<p>Once you know which secured credit cards suit your needs you can apply online or visit a local branch. <b>During the application process, be prepared with the following information:<\/b><\/p>\n<ul>\n<li>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income details.<\/li>\n<li>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Your security deposit.&nbsp;<\/li>\n<li>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Personal information, such as identification details. <\/li>\n<li>&nbsp;<\/li>\n<\/ul>\n<p>After the application is submitted, the card issuer will review the information and determine whether to approve or deny the application. If approved, you will need to make the security deposit before the card can be activated and used for purchases.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-41554e1 elementor-widget elementor-widget-heading\" data-id=\"41554e1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"Final_Thoughts\"><\/span><b>Final Thoughts<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d4f728 elementor-widget elementor-widget-text-editor\" data-id=\"3d4f728\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A secured credit card can be a valuable tool for improving your credit score. With a little patience, plenty of discipline and consistency, and well-timed payments, you can increase your credit score and set the stage to achieve your financial goals and dreams. Good luck!<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time:<\/span> <span class=\"rt-time\">4<\/span> <span class=\"rt-label rt-postfix\">Min<\/span><\/span> Secured credit cards are often used to build good credit from scratch. If you have a non-existent credit history or a low credit score, these tools can be life-changing. But how exactly do they work, and how do you get one?\u00a0 In this article, we explore the ins and outs of secured credit cards and&hellip; <a class=\"more-link\" href=\"https:\/\/myratecompass.ca\/blog\/creditcards\/how-can-a-secured-credit-card-help-improve-credit-scores\/\">Continue reading <span class=\"screen-reader-text\">How Can A Secured Credit Card Help Improve Credit Scores?<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":12588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[1],"tags":[21],"class_list":["post-12584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-creditcards","tag-blog-post-template-1-main-template-to-use","entry"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-scaled.jpg",924,544,false],"thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-150x150.jpg",150,150,true],"medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-300x177.jpg",300,177,true],"medium_large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-768x452.jpg",750,441,true],"large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-1024x603.jpg",750,442,true],"1536x1536":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-1536x905.jpg",924,544,true],"2048x2048":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-2048x1207.jpg",924,545,true],"post-thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-1568x924.jpg",924,545,true],"post-image-medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-397x234.jpg",397,234,true]},"post_excerpt_stackable":"<p>Table of Contents How Do Secured Credit Cards Work?The Benefits Of Using A Secured Credit CardWhich Factors Affect Your Credit Score?How To Build Your Credit Score Using A Secured Credit CardHow To Apply For A Secured Credit CardFinal Thoughts Reading Time: 4 Min Secured credit cards are often used to build good credit from scratch. If you have a non-existent credit history or a low credit score, these tools can be life-changing. But how exactly do they work, and how do you get one?\u00a0In this article, we explore the ins and outs of secured credit cards and outline their features,&hellip;<\/p>\n","category_list":"<a href=\"https:\/\/myratecompass.ca\/blog\/.\/creditcards\/\" rel=\"category tag\">Credit Cards<\/a>","author_info":{"name":"Mohamed Konate","url":"https:\/\/myratecompass.ca\/blog\/author\/mohamedkonate\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-scaled.jpg",924,544,false],"thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-150x150.jpg",150,150,true],"medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-300x177.jpg",300,177,true],"medium_large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-768x452.jpg",750,441,true],"large":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-1024x603.jpg",750,442,true],"1536x1536":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-1536x905.jpg",924,544,true],"2048x2048":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-2048x1207.jpg",924,545,true],"post-thumbnail":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-1568x924.jpg",924,545,true],"post-image-medium":["https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-397x234.jpg",397,234,true]},"post_excerpt_stackable_v2":"<p>Table of Contents How Do Secured Credit Cards Work?The Benefits Of Using A Secured Credit CardWhich Factors Affect Your Credit Score?How To Build Your Credit Score Using A Secured Credit CardHow To Apply For A Secured Credit CardFinal Thoughts Reading Time: 4 Min Secured credit cards are often used to build good credit from scratch. If you have a non-existent credit history or a low credit score, these tools can be life-changing. But how exactly do they work, and how do you get one?\u00a0In this article, we explore the ins and outs of secured credit cards and outline their features,&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/myratecompass.ca\/blog\/.\/creditcards\/\" rel=\"category tag\">Credit Cards<\/a>","author_info_v2":{"name":"Mohamed Konate","url":"https:\/\/myratecompass.ca\/blog\/author\/mohamedkonate\/"},"comments_num_v2":"0 comments","jetpack_featured_media_url":"https:\/\/myratecompass.ca\/blog\/wp-content\/uploads\/2024\/02\/How-Can-A-Secured-Credit-Card-Help-Improve-Credit-Scores-scaled.jpg","_links":{"self":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/12584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/comments?post=12584"}],"version-history":[{"count":16,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/12584\/revisions"}],"predecessor-version":[{"id":13241,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/posts\/12584\/revisions\/13241"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/media\/12588"}],"wp:attachment":[{"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/media?parent=12584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/categories?post=12584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myratecompass.ca\/blog\/wp-json\/wp\/v2\/tags?post=12584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}