The Secured Visa: SECURED SPENDING

2007-03-08 10:33:40

( Financial )



Much has been said about the pitfalls of credit cards; how it can bury us in debt if we are not mindful about how we use it. While using credit cards do present some risks, these disadvantages must always be weighed against their usefulness in today’s modern world.

BANK’S CONSCIOUS EFFORT

The good news for consumers is that banks and other credit card companies like visa recognize these problems and are taking steps in the right direction towards protecting their clients. If you want to apply for a visa card, rest assured that the company is now making a conscious effort to create the best credit card for its consumers.

SAVED BY SAVINGS

Among the many in the market today, the best credit card so far is the secured card. Specifically, secured visa cards are backed by your own savings account. Before you can avail of secured visa cards, you must open and maintain a savings account. Your credit limit will be based on a percentage of your savings.

What makes secured visa cards so special? For very obvious reasons, secured cards safeguard you from falling too deep in debt as you have a savings account to fall back on in case you may have problems making your credit card payment. It provides you with peace of mind knowing that you have something to turn to if the finances become too tight.

If you want to apply for a visa card you have a lot to choose from. A secured visa may be in the form of a disney visa card, a student visa card, a citi visa, a citibank visa, a chase visa card, etc. Consult with your bank before you apply for a secured visa so they can explain to you the many secured visa card options you have.

CONTROLLED SPENDING

Whether secured visa cards as the best credit card in existence today is still up for debate. Ultimately, you as the user must be the one protecting yourself. While banks now recognize the value of making credit cards more consumer-friendly, these secured visa cards can only do so much. Whether you fall in debt or not is really up to you – in the final analysis, you are the one who should be in control of how you spend your hard-earned money.


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