Paying with credit cards has many perks: convenience, payment protection, rewards, and — often overlooked — credit-building power. But to qualify for most credit cards, you need to have good credit in the first place. This can pose a problem for people with no credit history or for those who are rebuilding their credit.
When you are starting out or starting over financially, a secured credit card can be an effective way to build or rebuild your credit profile. Here are answers to five frequently answered questions about secured credit cards.