How To Apply For Secured Visa Or MasterCard
You decided you want to apply for a secured Visa or MasterCard. Your credit rating is bad and you heard applying for a secured Visa or MasterCard is the answer. You are right and applying for a secured Visa or MasterCard is an easy thing to do. When you apply for a secured credit card and pay your bill on time, the process will help you raise your credit score. Eventually, you will be able to apply for an unsecured Visa or MasterCard.
To apply for a secured Visa or MasterCard, you will need:
- A bank account or a certain amount of cash to set up your Visa or MasterCard account
- Internet access
- Find a reputable credit card company where you can apply for a secured Visa or MasterCard. This is an important first step to take when looking for a credit card because there are companies (out there) who will rip you off. It is important to go to reputable credit card websites like Bankrate.com, Credit.com, or FindSecuredCreditCards.com because they will show you all the good companies who will offer you a secured Visa or MasterCard.
- Find the credit card you want to apply for on one of the above listed websites. When you find the card that matches your wants and needs, click on the “Apply Now” button next to the card. When you find the credit card you want to secure, you are ready to go to the next step.
- Completely fill out the application to apply for a secured Visa or MasterCard.
- When you get your approval from the credit card company, it will be time for you to set up your account. The credit card company will want you to connect your bank account to your new credit card account.
- Fill out the form they send you and set up your account. This is where the secured Visa or MasterCard is different from other credit cards. You are actually using your own money when you use the credit card you have just acquired.
- Deposit money into your new Visa or MasterCard from your bank account. This process will be a secure transfer from your bank, through the credit card companies secure system, and into your new Visa or MasterCard.
- Wait until you receive your Visa or MasterCard in the mail. This usually takes from a few days and up to a week. Finally, you will receive your credit card. You will call the credit card company and you will activate your Visa or MasterCard over the phone. You are now ready to use your credit card for purchases. After you use your secured credit card for a while, you will build your credit rating. When your credit rating is good enough, you will be able to secure a regular credit card.
- Always find a reputable credit card company to apply for a secured Visa or MasterCard.
- Choose the Visa or MasterCard that has the most benefits with no extra charges or fees.
- Use your Visa or MasterCard correctly and it will improve your credit scores.