Obtaining a secured credit card can become one of the most costly credit cards on the market today.
It is the interest rate, membership fee, charges for late payments, and other fees accessed that can eat up the amount of money you put into a savings account to secure your credit card.
It is not easy for you to get a credit card and maintain a good credit record when most of the money you apply towards your card is eaten up in fees.
A secured credit card may help you when it comes to making reservations at hotels or airlines but the expense behind using one may make you wish that you had another resource.
You need to make sure that your APR% is within reason, that membership fee for the year is not high and most of all that there are no hidden costs attached.
Credit card companies have a tendency to charge you when you do not use the card monthly fees and sometimes they charge you when you feel that it is very unnecessary.
When this happens do not be afraid to challenge the company asking questions about why you are being charged.
You should not pay any fee that is within reason but make sure in the initial agreement does not state that they have the right to make fines and fees for late payments or for none use of the secured credit card.
You are bound by the agreement so make sure that the agreement states what you want.