My little writings on credit cards for bad credit
How are secured credit cards different from regular credit cards? When you receive a secured credit card, you give the credit card company a security deposit of $300 to $500. The amount of your security deposit is the size of your credit line. For example, if you leave a deposit of $400, your credit line is $400. You get bills every month and pay interest, just like with a normal credit card. The bank does not touch your deposit unless you default, in which case the bank uses your deposit to pay off your account.