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Secured Credit Cards Help Build Credit


Trying to manage finances in today’s world often seems like a real rollercoaster ride. We’re up while things are good and we have money to spend. But if debt gets out of control, our finances—and often many facets of our lives—plummet too. It can take a long time to dig out of financial troubles, but is much easier to deal with if you have good advice and guidance from an experienced law firm like Fitzgerald & Campbell, APLC.

Clearing up debts can sometimes be as simple as speaking with creditors and lenders and working out a deal that works best for you in terms of paying off your debt realistically. You may need a substantial debt settlement program, debt management, consolidation—or perhaps you will need to file for either Chapter 7 or Chapter 13 bankruptcy to have your debts discharged once and for all. The goal is to have a clean slate to work from.

Once you are in the process of working to rebuild your credit, the number one priority is to avoid falling into the trap of accruing too much credit card debt or other unnecessary monthly payments. You may have trouble doing this even if you wanted to at first as your credit score may have been negatively affected by previously financial issues. It may be a while before you can command the types of credit, interest rates, and incentives you were used to previously.

A secured credit card is an excellent way to begin raising your credit score, and it is a win-win for both parties. As you put down a deposit to secure the card, it’s unlikely that you will be able to—or want to—default, and the creditor has security in the form of your cash to pay off the card no matter what. Otherwise, the secured card works just like any other card. You make charges (with the limit generally as high as the deposit you initially put down) and then pay them off or make monthly payments as is customary. There may be an annual fee to consider as well.

If you are worried about credit card debt, contact us at Fitzgerald & Campbell, APLC now. We can review your current situation and help you explore your options. We are here to help you! Call us today for a free consultation at (844) 431-3851, or email us at

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