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This type of card looks and works just like a normal bank card, but uses your bank deposit like a guarantee or collateral. For anyone who is not able to pay the amount due punctually, for example, the financial institution can use your deposit for your outstanding balance.

A bank secured bank card is perfect for consumers who do not be eligible for a regular charge cards either because they don't have any credit score yet, or simply because they have gone bankrupt and therefore have undesirable credit scoring. Creating a bank secured charge card shows the bank that you will be financially able to paying monthly dues. If you use the card responsibly, the bank may eventually offer you an unsecured credit line. Generateur de Carte Bancaire

Because you only get to charge a quantity that matches your deposit, you can be certain that you won't overspend. When you are unable to give the balance, for instance, the lender simply deducts the payment from your family savings. Using a bank-secured credit card, there's no risk of incurring debts.

But like all other bank cards, the disadvantages of your bank-secured bank card appear when you use it irresponsibly. If you do not pay punctually, for instance, you'll be confronted with high interest fees and overdue charges. Generateur de Carte Bancaire

Most bank-secured charge cards only allow limited transaction frequencies, and that means you is only able to use it a particular number of times. The banks use this measure to guard against overdrafts. It's also quite difficult to seal a bank-secured credit card - you'll not get a deposit immediately. The bank can keep your money for some more billing cycles in order to make sure that no sketchy charges were made. Generateur de Carte Bancaire