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Old Apr 01, 2013, 03:53 PM
Inedible Inedible is offline
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Member Since: Jun 2011
Posts: 837
With a secured credit card for say $500 you start out with a balance of $500 due. As you pay on it, it turns into available credit. When it is paid off - they have $500 of your money to use as a security deposit - you may still have fees to pay based on the terms of your card. It really is a good way to get something positive on your credit history.
Thanks for this!
anneo59