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Secured Credit Card Marketing Scams

Ads shouting "Anyone Can Qualify for a Major credit Card" may appeal to you if you have a poor credit history or no credit at all. Beware: while secured credit cards can be an effective way to build or re-establish your credit history, some marketers of secured cards make deceptive advertising claims to entice you to respond to their ads. Secured vs. Unsecured Cards Secured and unsecured cards can be used to pay for goods and services. However, a secured card requires you to open and maintain a savings account as security for your line of credit; an unsecured card does not. Learn more and protect yourself by reading this helpful FTC bulletin.

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