Preview Mode Links will not work in preview mode

The Money Exchange

Apr 16, 2024

In this episode, I delve into the realm of secured credit cards. They serve as a viable alternative for individuals grappling with poor credit or lacking a credit history, often facing hurdles in securing approval for traditional credit cards. The distinguishing feature of these cards lies in their requirement of a cash deposit, offering reassurance to the card issuer in the event of non-payment by the cardholder.


Typically, most secured cards mandate a deposit ranging from $200 to $300, although exceptions exist, including one card with a lower deposit option. While every secured card permits deposits exceeding the minimum threshold, many impose a cap on the maximum deposit amount.


Tune in to this podcast episode for an insightful exploration of secured credit cards and their role in kickstarting and rejuvenating your credit journey.



  • Credit Builder Card 


  • Capital One Quicksilver Secured Cash Rewards Credit Card 


  • Discover It® Secured Card 


  • It’$ My Money Academy  


Connect with the host, Patrina Dixon