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Secured Business Credit Card

by Samantha Bennet on 2014/08/05

Why Is A Secured Business Credit Card Your Best Choice After A Bad Credit Score?

When you are hit hard with a bad credit report, keep in mind that a secured business credit card is the right product for you to save yourself from trouble.

Now the instinctive question from you will be “why can’t you try getting an unsecured credit card for bad credit?”

Well credit card companies are very interested in giving unsecured credit cards for customers with poor credit but the catch is;

  • These cards are enormously overpriced.
  • Their annual rates and annual fee is too high.
  • If you are looking for an economical option, they don’t qualify as eligible choices. Secondly, unsecured credit cards also make it very difficult paying back your debt because of the high annual fee and interest rates.

    Apply for a credit card for your business

    Secured Business Credit Card Can Help You To Build Your Credit Score

    Many people witha  bad credit score do not consider secured business credit cards because they are not very keen on paying a deposit upfront.

    However, the fact is that a secured business credit card is much easier on your pocket and helps you to build credit score effortlessly.

    Click here for additional Business Credit Cards

    The lower APR and annual fee makes it much easier keeping up with your payments. Moreover, secured business credit card companies provide your credit report to all the major credit bureaus from time to time so that your credit score will be rebuilt in a timely manner.

    Verdict:

    It goes without saying that going for a secured business credit card over an unsecured credit card is the best way to rebuild your credit card history and avoid a major financial crisis for a second time.

    However, make sure that your secured business credit card is started with a small deposit so that you don’t borrow beyond your repayment capabilities.

    Courtesy of CreditCardShoppe.com

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