When we open up our first credit card at the age of 18, we often don’t know the rules of using and owning one. There is a lot to learn when it comes to credit cards, and it’s important to treat them like a debit card instead of unlimited cash. People can easily get lost in debt within the first few weeks of just owning one. Therefore, it is important to remember the interest rates of your card, to pay off your balances in full and to always keep your card in a safe and protected place.

If you’re someone who has bad credit, credit cards that are all maxed out or a bad credit score, you may want to consider getting a secured credit card. These have many benefits, and for some it may be the only way to get your credit score boosted for a second time.

If you’ve heard of secured credit cards, but you’re not sure how they work, let me quickly explain. For people who have bad credit, you most likely won’t be able to get a good loan or a loan with a good interest rate. The banks see you as a threat and don’t trust that you’ll pay them back or that you will take much longer to pay back than the average person. So, what a secured card will do is help get your credit back up so you can start using your other cards again.

You will start by going to a bank or applying for one online. You will then sign up for the card, and give the banks an amount that you want on the card. For example, it’s like a debit card. However much you have on your card, that’s what you can spend. When the money runs out, so does the time for you to go shopping and spend money. These are great because you can’t dig yourself deeper into debt, but instead fix your credit by showing the banks you’re disciplined and able to pay off your bills. So, how do you find one of these secured cards? Continue to read below to find out!

Online: The easiest way to get started is by going on the Internet. You can always type what you’re looking for in the search engine and it will usually come up. So, type in “secured credit cards” and see what comes up. You will most likely find websites dedicated to finding you a credit card.

Banks: If you don’t feel comfortable or don’t know how to use the Internet too well, you may want to consider going to a bank. Talk with someone who works there, tell them your situation and ask how they can get you started with a secured card.

Secured credit cards are great because they give you a second chance to fix your bad credit and to prove yourself to the banks. If you have bad credit now, you still have the opportunity to fix it and turn it around!