http://www.unsecuredcardpick.com/credit-card/visa-credit-card/secured-visa-credit-card/ A secured Visa credit card benefits lots of people. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 What Secured Visa Credit Cards are For Most people don't know if they have a secured Visa credit card or an unsecured Visa credit card, and most don't even know the difference. But if you've ever had credit problems, you might be a little more familiar with a secured Visa credit card. It might be the only one you can get. That's not a bad thing though because secured credit card can help you rebuild your credit. There are other reasons people choose to get a secured Visa credit card as well. Some people just don't trust themselves to have a regular card, and others do it for security reasons. They're also very popular for parents who have kids away at school for the first time. All too often, students fall prey to credit card companies who have representatives on campus that suck them in to applying for their card with offers of a free t-shirt or something similar. Then your student gets a credit card with a $500 limit. They go out and buy stuff with it, and then they get a bill that says they only owe $20. They get all excited about it, and keep right on charging. Before they know it, they're maxed out and graduating with a mountain of student loan debt. It may have even happened to you! To avoid this, get your student a secured Visa credit card prefilled with $500 for the semester. Tell them if they want to add to it, they can. (It's reloadable.) But let them know how this kind of prepaid card works. When the money runs out, the card is declined. Unlike secured credit cards that will "float you" then charge an over-the-limit fee, a prepaid card will simply not allow the transaction. To avoid embarrassment, most students will try to keep track of what they've spent. Then when they move on to an unsecured credit card in the "real world" they will have good credit card habits in place. Too many people spend far beyond what they can afford to pay back in a timely fashion. But, the fact is that it is one of the most important factors in securing a home loan or similar loan later on down the road. All of our children need to learn not only the importance of a good credit rating, but also how to ensure one for themselves and their future. Starting out college or university with a Visa student credit card can help to build the foundation for this before they even get out there in the Rat Race. Sat, 26 Jul 2008 15:00:00 EDT