Credit Cards

Semi-secured credit card

Semi-secured credit cards are offered by some credit card issuers to borrowers who have had bad credit, but have begun to turn it around and make on-time payments. Typically, the product starts out as a secured card, in which the credit limit equals the amount of money a consumer deposits with the issuer. After a certain period of on-time payments, the credit line may be extended slightly beyond the deposit amount. Semi-secured cards are a middle step between completely secured and completely unsecured cards.