4. Secured Credit Cards (2)

Many secured credit cards have a conversion option. This lets you convert the card into a regular credit card after several months or a year if you use the secured card responsibly. Because regular credit cards typically have lower interest rates and annual fees than secured credit cards, it’s usually preferable to obtain a card with a conversion option. To find a bank offering a secured credit card, call some local banks or do some surfing on theInternet. Two sources of information are Bank