The Unsecured MasterCard® or VISA® is especially designed for people who have had difficulties being approved for a major credit card. Unsecured Credit Cards are issued by Banks. Always choose one of the nation's leading credit card issuers specializing in MASTERCARD® and VISA® credit cards which help consumers re-establish their credit history.

Main Points to Check:

Does the Credit Card come with a Internet Fraud Protection Guarantee ?
ZERO Percentage Introductory APR ?
No Annual Fee ?

Secured and unsecured cards can be used to pay for goods and services. However, a secured card requires you to open and maintain a savings account as security for your line of credit; an unsecured card does not.

The required savings deposit for a secured card may range from a few hundred to several thousand dollars. Your credit line is a percentage of your deposit, typically 50 to 100 percent. Usually, a bank will pay interest on your deposit. In addition,you also may have to pay application and processing fees -- sometimes totaling hundreds of dollars. Before you apply, be sure to ask what the total fees are and whether they will be refunded if you're denied a card. Typically, a secured card requires an annual fee and has a higher interest rate than an unsecured card.

If you're considering a secured card as a way to build or re-establish a credit record, make sure the issuer reports to a credit bureau. Your credit history is maintained by companies called credit bureaus; they collect information reported to them by banks, mortgage companies, department stores, and other creditors. If your card issuer doesn't report to a bureau, the card won't help you build a credit history.