2. Secured credit cards are now offering cash back
rewards to their users. The users are getting a loan
just like those who have the unsecured credit card.
The interest rates are charged and there is a sign up
fee even though there is no annual fee or service
charge the customer is still charged interest for the
use of the card. Many Lyoness credit card companies
are offering special cash back rewards as an incentive
for the user to get more customers.
3. The secured cards are becoming popular in today's
market place with all the advantages the user has and
the ability to earn rewards. The credit card companies
are now offering the user a chance to earn extra money
by getting new customers for them. The residuals can
be a onetime offer or in some cases they are giving the
customer ongoing commissions for the new customers
that they bring in as a secured credit card user.
4. The secured card user is less of a risk because they
need to deposit the amount of money that they are
borrowing into a savings account which guarantee's
them the money. Since the money is already in the
savings account making the loan secure then the
credit card companies are assured that they will be
paid. The customer needs to be careful that the
amount of interest and other fees does not take most
of their deposit. Earning cash back rewards and or
getting commission for referrals is a good incentive to
get a secured cash back card.
