A secured card still sends you a bill, because the deposit is collateral the issuer holds rather than a balance you spend down.

In the US, required fees in the first year cannot exceed 25 percent of your opening credit limit.

A 300 dollar limit makes utilization brutal: one 250 dollar grocery run reports as 83 percent used.

In Canada the one-time setup fee is not part of your deposit, and you may not get it back if you are declined.

Read the full guide

pennyandplan.com