As a Former

Oct 14, 2024 | bankrate.com | Sarah Estime |As a Former |Madison Hoehn

If your balance isn't paid off during the introductory period, interest charges are added to any remaining balance you may have. Options for handling the remaining balance include making a lump sum payment, revamping the payment plan, taking out a debt consolidation loan or transferring the balance to another 0 percent APR card. It is important to have a plan in place to pay off the balance before the introductory period ends to avoid high-interest charges.

Aug 9, 2024 | bankrate.com | Sarah Estime |As a Former |Alice Lesperance

Once you’ve built up your credit and are ready to close your secured credit card account, you can reach out to your card issuer to get your deposit back. To avoid any credit score impact, consider upgrading to an unsecured card with the issuer rather than closing the secured card account. When you upgrade or close your account, the issuer will refund your secured card’s deposit in the form of a check, a statement credit or bank account credit.