A secured credit card is often the first step to establishing or re-establishing credit. Many advisors will recommend starting out with a secured card and then moving on to a unsecured card. In general, it is a good way to build a credit history. Most lenders like to see some sort of revolving credit on your report.A secured credit card allows you to open and maintain a savings account that works as the security for your line of credit. You can't spend any more than you have in your savings. Some banks will even limit you to half of your savings as your credit card limit. The deposit can range from a few hundred dollars to thousands.
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