One last thing I am pondering before getting a secured credit card.
Your due date is at least 25 days after the close of each billing cycle. We will not charge you interest on new purchases, provided you have paid your previous balance in full by the due date each month.
So that means I lose nothing if I always repay what I spent, and that would grant me full access to my credit line, whatever that may be. In short, I can't ever lose money by repaying the money owed and being given the full line of credit ... considering there's no annual fee. Is this true?
Credit line: 300.
Credit line 270.
Owe 30 by X date.
Pay 30 on or before X date.
Credit line goes back to 300.
Since you can always get your security deposit back as long as you don't have any payments, is any money actually lost if you pay it back and get it back?
I'm not too smart so please help me. Thanks!