When you obtain a credit card with a credit score that is under 500 it is very important to not only make sure you make your credit card payments on time every month, but it is very important to borrow very little on these cards to help re-establish your credit history and scores quickly. Ideally, you never want to borrow over 30% of your credit limit, however as long as you stay below 50% of your credit limit you will be OK.

It is important to be very proactive with a secured credit card, particularly if you have a credit score under 500. You do not want to ever exceed your credit limit, and you always want to make timely payments. The fees for such a card are high enough, you don't want to add late payment fees.

A secured credit card is an attractive option if your credit score is under 500. The secured card will help you improve your credit score.

Check with your local bank where you have a checking and savings account. If you have an account open with some balances, they may grant you a low-limit credit card so you can start to build your score back up.

Secured credit cards are definitly the best way to improve your credit score. You are escentially paying your bill up front with your initial deposit, so there is no risk to the credit company, yet it reports to all 3 major bureaus. You can find several secured credit card options at the following links.

http://www.credit.com/products/credit_cards/secure.jsp
https://www.dcu.org/loans_visa/visa_index.html

Applying for a Secured credit card is a simple process. It includes a security deposit payment to insure payment to the issuer. The main benefit of this is that the creditor will report you payments to the credit bureaus which can increase your scores.

Does anybody have a list of reputable vendors for secured credit cards I can pass along to my clients?