One of the top U.S. secured credit cards has beefed-up its website to provide better cardholder education. The Capital One (COF) OpenSky Secured Visa Credit Card new site debits this week.
This improved gateway comes at a time when the number of consumers seeking accessible credit is high”nearly 1.5 million households filed for non-business related bankruptcy during 2014, according to U.S. courts bankruptcy filings. At the same time, an estimated 1.6 million students”who typically have little to no credit card history”graduated from four-year colleges according to statistics from the National Association of Colleges and Employers.
A person with no (or not-so-good) credit who cannot qualify for a regular credit card can “secure” a card by depositing funds with the card issuer equal to the amount of his or her approved credit limit. This gives individuals an opportunity to build their credit history as a stepping-stone to a more solid financial future.
The OpenSky Secured Visa Card is a key player in the market space. The number of cardholders doubled in 2014″currently 50,000 cardholders and growing. The card is easy to get, requires no credit check, and cardholders can quickly build their credit history with OpenSky’s monthly reporting to all three major consumer credit bureaus. The OpenSky card was recognized by Credit.Net as one of the best credit cards for 2014 that build credit fast.
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