Credit card

The Capital One Platinum Secured has a lower minimum deposit than many other secured credit cards, and with responsible use you could improve your credit ...

The regular Capital One Platinum Credit Card is not a secured card, and is designed for those with fair or To be considered for the Capital One Platinum Secured Credit Card, you don't need a good credit score. That said, once you're able to show that you're managing your credit card responsibly by making on-time payments, Capital One may upgrade you to the unsecured version of the card. Starting in as little as six months after you open your Capital One Platinum Secured Credit Card, Capital One will automatically review your account and consider you for a credit limit increase. The Capital One Platinum Secured Credit Card requires a minimum security deposit of $49, $99, or $200 (depending on your creditworthiness) to secure a $200 credit line. Capital One cards, including the Capital One Platinum Secured Credit Card, don't add [foreign transaction fees](https://www.businessinsider.com/personal-finance/best-credit-cards-no-foreign-transaction-fees), so you can confidently use your card when traveling abroad without worrying about getting stung with extra charges. With responsible use, your credit score should start to improve, which can help you qualify for loans, mortgages, and other credit cards down the road. Be sure to compare all of your options to find the right secured card for your wallet. And although the card doesn't earn rewards, you'll have the opportunity to be considered for a credit line increase in as little as six months if you make payments on time. However, there are other secured credit cards that earn rewards and offer more perks, including the [best credit cards](https://www.businessinsider.com/personal-finance/best-credit-cards) is next to impossible if you have a [bad credit score](https://www.businessinsider.com/personal-finance/what-is-a-bad-credit-score) or no credit history at all. Because it's a secured credit card, you'll have to put down a security deposit — but its minimum deposit is lower than that of many similar cards.

Michaels is betting on a new credit card -- the first in the history of the company -- helping retain shoppers and increase basket sizes.

“Brands are modifying their rewards programs to make sure the benefits are distributed equally between the customer and the brand,” she said. However, Pilecki said there is still room for branded credit cards, depending on the retailer and its customer base. Bennett said that “the rewards overhaul is part of our ongoing work to transform ourselves into an omnichannel retailer.” With the new branded credit card, which can only be used at Michaels’ stores and its website, the retailer hopes to attract power shoppers looking for even more savings. Another current challenge for retailers, Pilecki said, is getting customers to sign up for credit cards at a time when they’re trying to manage debts and cut back on spending. Moreover, she said that “our in-store experience is a big part of the retention strategy.” This is particularly true of traffic generated through in store events. “We’ll be adding events to more locations this year,” she said. “We thought: how do we extend the loyalty program and give them even more value?” “So we’ve revamped the program to simplify it into two tiers,” Bennett said. “For retailers, it’s more important than ever to earn loyalty, and our program can be a huge differentiator to people who shop with us,” Bennett said. On Wednesday Michaels introduced a private-label credit card, the first ever in the company’s 50-year history. The card offers 9% in rewards points on every purchase, along with perks like free shipping, special financing opportunities and exclusive discounts throughout the year.

You are right to be wary of using your emergency fund to pay off the card debt. It is not always easy to find the most appropriate balance of saving money or ...

I have said this many times before: paying a minimum amount on a credit card each month will not lower the debt. On top of this, you can use public transport instead of taxis. This will offer a much lower interest rate and a more manageable monthly payment. You would be surprised at how much money you fritter away each month. Yes, there are some benefits to having a credit card. Aim to keep your emergency fund at around six months worth of expenses, including the loan payment. Credit card interest rates are very high. We have been trying to [clear this debt for many years ](https://www.thenationalnews.com/business/money/2022/10/19/the-debt-panel-i-maxed-out-my-credit-card-to-pay-for-unexpected-expenses/)now, but with little success. In your case, using your emergency fund to pay off one credit card in full and converting debt on the other card into instalments could be a good strategy if you still have enough money in your emergency fund to cover at least three to six months of living expenses after making the payment. If you are worried about losing your emergency fund, you could consider keeping a portion of it untouched, while using the rest to pay down part of your debt. You are right to be wary of using your emergency fund to pay off the card debt. Our friends have been advising us to use our emergency fund to pay off one credit card in full and convert debt on the other card into instalments.