What is Guaranteed Secured MasterCard?

MasterCard refers to the financial corporate organization company that manages payments between consumers and the bank of merchants. MasterCard was conceived and developed by two entrepreneurs Raymond Tanenhaus and Stanley Benovitz who later sold it to the United California Bank. It subsequently merged with other banks like Wells Fargo, Crocker National Bank and Union Bank of California.
The article talks about the following:

1. MasterCard Credit Account


2. Secured Credit Cards


3. Partially-Secured Credit Cards

What is the MasterCard Credit Account?

The MasterCard credit account provides various features like extended warranty on items bought on the card, damage waiver on cars and accidental insurance on travel. The MasterCard uses a global telecommunication network which links different MasterCard users, acquirers and data processing centers into a single financial network known as BankNet.
A guaranteed secured MBNA MasterCard is given to consumers who do not qualify for a normal credit card account in terms of sound financial background or credit checks. The cardholder can use the secured MasterCard while trying to rebuild a healthy credit record. Due to this provision, it is widely accepted by financial institutions. A secured MasterCard is not available in every country or with every banking institution. It is only available with secured MasterCard partner institutions.

What is the Concept of Secured Credit Cards?

Secured credit cards in Canada were initially meant to assist consumers who experienced negative credit ratings and are in the process of building their credit records. If you desire to build your credit from scratch or you want to re-establish your credit, it is important to check out all the secured credit cards in the market. You can find all the reviews and ratings for comparison of terms, features and benefits. This will help you make an informed decision in getting the best rated secured credit cards. All the top credit card companies, including Visa, MasterCard, American Express and Discover will definitely want to help you build your credit. Take a look at their guaranteed credit card offers and you will be on your way to build a solid credit rating.

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What is the Definition of partially-Secured Credit Cards?

The partially secured credit cards are offered to consumers who have attained moderate financial position.
These credit cards require a deposit amount or collateral money from the applicants. Many of the partially secured credit cards allow the card seekers to withdraw the collateral amount as per free will. However, after withdrawal of the collateral, the partially secured credit card becomes an unsecured credit card.
Before you apply for partially secured credit cards, it is best to make a comparative study between the major firms such as HSBC, Bank of America, Citibank, and J.P Morgan Chase. It is also prudent to seek the help of financial advisers while applying for partially secured credit cards. The collateral or deposit amount for a partially secured credit card differs. The amount is determined by providers. There may be annual fees for unsecured credit cards but the partially secured credit cards usually do not have any annual maintenance fees. The banks and other card providers have toll-free customer care help lines. Any online query is resolved as soon as possible. These are good cards to build credit with as the annual percentage rates are lower than the unsecured ones.

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The MasterCard Credit Cards

MasterCard in Canada offers a variety of credit cards that you can design to fit your needs by adding very advantageous options. You can check out the features and benefits through online resources and the MasterCard website.