 TITLE: Credit-Builder Loans vs. Secured Credit Cards: Which Is Best? CONTENT: Which Option Is Best?\n---------------------\nAre you torn between a credit-builder loan and a secured credit card? The best option for you will depend on your needs, financial situation and other factors.\nCredit-builder loans may be a better fit if you want to save money while establishing or rebuilding your credit. They're also sometimes preferred over secured credit cards because they may not require a credit check and you may pay less in interest for a credit-builder loan than a secured card. In addition, you won't have to worry about the upfront cost associated with a secured credit card if you choose a credit-builder loan.\nHowever, secured credit cards could be more ideal if you require a bit more flexibility. They can be used like regular credit cards, and some offer benefits, like travel and purchase protections and cash back rewards.\nPlus, some secured credit card issuers review accounts occasionally and sometimes grant credit limit increases without requiring an additional deposit. There's a possibility the card can be converted to an unsecured product, which means the credit card issuer will return your security deposit. This is good news if you initially wanted a traditional credit card but didn't qualify because of your credit history. END