 TITLE: How Secured Credit Card Deposits Work CONTENT: How to Make a Deposit on a Secured Credit Card\n----------------------------------------------\nMaking your security deposit is usually the last step in the secured credit card application process. You'll fill out an application online, provide personal information such as your Social Security number and financial information such as your monthly income, and decide how high you want your credit limit to be. Typically, secured credit cards let you select a credit limit ranging from $200 to $2,000; some cards offer set amounts (such as $250, $500 or $1,000) for you to choose from.\nOnce you select the credit limit you want, you'll make a deposit for that amount (and pay any application fees, processing fees or other fees the card issuer charges) via electronic transfer or debit. Before you start filling out your online application, make sure you have enough money available to transfer at the end of the process.\nBecause you submit your deposit as part of the application process, you'll typically be approved immediately. Your secured credit card will then be mailed to you; as soon as you receive and activate it, you can start using it right away.\nAre you nervous about putting down a deposit online without having a credit card in hand? Some secured credit card issuers let you apply online and wait to make your security deposit once you've been approved and receive your credit card. Once you make the security deposit, the card will be activated and ready to use. Keep in mind that if you don't make the security deposit within a certain time period set by the card issuer, your card approval will be withdrawn. END