Secured Cards:  

Secured credit cards are designed for individuals looking to build a solid credit status over time. Credit cards offer a credit reporting feature, and card members who want to take advantage must be prepared to make early balance repayments. The general idea of a secured card is to accommodate those individuals finding it difficult getting accepted on unsecured cards. A secured card requires a security deposit to be held in an account proposed by the issuing bank. This deposit forms a large percentage of how much is given in credit. Members can retrieve their deposit at any point in time. Most secured cards offer guaranteed approval with no credit checks. Secured cards listed below are reserved for the Australian market.