Secured credit card, one way to prevent you from getting into credit card problems

Average American has about 10k credit card debt. He/she typically has that much credit card debt in addition to car loan, student loan and mortgage. Some argue that those who have huge amounts of credit card debts raise the average, but many (or most) of those who live in poverty probably do not have any credit card debt because they do not own any credit card. Also many people take home equity loans to consolidate their debts. They may not have any credit card debt or they only have small credit card debts in this case; however, having home equity loans is not better than having credit card debts.Debt creates number of problems. Debt does not only create monetary problems, but it creates other problems as well. Debt is very stressful, and it sucks energy out of you. Stress can also make you physically sick over time. Of course, once you become sick, you can have many more problems. How can you avoid that? In the end, spend only what you have is the answer, but given how credit cards are often required in many circumstances, it is rather difficult to live without having any credit cards. So, what's the answer? Secured credit card. Secured credit card does not make you debt free automatically, but it probably gives you more financial security than regular credit cards.You have to make a deposit to make a secured credit card, and that deposit makes your credit line, so you never spend what you do not have. In case that you end up spending a lot and not being able to pay off the debt from your paychecks, you can just cancel the card and let your deposit pay off the debt for you. Therefore, there is zero risk of your getting into debt.Also you need to save money to create a deposit to make a secured card, and the amount of money you can save is about the same amount of money that you should spend. Suppose that you manage to save $500 to make a secured credit card that has the credit line of $500. If you can save $500, then you can also pay off that much credit card debt pretty comfortably. Credit card companies do not really care if you can comfortably pay off your credit debt or not, and this is why they often give you large credit lines. Credit card companies generally benefit from this in the end, but this often does not work out for you because these credit lines are too large. You can never really get into that situation when you use a secured credit card.Finally, all secured credit cards satisfy your needs. As you use a secure credit card and make regular payments, your FICO credit score improves (whether you like it or not, FICO credit score is probably the most important statistic today, and you really want to have a high FICO credit score; the higher, the better). No restaurant, retailer or website distinguishes between your secured credit card and other regular credit cards. It works.I actually have a secured credit card now, and I wrote this to kind of remind myself the value of the secured credit card. I admit that I feel a bit wary, since my credit line isn't very large, but my financial status speaks for the value of the secured credit card. I do not have any debt, and I pay all credit card bills in full in one cycle. Not many people can do that comfortably. I am not a wealthy person, but how can I do that comfortably? It's partly because I use a secured credit card instead of one of those regular credit cards.

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