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FAQ #40916

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How much money can someone borrow on a secured credit card?

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It depends on the terms of the loan agreement and the amount of money that is deposited with the credit card issuer. A secured cardholder's credit line is a percentage of the amount of money that is deposited, typically 50% to 100%. The amount of money required for a secured credit card deposit can range from several hundred to several thousand dollars, and the credit line will be set accordingly.

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