If those things are denied, they can always try to get a secured account, where they actually open up a savings account and securities. These cards are similar to regular credit cards but are backed by money on deposit with the issuing bank. Money securing these cards may be in a savings account, bank money-market fund or certificates of deposit, also called CDs. The credit line on a secured card is typically 50-100 percent of the amount on deposit. But there are other advantages, too.
Many banks pay interest on the money on deposit.
Other alternatives to credit cards make access to cash convenient without putting students at risk. Jonathon Mock, former SA president and senior biology major from Denver City, said he finds check cards helpful. Banks don't report check cards to credit bureaus, however, so they won't help build a good credit history. Yet they won't destroy someone's credit history. With a better understanding of credit cards at the forefront, students should be able to make better credit decisions without getting into serious debt and destroying their credit history.