A recent report by Reserve Bank of India indicated declining use of credit cards in India. The credit card count fell by 1.36 million between February 2008 and 2009 on a year-on-year basis. Besides, the credit card base also shrank by 359,000 in February.

The Indian Cards Council (ICC) revealed that the non-performing asset (NPAs) in the Indian credit card business has grown four times over the last fiscal year.

Are you one of those credit cardholders whose credit card limit has been reduced? Or you are unable to use your credit card due to bad credit history, or did the issuing bank cancelled your credit card?

Secured credit cards are a way out...

The article will help you in understanding the use of secured credit cards. You get to know how you can use this option to avail credit, buy when you have no cash, or improve your credit history.