Secured credit cards are called so because they are secured with a deposit. Secured credit cards are good for people with poor or bad credit. In order to obtain a secured credit card you also have to deposit cash. But in time you will improve your credit score and you will also have the benefits of regular credit cards. When you apply for a secured credit card there are also some fees that must be paid. These are the application fees, annual fees and processing fees. Find out which are the fees and stay away from secured credit cards with high fees.