Expert advice on leveraging a secured credit card for a better credit score [Video]

(InvestigateTV) — Around 14% of Americans say a roadblock for them when trying to improve their credit is not being able to get approved for a credit card, according to a recent NerdWallet study.

Sara Rathner, a personal finance expert with NerdWallet, said those with bad credit and trying to repair it, or those new to building credit could consider a secured credit card.

“With this kind of card, you make a cash deposit up front and that becomes your credit limit and over time with thoughtful use, you may be able to graduate to an unsecured credit card which is the more traditional credit card we’re used to,” Rathner explained.

A secured credit card is often easier to obtain because it’s backed by that cash deposit, so it’s less risky for the creditor.

Rathner also said consumers shouldn’t feel bad if their credit score has taken a hit.

“It is really easy to let this three-digit number, …