Question by artist: Personal Credit help please.Can I rebuild credit "Faster" with "Secured Credit Cards" through my credit union?
Can I increase my score by getting "Secured Cards" and pay them slowly over the next year?Trying to rebuild after a BK several years ago,and I dont want to apply for any 3rd party cards.
Best answer:
Answer by Rob B, of MD
Secured cards often cost money. If the sole security is the balance in your account, then it might not be so bad.
However, pay the full balance off every month. If you are not going to be able to pay it off, do not put it on the credit card.
Good luck!
What do you think? Answer below!
What classifies as "bad credit"?
you can use https://www.moneybookers.com/app/?rid=3577417
read “Total Money Makeover” by Dave Ramsey, full of info on how to secure your future and be debt free, incresing your livable income. The best way to rebuild credit is by paying off what you have however you can and not aquiring any more debt. Slow and steady wins the race. Really, read the book, it’ll change your outlook on everything financial.
yes you can. thats what they are all about.
This type of card is one way to build your credit there are also other credit card companies that don’t require a security deposit. Try “First Premier” or “Capital One” they have high interest but if you make your payments on time and pay them off each month you should be alright. Don’t put alot on your credit card keep your balance to something that you can afford to pay each month. Also once you have obtained a credit card don’t ever close the account this will take a hit to your credit score. Leave it open and just don’t use it. I have one that I have tucked away in case something happens in a emergency.