Getting credit when you have bad credit honestly isn’t easy. I know from personal experience. It wasn’t that long ago that my credit was trashed. I couldn’t get a line of credit to save my life. I couldn’t get credit cards and I couldn’t get loans (actually I couldn’t even get a cell phone [...]

Most people understand how credit cards can help them to build credit. However, very few people are familiar with secured credit cards. There aren’t generally television commercials about them and people don’t talk about them a lot. These cards can be an extremely useful credit building tool, if you understand how to use them.
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Bad credit is like an infection. It enters, spreads and then weakens the whole system. When it takes hold, the problems snowball. First the interest rates rise on future loans. As the interest rates rise, the monthly payments go up. When the monthly payments go up, the borrower has a hard time meeting them and [...]

Now that is a tough question! Talking about credit cards is never black and white, because people use them with varying degrees of responsiblity. That said, this lesson should give you a decent idea of how much secured credit cards can help your credit score. Since there are different types of people who would [...]

There are a lot of people out there who would like to improve their credit ratings. Some of them already have credit lines, and for them it’s easy. All they have to do is make on-time payments on their credit cards, keep their balances low, and avoid major catastrophes. However, it gets a lot [...]

Use – the main reason that people use these credit cards is to build their credit. Secured credit cards and unsecured credit cards are most definitely preferred over this option, of course, there are individuals who can’t qualify for those options. Most people can get approved for a secured card, unless they have had [...]

Primary use – Building credit when you have no credit. These credit cards are also extremely useful for rebuilding credit when you have bad credit. Either way, you are a high risk for a bank or card company because you don’t have a history of paying your bills on time. Because of that risk, [...]

A very common question around here is whether the use of prepaid credit cards will boost a person’s credit score. It most certainly will, as long as the card company you use reports to credit bureaus. Some of them do, and some of them don’t. If they don’t say that they report, they probably [...]