Thursday, April 21, 2011
SECURED CREDIT CARDS
Hey guys did you know another way to boost your credit score is to apply for a secured credit card, i know no one wants to get a credit card, but this is a great way to bring that score up. Now that doesn't mean go out here and spend, spend, spend, but it's a better way to increase that score for whatever future investment you may have. The reason i say investment is who wants to increase their score to go buy foolishness, reasons for increasing score would be for a future home, business or anything that will help you develop an investment. Now this information was given to me by my lender when i asked what could be done to increase my credit score, so she advised me of this apply for a secured credit card, and once i receive it only spend $10 and when i get my bill pay it off and keep doing it for 5 months and have someone to pull your credit to see how your credit score moves up. So this is just a suggestion for anyone trying to improve their score.
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Hey. How is the interest rate.
ReplyDeleteThat's a great idea. What I do with my credit card is designate it as a coffee card. I buy only coffee and sometimes meals with that card and then pay off the balance every month.
ReplyDeleteI also learned that carrying a high balance is a no no EVEN if you are paying every month.
@vickel it's like 22% but the whole purpose is to pay it on time, so you don't feel it, but it's a sure thing...
ReplyDelete@Dana...if you are you going to use a credit card that's the best and controller way to do it. Unfortunately not everyone can be controlled with their credit cards and the banks depend on this!
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