If you want to rebuild your credit, the best way to do so is to go for secured credit cards. This is because secured credit cards are backed by your own money and so there is no hard inquiry in your credit report. Whenever, you go for an unsecured credit card, the creditors pull out your credit report to check your credit history and this hard inquiry again lowers your score. So go for secured credit cards, which do not even require a good credit score.
Yes, if you do not have a good score and you want to build up a good history, secured credit cards will help you to do so. But make sure that you make regular purchases with the credit card and repay back the debt within the due date. Doing this will improve your credit history and hence your credit score. However, unlike unsecured credit cards, the secured credit cards have an annual fee.
I had a 'Un-secured' card, at one time. It was Imagine CC. I DID have an annual fee with that one....$48.00 annual fee. At least, that what Imagine said it was. I'm looking into a 'Secured CC now......Applied CC. Got the CC info off of a site, given on the forum, from DOC.
If you want to rebuild your credit, the best way to do so is to go for secured credit cards. This is because secured credit cards are backed by your own money and so there is no hard inquiry in your credit report. Whenever, you go for an unsecured credit card, the creditors pull out your credit report to check your credit history and this hard inquiry again lowers your score. So go for secured credit cards, which do not even require a good credit score.
Yes, if you do not have a good score and you want to build up a good history, secured credit cards will help you to do so. But make sure that you make regular purchases with the credit card and repay back the debt within the due date. Doing this will improve your credit history and hence your credit score. However, unlike unsecured credit cards, the secured credit cards have an annual fee.
credit
I had a 'Un-secured' card, at one time. It was Imagine CC. I DID have an annual fee with that one....$48.00 annual fee. At least, that what Imagine said it was. I'm looking into a 'Secured CC now......Applied CC. Got the CC info off of a site, given on the forum, from DOC.