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Improve Your Credit Score With Secured Credit Cards

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Stellina99



Joined: 29 Jan 2009
Stellina99's page
Posts: 3



223 Magic Points

Subject: Improve Your Credit Score With Secured Credit Cards
 
Posted on Sat Mar 07, 2009 6:00 am  

Hi,
Most people around the world do. Life just seems to come at you and catch you off guard at the worst possible moment. If you are looking to improve your credit, then getting a credit card my actually help you dig yourself our of the bad credit hole you find yourself in.

Snoreta
aby



Joined: 29 Jan 2009
aby's page
Posts: 32



114 Magic Points

 
Posted on Sat Mar 07, 2009 2:07 pm  

Hey Stellina99
you are right in secured credit card if you have a good credit history and once its reported to the one of the credit bureaus company then your credit score will definitly increase.Once you start paying your debt within dues then they may offer you unsecured credit card at low interest rate.

Regards
-----------
Aby
ensurepune

ensurepune

Joined: 17 Feb 2009
ensurepune's page
Posts: 99



501 Magic Points

 
Posted on Sun Mar 08, 2009 2:21 pm  

Stellina 99, I am agree with you in this aspect that if one want to increase the credit score the unsecured credit card is a good move to start with.

Initially if you go for the unsecured one and if you are unable to manage the due amount every month then you may fall in a bad trap of the loan.so it is always good to start with secured loans. Arrow
DEVID85



Joined: 05 Mar 2009
DEVID85's page
Posts: 23



27 Magic Points

 
Posted on Sun Mar 08, 2009 7:10 pm  

Seems to be a nice option from all positive replies. But I have diabates. Hence after all those sufferings, I am now habitual to ask, how exactly will my diabates will get cured and there may be hidden sucrose in the food itself?
Missy28
Guest






Subject: bad credit score
 
Posted on Mon Mar 09, 2009 4:20 pm  

Hey everyone I just wanted to get some advice on this one my husband is paying off my credit cards, and he wants me to close them both down I told him that isn't fair he has a credit score of almost 800, and mine is at a measly 559 it has gone up considerably since last year it was at 402 I can afford my monthly payments but I feel behind last month on one of my credit cards, and then they raised my minimum payment up to more than my credit limit so I'm thinking of just paying that one off, and just making my minimum payments until I can afford to get a secured card from one of the banks any ideas? Should I just close the two high intrest rate cards I have, and go for a secured card or leave these two open w/ no balance?

Thanks for your help Cool
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30054 Magic Points

 
Posted on Tue Mar 10, 2009 7:10 am  

If the high interest credit cards have a good credit history and does not show in your credit report as delinquent accounts, you should not close it. However, if these cards show as negative delinquent accounts in your report, you can close them and go for secured credit cards to build up a credit history. But I think that if you have no outstanding on these two credit cards and the cards do not have any annual fees, you should keep them open.
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Carol
DEVID85



Joined: 05 Mar 2009
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Posts: 23



27 Magic Points

 
Posted on Wed Mar 11, 2009 5:38 pm  

Incresing the credit limits help incres the score. Credit card is an encouraging step if you have good control over expenditure. Credit cards offer many perks that although seem low, can total a good value in a year. You can buy those things that are must for you through credit cards than by cash. Also you have option of buying online. If you have multiple cards, it is good as your total utilization gets divided into two or three cards. It means the non utilized difference (credit limit minus expenses) remains low helping raise your score.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: cc
 
Posted on Thu Mar 12, 2009 4:19 am  

I was recently looking into a Secured CC.....Applied CC. It looks REALLY good to help raise my Credit score. I haven't done anything with it yet...just trying to 'catch up' on a few things, first. However......I just don't want to get in 'over my head' by having to make payments to something extra. here's the delimma: yep, it would help my Credit. Nope, I don't need another payment, with something else, right now. Any advice?
justjade

justjade

Joined: 16 Mar 2009
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Posts: 9



244 Magic Points

 
Posted on Tue Mar 17, 2009 6:58 pm  

Can anyone recommend a particular secured CC...or are they all the same? i just went to bankrate.com and they have all kinds of secured cc information.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: credit
 
Posted on Tue Mar 17, 2009 10:51 pm  

Well, JUSTJADE.........I haven't gotten the this certain CC yet, but, another member, on this site ( named DOC.) had recommended a CC called Applied CC. I went on their site and looked at the card. To me, anyway, it looks pretty good. I just haven't had a chance to get it yet. Actually.......this is a CC that DOC recommends to improve your credit.
ensurepune

ensurepune

Joined: 17 Feb 2009
ensurepune's page
Posts: 99



501 Magic Points

 
Posted on Sat Mar 21, 2009 7:03 am  

justjade
bankrate is a good site. i won't recommande any card but it is really a good info over there. you can go dor any good CC available over there. Wink
CreditGeek001



Joined: 31 Mar 2009
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Posts: 1



42 Magic Points

 
Posted on Tue Mar 31, 2009 12:09 pm  

I'm glad I found this forum as I've been searching for an answer to this same question. I read an article about secure credit cards on a site that looked to be more devoted to bad credit credit cards so I wanted to know if what it said was right.

Looks like it was. Cheers. Smile
spikegrrrl



Joined: 24 Mar 2009
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Posts: 5



190 Magic Points

 
Posted on Wed Apr 01, 2009 4:45 pm  

Are the guidelines for a secured credit card very demanding? As of today my FICO is 569; is this too low for a secured card?
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30054 Magic Points

 
Posted on Thu Apr 02, 2009 4:04 am  

As far as I know, since the secured credit cards are backed by your own money and you get the credit limit equal to the amount you deposit with the credit card company, the company does not perform credit checks to issue you a card. Although 569 is a very low credit score, but if you go for secured cards, you can get one easily.
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Carol
GarySnober



Joined: 08 Apr 2009
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Posts: 66



9 Magic Points

 
Posted on Mon May 04, 2009 5:39 am  

Well put carol, Yes your credit limit will be the amount of money you put up front and they will not check your credit. It will help you build credit as it does report to all 3 major credit bureaus.

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