Boost Your Score With Secured Credit Cards
Bad Credit or no credit history can impact your daily life. One can easily be subjected to higher interest rates, or turned down for various purchases altogether. Whether you are someone who is seeking to establish credit or rebuild your score; a secured credit card may be just the tool for the job. Secured credit cards are like savings accounts in that you deposit funds onto the card as collateral which secures your line of credit. Unlike prepaid cards, the institution reports your performance history to the 3 major credit bureaus. You could see a dramatic increase in your score over the course of 6 months to a year. This is an excellent opportunity to strengthen your score, build a relationship with local banks, and potentially obtain better rates on future loans and credit cards. By utilizing the card in a responsible manner, i.e. paying on time and not overspending, in time you will be seen as a safe and maybe even strong borrower. It is never too early or too late to evaluate your credit and get the score that will save you money in the long run. I’ve included a link below to more information about a great tool called Credit Karma which can help consumers manage and monitor their credit score.
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