Do secured credit cards really help rebuild credit?
Yes secured credit cards well help you rebuild your credit. And you don’t want to wait as its a long process and if you wait untell everything drops off, up to ten years for bankruptcy’s and 7 years for almost everything else you’ll one miss out on alot of oppurtuiniteies plus you’ll have to start from scratch in the future which sometimes is harder then with bad credit. The trick is to use the card properly. Never pay it late of course! Never charge more then 30% of your available credit ( the reason is only a small part of your score is payment history, other parts of the score are your debt ratio, and amount of available credit, whether you’ve ever charged more then the available balance, and a bunch of other stuff) The best card in your situaition would probably be the Orchard Bank credit card they are a divison of HSBC and have low fees and have great customer service. If you get a secured card and make all the payments and keep the balance low you can see an increase of 100 point
