How Do You Rebuild Damaged Credit And Get A Secured Credit Card/Loan?
One way to rebuild credit is by getting a secured credit card. A secured credit card acts similar to a debit card but spends like a credit card. You deposit funds onto the card, which becomes your credit limit, and spend against those funds. Typically, poor credit is a result of bad payment habits. With a secured credit card, debt is not an issue since you can only charge the amount you have deposited on to the card. Use your secured card to make purchases that you can afford to pay off at the end of each month. Look for a secured card that reports to the credit bureaus as unsecured. If you cannot find one, many credit card companies will allow you to convert your secured card to an unsecured card after you have established a good timely payment history. Make sure that the creditor reports to all three credit bureaus. If you cannot convert your secured card into an unsecured card, apply for an unsecured card with another credit card company when you are ready and able to make timely pa
