​Credit Cards To Help Rebuild Credit

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August 16, 2012

Credit Cards To Rebuild Credit – Credit reports are becoming more common these days for just about everything. There are free loans and credit cards available to help rebuild process. It’s a big step, but an easy task once you get started.

It seems like a credit check is done on just about everything these days. For example, landlords and car insurance companies check it to see how responsible you are. Society is moving towards a 3 digit number to determine what type of person you are.

If you apply for a retail job, chances are the employer will check your credit to find out how you handle money and your own finances. It’s important to check your file each year to make sure it has accurate information. Some information can alter your FICO score.

There are a number of ways to fix a bad FICO score, but we’ll begin with credit cards to repair and improve your credit first.

Apply for an “Secured” Visa or Mastercard if you have bad credit. Your card limit is your deposit. You simply add funds to the card. However, make sure you do not spend more than 25 percent of your available credit limit.

If you keep the balance low, your score will get a nice boost because you have available credit to spend, and since you are not spending it, it shows that you are responsible.

You might even improve your credit enough to get an unsecured Visa credit card. Try to pay any collection balances due. Moreover, don’t get crazy and apply for multiple cards because several declines for credit will lower your score.