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November 06, 2006
Got Bad Credit, Want to Fix it?
It is likely that you have bad credit because of a mis-use of a credit card, that is the case with most Americans in your situation.
Now that you have ruined your credit because of a credit card, maybe it's time to get another card. Only this time you will be responsible with your charge card and use it sparingly.
Remember that your credit card IS NOT an infinite well of money
So...If you are one who succumbs easily to temptation, leave your card at home.
But wait a minute...You have bad credit and want another card but the banks won't grant you a new credit card account. What are you to do?
There is one option that will keep you out of financial despair and ruin and that option is a secured card.
The word "secured" in the term secured credit card means that the line of credit is secured by you making a deposit on the card to guarantee that any delinquencies on your account will get paid.
A secured card assures that the bank will get their money back because you pay before you use.
Now, it is important that you get a secured charge card that will report to the credit bureaus because you want to improve your credit score.
I have posted some secured cards that do report to the 3 major credit bureaus here (click)
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