Building/Repairing Credit
Hi Terry, I am now in my early 30s and needing to reestablish my credit. I have not owned or used a credit card in nearly 10 years but a delinquency from college is holding me back from being approved for a line of credit at my bank. Are there any options other than using a co-signer for getting a credit card and building credit history anew?
Thank you.
Terry Says
Oh yes, absolutely. You need a “secured card” — a card secured by a savings account deposit in the bank that issues the card. then the bank issues a VISA or MC and you start charging on it — paying off IN FULL and ON TIME every month. That will build a new credit record –and soon you’ll start getting offers for more cards.
Be careful!
Read this to find one: https://www.creditcards.com/secured/
