How to get credit as a single mom of 3 children
My daughter is a single mom and supports 3 young children. She needs a credit score to apply for a house she wants to rent, but she gets denied when she applies for a credit card. How can she build credit?
Terry Says
She needs a “secured card” — a regular credit card where her limit is based on a savings deposit in the bank that issues the card. She should use it regularly, repay IN FULL and ON TIME every month. That payment history will be reported tothe credit bureaus and she will build her excellent credit score by doing that.
Here’s a link to the page at CreditCards.com where she can find a secured card and apply.
