Credit Recovery Store
Build or Rebuild Your Credit Score
Click Here To Apply For Your Secured Credit Card Now!!!
__________________________________________________________________________________________________________________________________________________________________________________________________________________________
"One of the reasons you are on this website is because you probably need help repairing or rebuilding your credit score. Secured credit cards are a great way to begin that task. One to four years of hard work should get you to the point where you can obtain most loans. If nothing is done, it may take 7 years for the bad credit to go away. You will need to be aggressive if you want to improve your credit score."
__________________________________________________________________________________________________________________________________________________________________________________________________________________________
Advantages of Secured Credit Cards
Consumers with poor credit can still aquire credit cards. There are options available; such as bank secured credit cards. They help repair credit, and are subject to bank accounts used as collateral.
Secured credit cards are great for anyone who has filed bankruptcy, has judgments on their credit reports, or has no credit history at all. Secured cards are proof to the bank that you are really trying to restore or gain good credit history, and that you are taking the steps for rebuilding. If you remain responsible each month, the bank may just issue you an unsecured credit.
The limit on a bank secured credit card is the amount of available money in your bank account. If you miss a payment, the bank takes it out of the checking or savings account. You should never let that happen!
Secured credit cards should be used responsibly. The interest fees can go up everytime a payment is missed. There are late fees, too. As long as you pay responsibly, then you won't need to worry about those extra charges.
If you are attempting to build or rebuild credit, you will find that a bank secured credit card is a great place to start. If you pay on time each month, these cards will turn into unsecured cards in the future.
"Questions You Should Ask Before Deciding on a Bank Secured Credit Card"
- Do you report to all three major credit bureaus? If the issuer doesn't report, you've lost a major benefit.
- How much interest will my deposit earn? Each banking institution can offer varying rates.
- How much money do I have to deposit? The amount will vary by the banking institution. Most require a minimum of a $300 deposit. Your credit limit will be the amount of your deposit.
- How long does it take to qualify for an unsecured credit card? This is decided upon by your banker.
- How can a secured credit card build my credit? Be sure to pay your bill on time and you will see your credit score rise.
__________________________________________________________________________________________________________________________________
Foreclosure and Your Credit History
A foreclosure won't ruin your credit rating forever. Having a foreclosure on your credit report will lower your credit score until you're able to re-establish good credit, which takes time.
Short of a bankruptcy, having a foreclosure on your credit report may be the longest lasting hurdle to a good credit score. It takes planning to re-establish your credit worthiness.
Using a secured credit card responsibly will help raise your credit score.
"Know the Facts About Your Credit Score"
A poor credit score is not a death sentence!!!
Your credit score changes constantly. Each time you pay a bill that payment is added to your credit history and calculated into a credit score. Payments made on time are going to help your credit score. Remember that a credit score is just a picture of your credit worthiness at a particular point in time.
Below you will find the Federal Trade Commission's website which offers tips on how to manage your credit history.
____________________________________________________________________________________________________________________________________________________________________
After Bankruptcy / Secured Credit Cards 
When a person has been discharged from bankruptcy, he/she is good credit risk because that person has no debt. Yet, after a discharged bankruptcy one often has a difficult time re-establishing a good credit score.
One option is to apply a for "secured credit card" . Using a secured credit card is a fast step to rebuilding your credit rating. The credit card company reports your payment history to the credit bureaus each month. As you make regular payments your credit history begins to look better, which raises your credit rating.
Credit not a factor No Income Requirements No Annual Fee $0 fraud liability Build good credit Free 24-hour online account access
Click Here To Apply for Your Secured Credit Card Today
We report to all 3 major credit bureaus.
