Using Secured Credit Cards To Rebuild Credit - How Fast Will My Credit Score Increase With a Secured Credit Card

Posted: Jun 02, 2010 |Comments: 0 |

How fast will my credit score increase with a secured credit card? This is a good question that cannot be answered the same way for each person. While it is true a secured credit card can help to boost your credit score there are certain things that you have to do  to make sure you get the maximum benefit from it. Failure to do these things will result in your scores not increasing and your progress stalling.

How To Use Pre Paid Charge Cards To Rebuild Credit Effectively


You need to make sure that you apply for a secured credit card that actually reports each and every month to the major credit score reporting bureaus. Many of these cards on the market actually do not report, or offer reporting as a service you must pay for.. A good reputable lender however will report each month free of charge.

Here Is a Secured Credit Card That Reports To The Bureaus Every Month

You must also make every effort to make sure you use your card wisely. Many people have the intention of being responsible with their cards but often end up making the same mistakes they made in the past and over spending and winding up with more debt and lower FICO scores. The best way to get around this is to use the card for one or two small purchases every month then pay it off in full.

Here Is a Secured Credit Card That Will Help Rebuild Your Credit

You must also make every effort to pay the bill on time every month without missing a payment. If you miss a payment you risk damaging your FICO score further. And any negative marks you get by paying late will remain on your credit report for 12 months so it is in your best interest to make sure the bill gets paid in a timely manner. One of the best ways to make sure this never happens to you is to enroll in an automatic bill pay service either through the lender or a third party

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