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Credit Repair Secured Credit Cards



Getting a loan for a home requires a good credit score, but what if you don't have a credit score.  It's not that you have bad credit but you have no credit. Then often what is suggested is to get a secured credit card.
 
Here you give the credit card company $300 and they give you a $300 credit card.  This is not a prepaid card, it is a credit card that reports to the credit bureaus.  Now once the account is settled you can get that money back, but for now it secures the card.
Once you get the card, there are rules. One, don't go above 50% of the card limit, this can then become a negative on your credit. Two, make payments on time, this should be obvious but very important to remember. And three, try to leave a balance on it at all times.  This helps the credit bureaus see that you are managing debt.
 
Once you have the card, be sure to use it.  Scores can go up quickly and you may be in a home faster than you think.
 
For more information go to www.UtahStart.com and apply for your secured card. Or if there are any questions we can help answer, just let us know.

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