Secured Credit Cards * Rebuild Your Credit * Higher Scores * Report Scores * Report Credit Limits * Apply Online

CreditInfocenter.com - Call 877 933 6932 for an appointment or order

  Online Store
Personal Counseling
Credit Card Deals
FREE Debt Help
Free Credit Repair Kit
Credit FAQs
Debt Settlement Methods
Free Credit Reports
Budget & Save
Most Recent Articles
Good Credit Is Sexy Book

Credit Repair Workbook
Advertise
Order Status/Q's
Consumer Info
Debt Consolidation
Mortgage/Card Rates
Credit Score
Rebuilding Credit
Free Sample Letters
Dispute w/Original Creditor
Payday Loans
Free Credit Reports
Legal References
Statute of Limitations on Debt
Divorce
Debt validation
Chexsystems
Triple Advantage
 
Good Credit is Sexy
Our Privacy Policy
History of CreditInfocenter Bookmark the Site
Versión Española (Spanish)

The Poor Man's Guide to Suing Credit Bureaus and Collection Agencies
The Poor Man's Guide to Suing
Credit Bureaus and Collection Agencies - An Incredible Value at $10.95

Gas cards and department store cards are a good way to rebuild your credit if you are just starting out, but can be tough to get if your credit is already trashed. Also, these cards do not help your credit as much as a major credit card.

Major credit cards are scored higher than "finance cards" (usually a credit card which can only be used at the store who issues it, like Best Buy, Texaco cards, etc.) So how do you get a major credit card if your credit is trashed? Secured credit cards.

Traps to avoid in secured credit cards

Make sure the secured card you choose to help you rebuild your credit:
  • Reports the credit card limit you have (even if it's only $200).
  • DOESN'T report that the card is a secured card.
Reporting the balance

Credit scores take into account the total amount of credit available to you and the current balance you have on your cards. They use this to calculate your debt ratios which is:

Current Total Balances/Current Total Credit Limits = Debt Ratio.

If they are not able to do this calculation, they will just guess what the limit is and this is going to be your current credit card balance or 100% of your credit limit used. Remember in the credit scoring article, the scoring model likes to see 25% or less of your credit limit used.

Reporting that the credit line is secured

If you get a card which reports to the credit bureaus that it IS a secured card, your credit score will also take a hit, even if you are paying on time.

So what cards are good? Here is a list of the cards we recommend:

http://www.creditinfocenter.com/cards/selectACard.shtml

 

Do you have a question you feel we haven't answered?
For a small fee, you can talk to a counselor on the phone or Buy the Book!

 

Credit Repair Kit
Most Sites Charge Double Our Prices - This is a A Steal! The Kit Contains
Everything You Need to Set You On the Way to Good Credit!

 

»

Donations
debt validation
Current Forum Topics
» First Washington Mortgage ?  Go To Post
» Open Account?  Go To Post
» BK filing fee?  Go To Post
» Scared and confused..  Go To Post
 
Credit Cards.com
 
New Millennium Bank Secured Platinum
 
Most Recent Articles
» I've Been Sued For A Debt!  Read Article
» Kids Finance 101: Tips for Raising a Savings-Savvy Child  Read Article
» How to Settle Your Debts Yourself  Read Article
» I Don't Have the Time to Fix My Credit Myself  Read Article
» How To Save $500 In Time For Christmas  Read Article
 
Sign Up for the Newsletter
 
Auto Loans |  Bankruptcy |  Credit Repair |  Credit Rebuilding |  Credit Scoring |  Divorce |  Debt |  Featured Articles |  Identity Theft |  Privacy |  Mortgages

Site Map | Scam Alerts | Self Help Forms | Savings & Budgeting

Last modified - about an hour ago. :)

©1995-2008 Web Nation, Inc. all rights reserved.
Credit Info Center™ is a Web Nation® website.

Search Engine Optimization By: CyberMark International Inc.

 

Creditinfocenter.com