Re: Is there an unsecured card for a low to mid 500 credit score?[ Edited ]
04-15-2012 06:25 AM - edited 04-15-2012 06:27 AM
I would do as another poster has mentioned; find a local credit union that you can join and talk to them about opening a secured loan and/or a secured credit card. Secured loans are a great way to build good payment history and it doesn't cost much money as they immediately give you back your deposit as a loan. You just have to be able to make the monthly payment. Its also a great way to make you save because at the end of your loan repayment you end up with a fully matured certificate of deposit that you can then continue to build on or cash out and use for something. I did this in 2007 and ended up increasing my score by 50 points in one year. I qualified for an Fha loan the following spring.
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