Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012
Re: Secured Loan

cam2103 wrote:

Thanks for the clarification. So, in your opnion I would be better served by increasing the credit limit on my secured card with the cash I was going to use for the secured loan?


I think that is a better option than getting a secured loan.

 

And perhaps looking into an unsecured CC.

 

I would like to add tho, rebuilding can take time.  Some ppl rush into getting CCs and loans and what not thinking it will help only to find out later down the road that only modest increases to the credit score happened.

 

Always research the options that are out there, get credit that is needed--not wanted, and have patience.