How To Raise Your Credit Score Using A Secure Card http://www.kingwoodmortgageguys.com
Mike explains in detail how to use a secure credit card to raise your credit score. Mike notes the biggest challenge is knowing how the credit bureau's scores are calculated. Most people have no idea how scores are calculated, thus they do not know what to do to get their scores back in a positive range.
What to do if you have avoided credit the last couple years
This is a good strategy if you had a financial trauma, and your credit scores
have been damaged.
1) Simply, get a secured credit card, better to get two. These are credit cards that credit unions and small banks allow you to open when otherwise you might not be able to open an account.
2) Here's what you do, put $500 bucks into one of their savings accounts.
3) You ask them if they will issue a credit card using the money in your saving account as collateral.
4) Make sure that they will report it to the credit bureaus. (Don't forget to ask them this question, it is critical!).
5) Use the credit card for gas or some small expense items that you would otherwise use cash for.
6) Never let your balance go over $150, or 30% of your limit.
7) When the bill comes in, pay it immediately. (Leave a small balance, do not pay off to zero).
By using the card and paying the balance immediately, after 60 days your scores will start to move up.
The longer time you follow this method, the higher your score will go.
We can get you a loan when your score reaches 600, but the real goal is 640 because the
interest rate will be much better.
Feel free to call me if you have any questions about this 7 point plan to get your scores up.
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Kingwood, TX. 77339
Where You Can Get A Secure Card - click link below... http://www.creditcardbroker.com/membe... (I do get a affiliate commission when you get a card through this link)