Other Options Than a Secured Credit Card For Poor Credit?
There are other options to consider when try to reestablish or establish good credit some of which are alternatives to getting a secured credit card.
Having perfect or close to perfect credit is very important if you thinking about purchasing a new car or a new home. Without perfect or close to perfect credit you won’t get a chance to purchase a brand new car nor get approved for a home loan.
If you are like the 45% who has bad or no credit at all then you should consider looking for a credit card that will allow you to build or rebuild your credit score when making payments on time. These credit cards aren’t hard to find and best of all aren’t secured credit lines.
“Get an Unsecure Credit card such as First Premier Bank Credit Card”
First Premier Bank Credit Card requires you to have a checking account and you will have to pay a processing fee which will be taken from your $300 credit limit. If you choose this credit card, you will have the ability to rebuild your credit history when paying your minimum payments on time each month.
This credit card is also issued by FDIC-insured First Premier Bank enabling you to stay covered when fraudulent activity occurs on your account. The best thing about this credit card is that it reports to major Consumer Reporting Agencies monthly.
“Visit a credit Union”
You don’t necessarily have to apply for a credit card to establish or reestablish your credit. You can go apply for a loan at your local credit union. Just like commercial banks, Credit Unions are similar when it comes to terms of services.
They are nonprofit institutions and pass their earnings along to their members in the form of lower fees and borrowing costs. When searching for a Credit Union to work with you, you should find one that you have something in common with. For instance, if you are a veteran, approach the Navy Federal Credit Union!