Hi there! if you are thinking of buying your first home and need a bit of help on how to increase your credit scores, a secure credit card may be the answer. This is one of the most successful ways I have helped clients to increase their credit scores when they have limited or no credit history, bad (580) or fair credit (580-669).
Applying is easy. Complete your application online and wait for a decision. this can be less than 5 minutes or a few days. Once approved, you card will be activate after your security deposit is paid. Security deposit amount will depend on the issuing bank.
Once you obtain the card, a great rule of thumb is to use no more than 30% of the card balance. For example, if the security deposit limit is $300, you should use no more than $90 at any time. Once you receive the bill, you should pay at least $70 -$80. Never pay the entire balance.
Because you are trying to build your credit, it is not advisable to pay the entire balance. Always pay more than required, leaving about $10-$20. In addition, always make sure to pay your bill on time. Missing even one payment, or paying late will do far more harm than imagine. Here a few more things to know about secure credit cards:
If it matters to you, it matters to us. We are always looking out for your best interest. As always, thank you so much for stopping by, and remember, if you are thinking of purchasing your new home, or selling an existing one, please give us a call. We are here to help. We have been helping home buyers and sellers 12 years and counting. Until next time...Diana
Image by Diana Walton
Astor & Eaton Realty
Diana Walton
Real Estate Broker
713.208.8013
Write to Diana Walton at homes@astoreaton.com
https://www.har.com/dianawalton
We do more because we care more