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Question: I got a secured credit card when will i see my credit score improve?

(Posted by: ♫ I Got Myself a Sponsor ♫ on 2010-07-29 18:27:45)

I have not used the card yet but i'd like to know how soon it will take before i start seeing my credit score start to improve?

Posted by: Claris Veleta on 2010-07-29, 18:28:54

Try this site (i've used it): finsite3.notlong.com/ 5AAg5o6

Posted by: Judy on 2010-07-29, 18:30:11

When you use it make sure you replace all of it each month. No games. A secured loan will not improve your credit drastically. It is when this card turns into a credit card that you will see the improvement. Credit takes time to build - a lot of time. When it turns into a credit card - remember to pay in full each month. Carrying balances not only destroys scores - it can destroy your life. /

Posted by: Thunder on 2010-07-29, 18:41:12

Hi, It is a nice idea to use a secured credit card to build up your credit history or re-built a damaged one. Although a damaged one takes more time, but there are catches. If you want to build fast your score and credit rating do these: 1) Never have more than 2 credit cards. If you are starting with credit card and no company is giving to you; have a secured credit card and keep one. 2) Use up to 30% of your credit card limit for bills. Try to keep between 30%-35%. Lenders want to see if you are being responsible with your lending. For 3000K limit don't go over 1000K. Let's say you need at least 500$ because this is what you spend; Well than it is recommended fo you to have a secured credit card of $1500 3)Always try to pay in full your credit card bills, if you cannot: pay the minimum; NEVER forget to pay. If you forget to pay that will harm your credit score badly Do this for 6 - 12months and you will be able to get a credit card;