Change your Credit Rating :: Use a secured credit card

A poor credit history can be changed using a secured credit card

There are several ways to change your credit rating. Using a secured credit card is perhaps the quickest and easiest method. As you purchase items on this unique credit card your credit history is recorded and your credit rating improves!

How does my credit rating change?

A credit rating is a historical record of how you handle debt from a loan, a bill, a credit card or any personal financial transaction. If you have a habit of missing any of these payments your credit rating decreases. And if you make these payments on time - your credit rating increases.

How does a secured credit card help my credit rating?

As mentioned, any bill you pay or don't pay has an impact on your credit rating. This is also true with a credit card.

The difference with a secured credit card is that you do not need to pass a credit approval to obtain one. You 'secure' the available credit on the card with funds that you deposit. So each month you can spend up to the amount that you have deposited. This way you can never overspend your credit limit. And you never miss a payment.

The secured credit card looks and performs just like any other credit card. But now, as you use the card on a regular basis your credit history is recorded and your credit rating increases.

Copyright Paul Mark 2004
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