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How do I improve my credit score without having to put money down on a secured credit card?
My credit score is "poor" and I've been trying to get new credit card so I can start building a good credit history back up, but my score is too bad to get a credit card unless I pay an exorbitant fee or put down money on a secured card. I'm in school and I'm not making any money, so neither of those options sounds great. Any suggestions?
Asked by
murphyella
3 months ago
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what stood out to me is "i'm not making any money"....yet you want a credit card which you would have to pay off in order to improve your credit..... here are some options: 1) taking out a small loan from your local bank $1,000 for 1 year...and pay it off in 6 months...will cost you like $20 in interest but will establish some payment history on installment payments...I would also suggest taking it out and opening a 2nd checking account just for this purpose and putting the interest money in aheaad of time and have the bank take monthly payments out of it so you don't have to remeber to make them and you can't be tempeted too spend the money...but since you have no income you best choice of action is to wait unless you have a healthy savings then a secured card is the best route for you to go can only use how much you put on it and if you fail to pay then they take the funds as collateeral
jrhenry11 3 months ago