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I want to raise my score to near perfect or at least into good standing. Will a Secure Card help me?
Asked by
pwisman1988
1 year ago
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Any line of credit that you maintain in good standing helps to improve your score. For revolving credit, you do need to utilize it to truly help.
A secured credit card is a credit card that happens to have collateral that you put up that is attached to it, so if you default, the bank has recourse to collect. The collateral for this is typically a savings account through that lender.
phnxangell 1 year ago