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czirpolo24

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24, husband, and father of 2 in need of some good advice.
i am 24 a husband and a father of 2, and back when i was young and dumb i dug a whole and put my credit in there and buried it. or so you could say. and now, a husband, a father, and holding a good job with my wife almost done with nursing school.. were looking at wanting to get a car, and maybe buy a house in the next couple of years. but its difficult to do either with a poor credit history. my wife has no credit established at all, and has no cards other then our BOA debit cards. i would REALLY like to have CREDIT CARD, not prepaid or any of those kinds of things.. to simply put gas in the car, get some groceries and things of that sort that i can pay back when i get a paid and can just pay it right back. i dont worry so much bout interest rates due to the fact its going to be more of a card to help build my credit and not buy out every store in the mall. ANY advice or help would be greatly appreciated.

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Credit Card

Hello,

First of all, you are not alone in this situation. If you have bad credit, and you can't get approved for a regular credut card, you will need a secured card (is not the same as prepaid). You can go to your bank or search in the web. They work like other credit cards, the only difference is that your starting limit is equal to the amount you give up front. That redudes the risk to the financial institution since you can not use more than what you provided. The advantage is that they do report to the different credit bureaus, therefore, good payment history will increase your credit for other things like purchasing a car or house. I have read that if you mantain a good history, the financial institution may give you back your deposit and convert it to a regular credit card. I am not an expert on this topic, but hope you can find it helpful.

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