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Question By
bererica

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How do I fix my credit when no one is willing to extend credit to me?
I've consolidated by debts and am paying on them monthly but haven't had anything new credit extended to me in 2 yrs. How will my credit improve at this rate?

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6 Contributions
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Capital One Secured Card.

Helpful to 1 out of 1 people

Capital One offers a really great secured card program. Apply, be approved (I got approved with a score of 571) send in a deposit of $49, $99, or $200 (depending on your creditworthiness - mine was $200). Use each month, but no more than 30% of your total limit, and pay off the balance each month.

Do this for 6 months to 1 year. Once you have created a base of timely payments, you can either ask to have your credit limit increased, or apply for an unsecured credit card. I would reccommend leaving your secured card open though, as you need credit history to keep a good score. If you close your oldest account, your history looks shorter and that isn't good for your score.

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