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Question By
MamaElex

2 Contributions
1 Person Helped
Is getting a secured credit card worth it to boost your credit?!?!
I have a score of 541 and CK suggested that I get a secured credit card. I was wondering if it really is worth it or not. I do not want to end up being stuck with an interest rate of 22% if I dont have to. If there is another way to raise my credit than someone please help me figure it out. I have made plenty of mistakes in my life I do NOT want this to be one of them.

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Secure Credit Cards are worth it.

Why are you worried about the Interest rate?   If you plan to pay off your Credit Card balance in Full each much you have a Intrest rate of 0%.   I look at the 14 Credit Cards I have as having an intrest rate of 0 as I always pay them off in full each month.  ( yes I have 14 CC's and all but one are tucked away in safe )  

It all comes back to when you are going to purchase something with your CC.  Do you have the money to pay the balance in full when you get the statement?  If you don't don't then you don't need to use the CC.

Good Luck

Reply by
MamaElex

2 Contributions
1 Person Helped

Well thank you for your answer and advice. I was not looking at it that way at all. I will go ahead and get one then. Thank you very much, I really aperciate it.

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