Unsecured Credit Cards To Rebuild Credit No Deposit

Unsecured Credit Cards To Rebuild Credit No Deposit

With mortgage interest rates below 4%, auto loan rates as low as 0%, and 0% balance transfer credit card offers–now is a good time to be on the buyer’s side of the credit equation.

Unsecured Credit Cards To Rebuild Credit No Deposit

The challenge many people face when pursuing these historically low interest rates is their credit quality. Those aforementioned deals are usually reserved for people that have great credit.

Unsecured Credit Cards To Rebuild Credit No Deposit

This week I received a question from a Minter regarding one commonly referenced method of building and rebuilding your credit: the secured credit card.

Unsecured Credit Cards To Rebuild Credit No Deposit

Question: “John, I’m 23 and when I was in college I did what a lot of college students do. I got into credit card debt and defaulted on a couple of credit cards. Now I have collections on my credit reports and my credit scores aren’t good at all.

Unsecured Credit Cards To Rebuild Credit No Deposit

I’d like to buy a car, but I’ve been quoted between 17% and 22% from different lenders. That’s pretty terrible, so I’m going to wait to buy a car. I’ve read that I can use a secured credit card to rebuild my credit score.

Unsecured Credit Cards To Rebuild Credit No Deposit

http://www.mint.com/blog/credit/can-you-really-use-a-secured-card-to-rebuild-your-credit-0313/

Unsecured Credit Cards To Rebuild Credit No Deposit