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Should I use secured credit cards to build credit? - Queer Money Ep. 214
Description
Full show notes and our favorite secured cards here: https://debtfreeguys.com/secured-credit-cards-bad-credit/
Let’s say you’re paying off a significant amount of credit card debt with the help of a debt settlement company, and you’re looking for ways to improve your credit score. Is it a good idea to apply for a secured credit card?
On this episode of Queer Money, we’re explaining how secured credit cards work and what you need to think about BEFORE you apply for one. We discuss the top three factors that impact your credit score, weighing in on just how much payment history, credit mix and credit utilization matter.
We walk you through three important questions to ask yourself before you get a secured credit card, exploring the habits you need to put in place to make good decisions. Listen in to understand how garnishment works (and how it applies to the deposit on a secured credit card) and find out if a secured credit card might help YOU build your credit score.
Mentioned in this episode:
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