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jhose · Joined: 10 Jun 2009 Posts: 1 0.16 Dollars($)

Do these types of credit cards help build credit? are they reported on a monthly basis? thanks.

Garysnober · Joined: 17 Mar 2009 Posts: 450 15.29 Dollars($)

HI jhose, Yes these cards do help build credit and are a good place to start building credit. Yes these cards are reported just like any other credit card on a monthly basis.

smithsussane · Posted: Wed Jun 10, 2009 7:59 pm Post subject:

Hi jhose!

Welcome to forums!

Secured credit cards are a great way of building your credit score. As Gary has informed you, payments on these credit cards are reported on a monthly basis. Are you planning to improve your credit score? In that case, you can check out the following page:
http://www.mortgagefit.com/credit-rating/credit-repair.html

You'll find a number of simple steps to improve your credit score in that page.

Feel free to ask if you have further queries.

Sussane

gmakerley · Posted: Thu Jun 11, 2009 8:48 am Post subject:

jhose, please seek such a card from a local bank or credit union. do not seek them out online from the companies that tout them there. you'll find that the major banks that do these cards on a national basis will charge exorbitant fees that will put you at or very close to your credit limit almost immediately.

better to do business with someone local who has a feel for you, a feel for their customers and a bit of compassion.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

jhose

Welcome to the forum.

The moment the word credit comes in to pircure, it is safe to make assumptiosn that, this data will be reflected on your credit report.

Some poitns to remember when you are plaiing to build your credit.

This what yoru credit report is based on:

35% is based on payment history
30% Amount you owed
15% length of history
10% New credit
10% on types of credit

So pay attnetion to the first two intially and tehn work on the rest slowly.

Good luck and feel free to ask

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