Secured Credit Cards have many advantages for someone who does not have any credit, or someone with challenged credit. It is hard to do a lot of things without credit cards. In this article I will discuss why you need credit, and if you don’t have credit or your credit is challenged, how secure credit cards will benefit you.Establish good creditOne of the hardest challenges is to get a creditor to extend credit to someone that has no credit. There was a trick used for years, and that trick was having a family member ad you to there credit card as an authorized user. Recently the FICO® score model was changed because of the fraudulent use of selling authorized user accounts by credit repair companies. This motivated Fair Isaac to change there FICO® score model. So if you are added to a credit account as an authorized user, this can hurt your credit score. This loophole has been closed. The best way to get started in the credit building process or the credit rebuilding process is too get a secure credit card. Secure credit cards require a deposit into a designated account by the credit card company. This is the […]

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