SECURING CREDIT

     The secret to getting reliable transportation is having a good foundation to base your credit on.  Many of us have poor or bad credit and others have no credit at all.  The operative word in building credit is BUILDING.  

Lay your foundation

     As I stated earlier, the first step is to clean up any errors on your report and pay or make payment arrangements for any judgement  on your report.  

     The next step is to show some good payment history on active lines of credit.  "I can't get credit" you say?  There may be a way .  

Secured Credit Cards

     Lenders that lend to "BAD" creditors look for things such as an open checking account in good standing, stability in your job and residence and other open well managed lines of credit.  If your credit score will not allow you to get a traditional credit card, a secured card may be an option.

What is a SECURED credit card?

     A secured credit card is a credit card that you SECURE with an amount of money deposited into a savings type account with the lender.  The lender will then grant you a balance based on the amount you deposit.  The lender is assured that you can not default on the credit because they have your security on deposit, and you get an open line of credit to use wisely to help build your credit score.

More about this in part two