Of the two choices, you're better off using a secured card. The last thing you need while rebuilding your credit is to pay off debt at a high interest rate. But it is essential that you choose a secured card that reports to the credit bureaus. Otherwise, your timely payments will not go towards rebuilding your credit.
- I am looking to establish good credit so I can buy a home for my family. What kind of credit card should I start out with?
- I'm a 22-year-old female who makes about $1,000 a month. I have a credit union credit card with credit line of $500. I recently applied for a Lowe's credit card and was denied. I'm always on time with my credit card payments. What would be the reason?
- I am an 18-year-old with no credit history. I have read Curtis Arnold's book and am successfully paying my community college tuition on my own. Which card is best suited for me when I only plan on using my future card for gas purchases?