Update on the Secured Credit Card

About a month ago I told everyone about the secured credit card that I had applied for. I was approved for the card, but I had to put the $200 deposit. I have not been able to come up with that amount because of my hours being cut so drastically at work. Well I will have the $200 at the beginning of November. I will have it because of my online earnings. I have chosen not to spend any of my online income, so I will have well over $200 in my Paypal account the beginning of November. I feel great knowing that I do have some money coming in every month from something that I have not put a lot of work into the last few months.

As of November I will have the secured credit card and will be able to tell everyone how much it affects my credit a few months after that. I am actually very excited to get the secured credit card, because it is a start on my credit repair process.

My At Home Income Blog

Secured Credit Cards

I have been looking into a variety of different ways to improve my credit. I have not gotten my score recently, but I am sure it is well below 500. This is because I have not been focused on it for one reason or another. I do not have a lot of bad things on my credit report, but I do not have resent positives either.

To have a better credit score you need current positive items. This is why I have been looking into secured credit cards. These cards allow you to put money down on a credit card, pay payments as with any other credit card, and they do report it to the credit bureaus.

Today I did a look on Google and found a few cards that interested me. I chose the Capital One Secured Credit Card. For me it seemed to be the best option. There is also a list of different secured credit cards on Credit.com. The application process took about five minutes, and was very easy. They also allow you to pay your security deposit over time. I will probably be putting my deposit within the next couple of weeks.

I am hoping that this secured credit card is going to be the beginning of me building my credit again. I am sure it will take more than just this, but it is a start.