Financial

HOW SECURED CARDS IMPROVE YOUR CREDIT SCORE

Credit scores are indicators of the kind of borrowers we are. It does play a significant role in determining the acceptance of the application for getting loans, mortgages, and cars. It is also a crucial factor in determining one’s interest rate. They are calculated using credit history. The higher the scores, the better is it for the holder as they are seen as lower risk. It is merely a three (3) digit number that relates to how likely you are to repay debt. For you to have a credit score, you will need an account that’s been open for about least six (6) months if you are using FICO or one or two months if you are using a reputable website. An easy way to build or rebuild your credit score is through secured credit cards. ​SECURED CREDIT CARDS This is a special kind of credit card that requires an…

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