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Personal Finances / Credit Cards and Consumer Debt

URL:  https://boards.fool.com/since-you-have-savings-you-may-consider-getting-a-29191708.aspx

Subject:  Re: First time credit, how does one get it? Date:  3/23/2011  11:01 PM
Author:  ishtarastarte Number:  301500 of 312650

Since you have savings, you may consider getting a secured card or a secured loan.

You promise to keep an amount, say $500, in a savings account, and the bank/credit union then gives you a card or an installment loan for the same amount. You pay it off in a timely manner, and you now have good credit.



Ishtar
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