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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: First time credit, how does one get it? Date:  3/23/2011  11:01 PM
Author:  ishtarastarte Number:  301500 of 312799

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.

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