Can A Credit Card For Bad Credit Really Help Your Credit Score?

I had filed Bankruptcy, been foreclosed on and even had my two cars repossessed, my wife two boys and I would have been homeless if we did not have family that allowed us to move into their basement! The last thing on my mind was trying to rebuild my credit but shocking fact number one is it should have been the first thing on my mind. The reason why is that after filing Bankruptcy or going through a financial disaster in general that tanks your credit, it is best to start immediately to establish new good credit. The way to look at is the damage has been done to your credit it is time to start over. You can’t do anything about the past but you can start immediately to build the future. The new credit line in my case was a secured credit card since my credit was so bad. This new credit line was increasing my credit score every month that I made my payment on time, kept the balance less than %30 and used it responsibly.

I admit it took me a little time to get my head on straight and apply for new credit but when I did I now had a credit line that was in good standing. You can watch a video that has me telling the whole story of how I rebuilt my credit at http://www.youtube.com/watch?v=OY2j8CR5Kvo that credit card now gives you leverage to get other new credit lines like a car loan. In my case I was not shopping for a car loan at a credit union but It was a car loan none the less and they saw that I had established good new credit so the second point I want to make in this article is that a Credit Card for Bad Credit can help you get other new lines of credit like a car loan.

The third thing that you might not realize is that some if not most mortgages for a home requires you to have at least 3 trade lines. Of course a credit card for bad credit is considered a trade line and even though I was not planning or even thinking about buying a house but the point is that you start building your credit right away so when you get to the point where you want to think about buying a house your credit will be improved enough to get a mortgage.

If you are not sure where to start but you realize that you need a credit card due to your bad credit then you can check out the credit cards that are listed on my blog, they are set up so you can click on them and apply online and in some cases be approved instantly. You can find my blog here http://www.CreditCardsForBadCreditNotBadPeople.com/

About the Author: Joe McClain from Heath Ohio has written a Kindle eGuide titled Credit Cards for People with Bad Credit the eGuide can be found at Amazon http://www.amazon.com/Credit-Cards-Rebuild-With-ebook/dp/B0071CGVZ8/

Contact
Author: Joe McClain
Company: Cloud Technology Systems, Inc