Most people with bad credit that are looking for away to boost their credit scores often ask will getting a secured credit card improve credit score fast? The answer to that question is that yes a secured credit card will boost your credit score quickly but only when certain conditions are met!

Secured Credit Card Tip #1

The biggest thing about a new secured credit card is that you have to use it responsibly and like a tool to rebuild your credit and not a reason to go out and buy things you do not need. As a rule of thumb if you use it for small purchases and pay it off every month you should be okay. However if you must carry a balance make sure to not let the balance exceed 40% of the limit as it can reduce your credit scores.

Secured Credit Card Tip #2

Another very critical part of using a secured credit card to rebuild your credit rating is to make sure you pay on time all the time. If you make one late payment you have damaged your credit for the next 12 months. Keep in mind by late I mean 30 days late or more, most credit card companies allow you to be a few days late with out any ill effect other then a late fee but once you hit 30 days late you will be reported to the credit bureaus.

Secured Credit Card Tip #3

This is probably the most important tip of them all when it comes to secured credit cards. This would be to make sure you Apply For a Secured Credit Card that actually reports to the major credit bureaus. You would think they all would do this but many of them do not and only function as a pre paid debit card. So whenever you apply for a secured credit card make sure to ask the lender if they do in fact report to the credit bureaus every month, if not move onto another lender.

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