Three "Shocking" Ways a Credit Card for Bad Credit Can Boost your Credit
The last thing that many individuals consider after going through tough times that damage or even destroy their credit is the fact that credit cards for bad credit can actually improve their credit score.
Joe had filed Bankruptcy, been foreclosed on and even had two cars repossessed, him and his wife two boys would have been homeless if they did not have family that allowed them to move into their basement. The last thing on his mind was trying to rebuild his credit, but here are three shocking reasons why it should have been the first thing on his mind. You can watch a video of Joe telling the whole story of how he rebuilt his credit here Credit Cards For Bad Credit Video
- The sooner you get a new credit card the better. You want to start establishing new good credit immediately after going through a financial disaster to start rebuilding your credit for the future.
- Your new credit card will give you leverage to even better lines of credit in the future like car loans and even mortgages. Obviously after Joe’s repossession and foreclosure he could not get any type of loan but after working on reestablishing his credit with credit cards it increased his credit score to where he could actually shop for a loan at a credit union.
- Credit Cards For Bad Credit create new trade lines that are in good standing. Most mortgages for a home require you to have at least 3 trade lines. Of course a credit card for bad credit is considered a trade line and even though Joe was not planning or even thinking about buying a house right after he was foreclosed on but the point is that you start building your credit right away so when you get to where you want to think about buying a home your credit will be improved enough to get a mortgage. If you realize that you need a credit card due to your bad credit then you can compare the credit cards for bad credit here Credit Cards For Bad Credit
About the Author: Joe McClain from Heath Ohio has written a Kindle eGuide Credit Cards For Bad Credit eGuide
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