How to Establish New Credit If You Have Bad Or No Credit – Secured Credit Card

If you have bad credit, or perhaps little to no credit history, a loan officer or credit advisor might recommend that you start establishing some new credit lines. By establishing an on-time credit history, you’ll be able to slowly increase your credit score over time, which will help you to qualify for a home loan with a good interest rate in the future.

But what happens if your credit is so bad that no one will issue you a credit card? In that case, you should apply for a secured credit card. In this video, Mike explains what a secured credit card is and how it can help you to establish new credit.