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No Credit? Use a Secured Credit Card to Achieve a Good Credit Score

A good credit score isn’t something you achieve overnight. It takes hard work, dedication, and a sound financial approach to take your score to new heights. If you have little to no credit history, it’s common to become frustrated with your situation. No matter how hard you try, you can’t seem to make as much progress as you would like.

For example, you may struggle to obtain an unsecured credit card. After all, credit card issuers typically want to do business with consumers who have a good or excellent score. While slow and steady wins the race, there are some steps you can take to pick up the pace. A secured credit card is one of the best places to start.

Here’s why:

  • Designed for consumers with no credit: You don’t need a strong and deep credit history to qualify for a secured credit card. As long as you have enough money for the security deposit, you shouldn’t have any problem securing this type of credit card. 
  • Opportunity to increase your credit score: Forget about the fact that you had to put up money to obtain a secured credit card. Now, it’s all about using your card, paying your balance in full and on time, and watching the positive impact on your credit score. Tip: make sure the issuer you choose reports your credit history to all three major bureaus. If they don’t, it won’t have any impact on your credit score. 
  • Financial flexibility: While you’re using your secured credit card to build a good credit score, it also provides financial flexibility. For instance, you can use it to make online payments and purchases. It’s also nice to have nearby in the event of an emergency, such as if your car is in desperate need of an immediate repair.
  • Spending cap to keep you on track: Your security deposit acts as your credit limit, which helps avoid a situation in which you overspend and rack up a large amount of debt. 

How Long Will it Take to Achieve a High Credit Score?

It goes without saying that you want to achieve a high credit score as soon as possible. This will bring many benefits to your life, such as the ability to secure the lowest possible interest rate on various types of loans. 

Rather than be in a rush, exercise some patience as you make all the right financial decisions. After one year of responsibly using a secured credit card, check your credit history and credit score. From there, find and apply for an unsecured credit card that suits your requirements.


Remember this : everyone starts in the same place in regards to his or her credit history and score. 

It’ll take time to achieve a good credit score, but you have what it takes to make it happen. With the help of a secured credit card, you’ll find yourself on the right path! 

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