Hack: Use Secured Credit Cards To Build A Credit Rating

November 06, 2020 by Dan Green

When you turn 18, you can apply for a secured credit card. And, you should.

The earlier you start building your credit, the better your credit score can be when you’re ready to buy a car, buy a home, or start a business.

There are other reasons to have a good credit score, too.

  • High credit scores can lower your auto insurance rates
  • High credit scores can reduce your security deposit on an apartment
  • High credit scores can cheapen the payment plans on a cell phone

Additionally, when you’re ready to buy a house, having high credit scores gets you access to cheaper Mortgage Rate and more flexible options. You can also make a smaller Down Payment when your credit scores are high.

The money you save by having a high credit score can fund your vacations, pay for cool experiences, and can even fund your retirement.

It’s smart to build credit in your own name. When you turn 18, apply for a secured credit card.

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