Immediate credit card care service
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I have no credit card at all |
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Date:
February 16, 2007, 10:48 pm |
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I have no credit card at all |
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Answer:
Basically there are two variants of establishing credit history: with co-signer credit cards and secured credit cards. In the first variant you can ask a good credit person (it can be your friend or relative) to become your co-signer, while you will be signed up as a co-borrower of the credit card. You’ll have different credit cards with different numbers, but the credit account and credit limit will be one. Your co-signer guarantees, that your credit will be paid off in full and on time.
In the second variant, when you get a secured credit card, a guarantor of your payment is a bank deposit, which you make to cover the bank’s risks with the credit. The credit limit you obtain is equal to the amount of the deposit. If you pay off the debt in full and on time, you will increase your credit score and an unsecured credit card will be available to you. |
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