Credit Builder Credit Cards - What Are They?
It's like a top-secret mission: building good credit requires credit builder credit cards, but how to apply for one remains a mystery to some. Applying for these cards is easy, especially for college students. 76% of students reported in a study conducted by the U.S. Public Interest Research Group that credit cards were marketed to them either on or near their college campus. So for those looking to get bigger loans down the road, for a house, or a car, they will have to establish credit. The best way to do this is to knuckle under and apply for a credit card. Why? Credit Builder Cards- Why? Credit Builder Cards will help place information on a credit report so lenders will know how much of a risk a person is before deciding to extend credit. Yet about 15% of all applications are rejected for lack of credit. Those 15% will likely have to get a secured card; the remainder can get one unsecured. Credit Is Easing! Good news! According to Equifax, around 15 million new cards were issu...