• There are a few very good options to rebuild your credit. By obtaining credit that is attainable to those with poor credit and paying on time for an extended period of time, your credit will slowly be rebuilt to the point where you may be able to obtain a major credit card.

    Secured Credit Cards

    Obtain a secured credit card. These cards are backed by money you give to the credit card company. Usually, your credit limit is how much you send to secure the card. Most major credit card companies offer secured cards, as they are great for rebuilding a bad credit score. They report your on-time payments to the credit bureaus, so these types of cards can be very beneficial to help you rebuild any credit dings you may have picked up over the years.

    Gas Cards

    Apply for a gas card, as these finance options are great for helping you establish or rebuild credit after a bankruptcy or to raise your credit score when you have been irresponsible in the past. They are very easy to qualify for but do not have the weight of a major unsecured card. They usually have low credit limits but do report to the credit bureaus both positive and negative information, so as long as you pay on time you can rebuild your credit score over time.

    Store Cards

    Obtain a store-branded credit card. These are credit cards offered through the store for items purchased there. They are less strict when you apply, and they also report activity to credit bureaus. They often have higher-than-usual interest rates but can be a steppingstone to better credit. Apply online and you may even get a promotional incentive, such as no interest or payments for an extended time. Some store cards also give you money off your first purchase. Paying on time for an extended time can help you rebuild your credit.

    Bad-Credit Credit Cards

    Get a bad-credit credit card, which are available to those who have had credit problems in the past. Although on the surface they look appealing, they have fees and other charges that eat up most of the credit limit, and usually you are left with about $75 to $100 for charging and a remaining balance from fees that must be paid off over time. The advantage is that there is no upfront money or deposits needed as there are with a secured card. They report your paying activities to the credit bureaus as well, and they can increase your limit as time goes by.


    BCS Alliance: Secured Credit Cards

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