If you suffer from poor credit or possibly simply from too little credit history you know how difficult it could be to get approved for a new credit card. This can easily be a catch 22 since one of the most important factors in building credit history involves timely payments on your credit cards.
A good solution you may have overlooked is signing up for a secured credit card. With Secured Credit Cards you typically are required to deposit a sum with the issuer and are granted a credit line based on this deposit. You are then required to make regular payments just as you would with any credit card while the issuing bank has a guarantee should you miss payments.
Taking out a secured credit card and making sure to maintain timely payments can be the fastest way to build up your credit score.
