Thread: Is a secured credit card a good idea for me?

Hi,

I recently graduated from university and got a job. As a student I had just one credit card with $300 limit. I have never paid late, but due to lack of information, have used my card up to and sometimes beyond the $300 credit limit. I think, the only reason for my score to be low. Around 636. I have just 2 years of credit history with no loans. I have leased a car and do make payments regularly from past 3 months.

Now that I have a job, I am confident of my income. Should I wait or would it be a good idea to apply for a secured credit card now to improve my score? Will it help if I wait and have some savings in account to get unsecured card offers from my bank?

Thanks for any replies

Public Savings Bank is a reputable and respected bank who offers a very consumer friendly secured credit card. The Open Sky Secured Visa® Credit Card is a great product to help you achieve all of your financial goals. Whether you are trying to rebuild credit or establish credit for the first time, the Open Sky secured card is an excellent option to help build a positive financial future. If you’re looking to build credit and proactively trying to manage your credit score, Public Savings Bank’s secured card is easy to use and accepted everywhere. There is no credit check or checking account required and reports to all 3 major credit bureaus. CreditCardForum is a sponsored advertiser of this card.