Don't Have A Credit Card?

Question:

My husband and I have no credit at all. We cant get loans for jack Someone suggested we try to apply for secured credit card…Ok How do they work? And what is the best way to use it to build credit? Please explain like I am a child because I don’t understand any of it…we just want to get a good credit so we can save for a new car or house.

Also I was reading that one “offering interest free purchases for the first 6 months”.  Does that mean no intrest as long as I pay my monthly balance? Or does it mean in 6 months, I will start to be charged intrest?

What is a good intrest rate?

Say that I put $ 200 on the card, Should I use and pay off all $ 200 of it immediatley? Or should I let a few dollars sit so I don’t have a balance of ZERO?

Answer:

1. You don’t have to wait to get a secured card so you can save. Start saving now!
2. Interest-free for 6 months means you won’t be charged interest for 6 months after the account is opened. After 6 months they will start charging interest.
3. Use the card to buy things like gas and then pay it off as soon as you get the bill. That way it won’t accrue interest, even after that 6 month period you mentioned. There is always a 1 month grace period in which you are not charged interest.

Click here to sign up for a secured credit card. There are NO credit checks.