| SECURING
A CREDIT CARD
If you think you'll never again enjoy the convenience of
plastic because of bad credit, get a secured credit card.
Almost 2 million such cards are now in use; they look and
work like a regular Visa or MasterCard but require a security
deposit, which sets the card's limit. However, some issuers
offer much higher limits.
You can use the secured card as you would any credit card
as long as your monthly payment is on time. If you default,
the bank can use your deposit to cover the debt. By making
payments on time, you demonstrate ability to manage debt,
which helps to reestablish creditworthiness.
For more information, log on to www.consumer-action.org or
call (800) VISA-511 for a free copy of Knowledge Pays: A Guide
to Payment Products and Responsible Money Management.
COPYRIGHT 1999
Essence Communications, Inc. |
