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At best, you might think of it as a frenemy.
However, not all credit cards are created equal.
A secured credit card might just be the right tool that enables you to rebuild your credit.
Some banks offer secured credit cards, said Dawn-Marie Joseph, founder ofEstate Planning & Preservation.
These types of cards can be used against a balance you have in that bank.
It is essentially borrowing from yourself, but with a credit card.
Using a credit card with this account can help with your credit score.
And before you know it, youre behind on key bills and your credit score has taken a hit.
You cant stop life from happening.
The aptly-named credit builder loan, or installment loan, can be a conduit toward better credit.
It acts as a way to buildcredit and savings, less any loan fees and interest charges.
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