Will secured credit cards build credit history?

Question by deedee: Will secured credit cards build credit history?
How long would it take if I used this method to build my credit history? Will I be eligible for regular credit cards if after this? Im trying to build my credit up and fast! I have no credit history right now.

Best answer:

Answer by Frank
Yes, they will, if you pay on time. Don’t pay late. Don’t pay late.

And don’t think that using them more will make youre credit better. Your credit report shows the number of times you paid late, the amount you currently owe, and the maximum you ever owed on that account.

If you use the card one month and then pay it off and stick it in a drawer for 11 months, that will look exactly the same one your credit report as if you used the card every month for 12 months and never paid late. So don’t fool yourself into buying more stuff to help your credit, because it won’t make a bit of difference.

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