If you use a credit card carefully over several months you can improve your credit record.
Paying back what you borrow in time looks fine to financial companies even if you’ve had problems with debt in the past. They can then give you a better credit score when they check to your finances.
That will make it easier for you to get accepted for financial products such as credit cards, mortgages, and loans, and make sure you can get the best ones on the market.
They are credit cards which may accept your application even if you have bad credit or no credit history.
They generally come with lower credit limits and higher interest rates than other kinds of credit card, meaning you will need to use the card sensibly to rebuild your credit record.
You should show that you are a reliable customer by:
*All the time paying back what you spend each month in full when you get your bill
*Staying in your credit limit by keeping track of what you expend using online banking
*Avoiding cash withdrawals with your credit card
You may harm your credit record if you:
*Miss payments in your credit card
*Spend over your credit limit
*Apply to cards that reject you
*Get into very much debt