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How To Build Credit 
With A Secured Credit Card

If you’re dealing with bad credit, you’ve probably wondered, “How can I build credit fast?” While there’s no magic fix, a secured credit card can be a powerful tool to help build your credit.¹ But getting the card is just the beginning – the key to building credit is using it responsibly. Whether you’re looking to establish new credit with a secured credit card, or are trying to repair your credit score quickly, these five essential steps can help.  

1. Choose the Right Secured Credit Card

A secured credit card will only help to build your credit if the card issuer reports your payment activity to the credit bureaus. First Latitude has you covered here, and reports to all three major bureaus. 

2. Make Your Deposit and Pay Any Fees

Secured credit cards are different from other credit cards in that they require a security deposit, which usually determines your credit limit. Your card account won’t be active until you make this deposit and pay any initial fees, so remember to do this quickly after you’re approved. 

3. Pay On Time, Every Time

Paying your credit card bill on time is one of the most important ways to establish a positive credit history and build your credit.¹ Your payment history makes up around 35% of your score, and a single late payment will stay on your credit report for seven years.² 

4. Keep Credit Utilization Low

Credit utilization – the ratio of your credit card balance to your credit limit – is an important factor that contributes to your credit score. Keep this number below 30% for the best impact on 

your score.²  

5. Pay Your Balance in Full

It’s not just about avoiding interest charges – paying your balance in full each month can also improve your credit score.² 

If you’re struggling to get approved for a credit card or have bad credit, a secured credit card may be the answer. By adopting these strategies, you can make the most of your secured credit card and build your credit.¹ But remember, it’s not the card itself that does the work – it’s your consistent, responsible use of the card that will help you build credit.¹

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