A New Start
Apr 06 '00 (Updated Apr 12 '00)
I received a secured visa from my credit union. Yes, I only had a $500 limit. I had to keep $25.00 in it untouched at all times. I paid off my account each month for a year.
I was given a chance to prove myself financially responsible. After one year, I was given an unsecured visa from this same credit union with the same limit. Again I paid off my bills each month. After one year, I was given a classic visa and an increased limit of $1000. I continue to make my payments every month.
If I had not paid every month, there would have been penalties. There is a late fee of $10 each month if the minimum due is not paid. I am happy I started with this secured credit visa. It has helped me to establish my own credit. I am a divorced and had always had every credit card as a joint account. I think everyone should try to establish his/her own credit and this is one way do it. The interest rate is 12.900% a year.
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Epinions.com ID:
ritz49
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Location: Minnesota
Reviews written: 54
Trusted by: 5 members
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