Here’s how a low-limit credit card can help you improve your credit score.
If you have bad credit, oftentimes your lender will tell you that you need to reestablish new credit with a low-limit card. It could be a card with a limit of just a few hundred dollars. By keeping your balance at around 30% or less and making regular payments, you can slowly increase your credit score over time and move up the ladder.
A higher credit score will help you secure the home you want at a great rate. Low-limit cards have helped a lot of our clients re-establish their credit and get their financial health back up to par to qualify for a home loan.
If you have any questions about how this process works, don’t hesitate to reach out to me via phone or email today. I look forward to hearing from you soon.