Q & A
Secured Credit Cards
Hi Gail, I watch your show 'Til Debt Do Us Part
EVERY DAY. My question is what is the best way to do the jars is and
is it a good idea to get a loan to pay off several old bills? Also how
to establish credit? (I own no credit cards, and have no credit ever
established), with that last question do the secure cards such as the
ones from Capital One, where they say give us $300 and we give you $300
credit actually help??? Thanks so much
Courtney
Use Gail’s Interactive Budget for the jars.
Getting a loan to pay off your old bills will help you on your way to
establishing a credit rating, though if you have old outstanding bills,
that may negatively affect your credit history – and your ability to
get the loan.
The secured credit card is a good idea. Make sure you stay current with
your payments or it can end up doing more harm than good.