7 Bank Secured Credit Card, really difficult?
I applied to several banks for a credit card but had no luck so i
applied for a secured card. Don't know if my application would be
approved yet (read somewhere that there are still chances of turn
downs). Im new in the US and have 0 credit history. I went to some car
dealers and applied for a car loan. One of them is giving me 12.25%
interest rate for 5 years. I don't know if I should go for it to help
establish my credit and refinance it after a year or just use the
downpayment to get an old car and hope that the secured credit card
would be approved. But i was thinking that the secured card's amount
is very small and it looks like a large amount for a car loan on my
record will be good. Or does it matter at all?
-Is there a credit union in your area that you are eligible to join? Their
terms will likely be MUCH better for a loan and/or a secured credit card.
WAY too much! You need a good, inexpensive used car, and a loan for 2 or 3
years. Otherwise you'l