Prepaid Credit Cards

I'm kinda upset today because my credit score went down. I am checking my credit score monthly so that I will know the standing of my credit. When I first apply for a Car Loan, my score was over 700 that's why I got a very low interest rate. It was really funny when we were in the financing process because the car dealer said that, there's only one bank who's willing to finance us because me and my husband's credit scores are so low. We knew that the dealer is just trying to pursue us to accept their financing options which is about 14% APR. Good thing that we are aware of our credit standing. My husband has a score of over 800 and mine was 701. When we told the manager about it, they told us that it was mistake, that they were referring to another customers. Anyways, I feel sad for these people whose paying high interest for some loans. It's really important to manage a good credit. One option I just learned on how to establish your credit is applying for a Prepaid Credit Cards which are also called as secured credit cards. I think it is a good starting point. People who want to manage their spending can use these too. A prepaid credit card is just like a credit which you supply with a prepaid amount. I think this is a good option.

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