build up your credit the right way

There are some things that we need to get done especially with our finances. We were wondering how we could maintain and build our credit while not having to pay all those high rates on our credit cards. I asked my husband, “What was the correct way for even me to build credit with having to have a high rate credit card”. He said that some of the best things to do are to get prepaid credit cards.

With a prepaid credit card, the fees are nothing compared to interest paid on a regular card, and you can borrow against money you put into the account so that your revolving debt isn’t increasing any more. We could get something like a prepaid master card and they are considered as good as regular credit cards. They have a limit that you set by the amount of money you put into the account. We use our debit card from our local bank to always get our groceries, why can we use something like a prepaid debit card to do the same and build our credit at the same time?

I think what we will be trying to do in the future is to get rid of our revolving credit cards and get a prepaid credit or debit card. This way we can still have credit that can help build our rating, so we can have more luck in the future if we decide to buy another house.