Vivix Credit Solutions Secured Credit Cards

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Vivix Credit Solutions Secured Credit

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Posted by Vivix Credit Solutions | Categories: Building Credit, Credit Cards, Vivix Credit Solutions | Tags: secured credit

Vivix Credit Solutions Why Should I Open a Secured Credit Card? -

The experts at Vivix Credit Solutions have helped many clients with credit and financial hurdles they may face

in the world of lending and credit. If you are trying to rebuild your credit after a bankruptcy or other life change,

Vivix Credit Solutions can offer one or more of their many services in order to help you become more creditworthy

in the eyes of banks and other lenders. Contact them for further information about the solutions they offer and

they will walk you through the process of securing alternative credit.

How Secured Credit Works

A secured credit account is one that uses collateral as assurance of payment. For instance, home and car loans

are secured lines of credit because if you don’t make your payment, there is security available – your home or car

– for the bank to collect from you. Vivix Credit Solutions explains that regular credit accounts are unsecured;

there is nothing to collect should you default. However, with a secured credit card, you pay a down payment,

which becomes your credit line. This way the bank has the security in case you later decide not to pay your bill.

A secured account helps build positive credit.

Damaged or No Credit

If you have damaged credit or a lack of credit period, Vivix Credit Solutions recommends opening a secured

credit card to establish the history needed for banks to extend you financing in the future. After six months to a

year of positive payments on record, some secured cards will revert to a traditional account and your money may be returned.The bank may conversely give you a credit increase without requiring a further down payment, but in

some cases a secured credit account will remain so until it is closed.

Establishing a Credit History

You can help establish good credit by charging as little as $50 per month and paying it in full when your statement arrives. Just be sure to spend only what you can afford to pay in full with your next month’s budget. Budget skills

are highly useful here, and Vivix Credit Solutions offers the information and answers you may need to begin to

make wise decisions regarding your finances. Sometimes, consumer education about credit and financial

responsibility is all it takes to put the debtor on the right path and this is why Vivix Credit Solutions is happy to

serve you with your credit needs.

Call Now to Speak to one of our Credit Experts 702-

434-4414

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