Rebuilding credit ... whats the best way?

My fiancee and I both need to rebuild our credit. His credit is better than mine, but neither of ours is in healthy shape. We've paid off all outstanding debts and the only thing either of us is paying on each month are student loans.

We recently switched to Bank of America for our banking because we moved an hour away from our hometown and it is getting a little difficult to get our banking done when we can't get to our bank.

BoA offers a secured card, but I've heard numerous times and from various internet sources that the BoA secured card is extremely difficult to obtain. We thought of getting a secured card for $500, using it to only to pay for gas each month, and then paying the balance in full each month. We only spend about $200 to $250 in gas each month, so it would never be near the credit limit.

Is a secured card the best way to go? What about bank notes? I've heard these are small loans through your bank that allow you to rebuild your credit, but I've never done this.

Any suggestions on how we can rebuild our credit together?

Glad to know that you are serious about rebuilding your credit. Go ahead and apply for a secured card. BOA may agree to issue a secure credit card to you since you have an account with them.

A secured credit card is the best way to rebuild your credit. Just make sure you don't exceed the credit limit. Make timely payments on all your other accounts. Avoid incurring new debts. Check your credit report regularly. Follow these tips to rebuild your credit gradually.

From a credit scoring perspective, revolving credit is scored much higher than other forms of credit. Being a payment risk analysis, FICO likes to see your use of discretionary credit. It also likes to see at least two revolving accounts, with at least one being a major bank card.
From a credit score rebuilding perspective, you need revolving credit. A secured card is often the best way to begin building a history of effective use of discretionary credit.

Welcome cnm,

A secured credit card is always the best way to start rebuilding your credit. Apart from that, you should pay off your debts on time so that the lender/creditor does not report any late payments. Moreover, you should also take the initiative to contact the lenders/creditors and request them to remove negative information from your credit report. Also, if you find any wrong information listed in your credit report, then you should dispute it with your credit bureaus.

Secured credit card most can rebuild your credit, every time is your debt don't overdraft, seasonable reimbursement

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