Commercial and bankruptcy law expert Professor Gregory Germain shared his advice for those looking to rebuild their credit scores at MoneyGeek.com. He advised against credit cards with fees, saying “There are so many fees, and new ones are added all the time, that it’s impossible to list them all. First, you want to find a card without an annual fee.” Other insights he shared were to pay your balance in full, see if you can have a grace period to avoid interest charges and find a low APR. Read his full answer to the question, What red flags should credit card shoppers with poor or fair credit look for in unsecured credit card offers?
Germain also answered the question, If someone has fair or poor credit, would that person be better off getting an unsecured credit card (if approved) or a secured credit card? He suggested unsecured credit cards tend to be a better choice but to compare your options. “If the balance is modest, you may be able to convince a family member to serve as a co-signer. I did this for my daughter when she went to college (and had no credit history), and now she has a good credit score.’” Read his entire answer here.