Your credit score is used by lenders to determine if you can get a mortgage loan and what interest rate they will charge you.  It is also used to obtain a car loan, cell phone contract –- even employers and landlords check it!  This is a precious 3 digit number you should try your best to protect.

The U.S. Bank Secured Visa Card, which is from a large bank, usually have the best credit card terms. Your security deposit can range from $300 to $5,000 and you earn interest on it, which is excellent. The fine print notes that your application could be denied if you’ve had a bankruptcy, are less than 18 years old, or if your security deposit is less than $300 to start.

Just face it, if you are a spendthrift and your credit record is poor or you have missed payments and you have also filled in a lot of loan applications — you are no different from a lot of other people.

Sometimes, people make bad decisions and they end up losing their house, car and credit cards that ruin their credit history.

Collection agencies can be found in two different forms: in-house collection and third-party collection. The in-house collection agencies are most often the billing department for a credit agent or large firm which offered time payments. These are used to collect money while keeping the collection costs low and within the company. Most often this will be the first collection attempt you will come across.