The great recession has caused many institutions to reexamine the causes of the financial meltdown. Specifically, the lack of standards for providing credit has cause many individuals who were once deemed credit worthy to no longer be able to obtain it. As such, credit unions and secured credit cards serve as a tool for building credit.
See Tara Siegel Bernard, "Credit Builder Loans Can Help Burnish Your Credit Score," nytimes.com (Feb. 06, 2012).
Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.
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