You CAN rebuild credit without credit cards

Rebuilding lousy credit is a hot topic with consumers these days, and one I've thought about a lot, having recently written a book about bad credit and having survived many, many years of financial turmoil. I currently have no credit cards, save one that my wife and I were able to get when my wife needed dental work last year. When I mentioned this to my bank manager once -- during a discussion about my almost-every-other-month overdraft fees -- he suggested I get a secured credit card.

Secured, as in, I put my own money into the credit card, say $300, and then I use it for a year, and eventually I'm be granted credit again. (Bankrate.com does a nice job of explaining the ins and outs of secured credit cards, in case you're interested in learning more.)