 TITLE: How Your Tax Refund Could Improve Your Credit Score CONTENT: Consider Applying for a Secured Card\n------------------------------------\nMaybe you're looking to build credit from scratch, or to bounce back from a blow to your credit scores. Your tax refund can give you the flexibility to open a secured credit card, which can help you establish credit history with regular, on-time payments.\nSecured cards work similarly to traditional credit cards, but they require a refundable security deposit that typically becomes your credit limit. This deposit acts as collateral for the card issuer, protecting it in case you don't keep up with payments.\nYou don't even have to use your full tax refund to open up a secured card. You can usually choose your deposit amount, which for many cards starts at $200.\nSecured card issuers typically report your payment history to one or more of the three major credit bureaus (Experian, TransUnion and Equifax), so responsible use can help you build a positive credit history. That means making all payments on time, using as little of your available credit as possible and paying off your charges in full every month. END