So your question is about rebuilding your credit. It really doesn’t matter how you got into this situation, whether it was a drug addiction or a nasty divorce or just down on your luck for a period of time. In terms of rebuilding your credit, here’s the good news: The steps you take going forward are going to carry a lot more weight than the events in the past and that’s going to continue to be the case.

Recent events carry more weight than things in the past. So those previous missteps are going to carry less and less weight as time goes along, but you’ve got to set your foot on the right path. Start by getting a secured credit card. This is one where you’re going to make a deposit that’s equal to the credit line.

This is a great way to get started in establishing credit and then eventually, you can transition to a more traditional unsecured credit card. But be sure to pay the balance in full every month. Just make small token purchases, don’t run up the balance on these cards.

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