What is the best credit card for rebuilding credit? (1 Viewer)

[OKSaintsfan]

My credit is pretty much shot. So I decided to try and rebuild my credit. A friend suggested getting a credit card since I dont own one. Does anyone have suggestions on a particular card that would be ideal? Or maybe a credit card isn't the way to go. Any other suggestion?

 

[jrdbrn]

One you will pay off every month.

 

[cdogg]

Go to a decent jewelery store, buy something smallish on credit, pay it off.

 

[Bleu Raeder]

Do not use a credit card to build credit.

 

[soggymoss]

Do not use a credit card to build credit.

Actually if you have bad credit its the best and quickest way. Try to go through orchard bank they are normally very good.

 

[kennydfresh]

Do not use a credit card to build credit.

This PLUS This

One you will pay off every month.

= END THREAD!!

 

[Wingdog]

The APR doesn't matter if you pay in full every month, so just about any card will do.

 

[saintsfan84]

A credit card is fine, as long as you pay it off every month. Just start off by putting gas/fuel on it. Every time you fill up, move some cash from your checking account so you have it there to pay the bill when it comes due.

You're going to have to work small like this for a long time to build your score back up. But if you stay persistent, it will pay off. Good luck.

 

[Severum]

CreditBoards is the best resource for info on credit cards and consumer credit. They have many sections/threads devoted to building and repairing credit.

 

[Bleu Raeder]

Get to creditkarma.com and get an account there for free. Read the articles, check / track your score and look at the offers.

Get your credit reports every year and make sure that old items are coming off.

As to my earlier statement; credit cards are much too big a temptation for a lot of folks who have tanked their credit. It takes discipline to spend only the money that you have in the bank and for some they just do not have that discipline. I have seen way too many people get the $500 limit card (manageable, right?) and buy gas the first month or two and then pay it like they should. Then suddenly the holidays are upon them or they see something that they just cannot do without and BLAMMO! the card is maxed out.

 

[Big_L]

If you get a credit card, do not go above 50% of your limit. Pay on time every month.

 

[FullMonte]

If you get a credit card, do not go above 50% of your limit. Pay on time every month.

Or, don't use it at all. Many cards will report a card with no use as "pays as agreed."

 

[bozoka45]

If you get a credit card, do not go above 50% of your limit. Pay on time every month.

What does going above 50% of the limit have to do with anything if it's paid off monthly?

 

[ArcSoul]

Prostitutes dont take credit cards though...