Sammy asked:
First card I want to start with is Capital One regular purchase, Second Card Disney Visa for my Flordia trips. Maybe three either just regular Discover or Walmart Discover. Is this a good idea.
Rebuilding credit? Credit Cards to get. I want only Three?
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You don’t want to many, remember your trying to improve your credit not get into a situation where your credit gets bad again. I would try the Capital One to start with, them maybe add 1 more a year or 2 down the road, but 2 is enough.
no you idiot cash only get a bank card no interest rates nothing but your own cash
captial one is the best. Whenever you are getting a credit card tho, Look at the fees they charge, like annual fees, some will also have membership fee’s , one time start up fee, all thos will rip you off. I have a credit card, with no fees at all except intrest!
first, if you are rebuilding credit, means you messed it up, right. well, walmart and discover wont give you a credit card if you have bad history, the only way to rebuild is with secured card(money placed in escrow for you)
or secured loan (auto). the risk is smaller for the lender, therfore offering you more options.
no if you are having trouble with credit, keep it to 1 card you are less likely to get into trouble with only one card
Yes, if you are responsible and pay off the balance every month. Credit cards make their money on people who don’t pay the balance every month.
I would make everyday purchases like groceries on the credit cards and pay it off to build up a good credit history.
In order to rebuild your credit. Dont buy things on your credit card unless you already have the money. I know it sounds stupid but if you were going to pay cash for something it would be better credit wise to put that money aside and buy it on credit. When your credit card bill comes in you should use that money to pay it that way. You should have atleast 2 open lines of credit at all times. i.e. 1 car loan and 1 credit card. Mortgages are always good looking on your credit report as long as they are in good standing. The preference for your credit rating your credit cards should be 2 regular credit cards and one store card. That is just the preference most prefered. It will actually probably take about 2 years of steady good credit to start changing your score around. But in 2 years you will see the credit card offers begin to arrive in the mail. Just toss them out. After a while your current credit card interest rate will go down. Just hound your company. I hope this helps and I hope you will one day be able to live as you like financially.
If you are rebuilding your credit, you will want to avoid having too many credit cards. Especially if using too many credit cards damaged your credit in the first place. Apply for one with no annual fee, a low interest, and a low credit limit. If your credit score is low, you may have trouble getting a credit card. Always pay your rent or mortgage on time. Eliminate Florida trips until you have enough in savings to pay for the trip. You will want to have a credit card to buy airline tickets, reserve hotels, and cars, but pay off the balance when the bill comes. Some people get a gas card first when they are recovering from a bad financial situation. Gas is something you buy anyway so they put the gas on the card, set aside the money and pay off the bill completely when it comes. Gas cards tend to have high interest rates, but if you pay in full, you incur no interest. Aim for one card to start with and see how that goes before applying for another one.
No it’s not a good idea. It doesn’t look good on your credit report if you apply for a bunch of credit in a short period of time. Also, everytime you apply for a card, your score goes down. One card, maybe two at the most is fine.
improve your credit in 60 days