2006-06-30 20:37:56 · 7 answers · asked by kasper356 1 in Business & Finance ➔ Credit
There is some good info here.
2006-06-30 20:41:07 · answer #1 · answered by Anonymous · 2⤊ 0⤋
To rebuild your credit, pay the minimum on the credit card for the first month. On your credit report, it will show the high balance as well as the limit.
After that, pay it off in it's entierty every month. You avoid the interest charges, but you still have an impressive item on your credit report.
2006-07-01 12:49:19 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You should pay in full as often as possible.
Once every 8 months or so, you might pay it over a 2 month period. Charge something like $50 then pay $25 for the next two pay periods.
Never just pay the minimum either, to pay 2x (or more) the minimum.
2006-06-30 20:47:21 · answer #3 · answered by echo 7 · 0⤊ 0⤋
Grace is right, neither. Pay down you are at least under 50% of the available balance. And of course do it on time. That will get your score rising the fastest,
2006-07-01 06:06:04 · answer #4 · answered by unclejesse1 3 · 0⤊ 0⤋
A pair of sissors is the best way to build up credit, you cut your card in half and post it back to whom ever issued it.
If you dont spend what you haven't got you finish up with a bank ballance thats BLACK not RED.
2006-07-01 03:53:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Neither! I know, it sounds funny but if you make a purchase and pay it off in three months then make another purchase and pay it off in three months, it appears that you can and will pay your debts while the card issuer can still make money off of you.
2006-06-30 20:42:56 · answer #6 · answered by Grace 3 · 0⤊ 0⤋
pay more than the minimum or balance in full if you can
2006-06-30 20:42:01 · answer #7 · answered by dynsapp 2 · 0⤊ 0⤋