I owe under $1000 in past debut which I am working to pay off. I am making decent money and I do pay my bills ever month. Most of the bad credit was from my younder irresponsible days but it is still hunting me thru adult hood. I just need to know who I can look at or contact to at least help me establish a $300 limit and then they would allow me to prove myself for a bigger limit in time.
And also, if I do get a credit card, how should I use it in order to build my credit rating (i.e purchases, payments, etc.)
I am 30yrs old now, and its killing me to not have at least a 650 or better credit rating.
So any advice and resources would really help me out.
thanks
2006-07-14 05:42:06 · 4 answers · asked by AMP 1 in Business & Finance ➔ Credit
Go to your bank. Since you have been paying the debt every month, this will definitely reflect on your credit report. Ask your bank about applying for a "secured credit card". The card is "secured" because your initial credit limit is determined by the security deposit you put on the card. This security deposit is typically held for about a year. After the year, you're entitled to receive the deposit back. The bank will see if you have any current charges on your card, apply your security deposit against the debt, and send you the remainder.
If you can't afford a $300 deposit right away, you can start with a smaller amount (say $100) and then increase your secured credit limit by sending in a secured credit increase payment each month. Some secured credit cards to have a credit ceiling, so you just need to make some phone calls to area banks to find out who has the best deal for what you're looking for.
2006-07-14 07:33:58 · answer #1 · answered by dougzinboston 4 · 0⤊ 0⤋
Get a card from Orchard Bank. They will start you off with a low limit. Make a small purchase the first month and spread the payments over two months (make sure you pay the minimum). After that, pay it off every month.
Continue to pay your other debts.
2006-07-14 06:22:00 · answer #2 · answered by Anonymous · 0⤊ 0⤋
check out orchard bank and capitol one credit cards.....they really helped me out.
2006-07-14 06:14:10 · answer #3 · answered by MsNic 4 · 0⤊ 0⤋
they help people with credit cards here
http://www.wesayes.com
2006-07-14 05:48:50 · answer #4 · answered by tuesdaysgreat 1 · 1⤊ 0⤋