Hi, was is the best way to establish credit, the only credit card I ever had was from?

Question

a friend who put me on his American Express for about 6 months. I also owe about $6000 in medical fees from 2 E.R visits in the past 3 years, will this affect me.

What happens if I get 2 secured cards and do good for 1 year, and not pay the medical fees.

I just ran my credit and it comes up at a fico of 642 the middle.

Please help I want to start building credit but I need to know how to do it the right way.

Answer 1

You could apply for a gas Card (Shell, Diamond Shamrock, etc.). They are usually pretty easy to get.
Wal-Mart starts you out at 500.00. That's a good small amount to try for.
Do get on a payment plan for the medical bills. They are not going away, so might as well start paying those.
You didn't say what kinda job you have, but look for a better job, go to classes to better yourself, do good in the job you have for a raise or more hours.
642 is not that bad a credit score. Mine is 681 and I just bought a house, but I do have a great job and income.
You don't sound in too bad of shape. Just hang in there and know it's not going to happen overnight.

Answer 2

Get a card with a small limit and use it occaisionally ALWAYS pay it off right away or the debt will build - quicker than you think it will! If you don't miss payments then your credit will build up, but it takes time.

Pay your medical bills! Pay ALL your bills! Call the hospital and speak with their billing department. Let them know that you want to pay your bills, but you have limited means, then suggest a monthly payment that you can afford, they should work with you on this, if not ask for a manager.

Answer 3

Your score is not that bad. Orchard Bank is a good place to start fo runsecured, their fees are not that unreasonable and they do raise your limit after 6 months of on time payments. Generally, medical does not count against you that bad until you want a home loan or home equity loan. Best of luck to you.

Answer 4

the best way is too get a secured car 250 dollars will do it they report every month after one year of making on time payments you'll have credit cards and loan companies sending you pre approved stuff all the time.

Answer 5

Start making regular payments on the outstanding medical bills. Get ONE secured card and use it properly. Don't EVER EVER let any bill be late (including utility bills, etc.)

Answer 6

you need to pay your medical bills. that will raise your score, then you can apply for more credit. don't do the secured cards that won't help. paying your bills will.

Answer 7

yes dear rebuilding your creditworthiness is possible, a month ago I got credit building assistance from NHBS, Inc, and it worked out fairly fine, might as well check with them if youve got the time

http://www.newhorizon.org

goodluck and Godbless