Building back credit?

Question

I will be out of debt in about a month, but my credit is shot! The only revoling account that i have that is in excellent standing is my car, i wanting to get something to start building my credit back. IS a walmart card easy to get and would you suggest getting it to build credit?

Answer 1

to get your credit back DO NOT apply for another unsecured store credit card(like sears, macys, victoria secrets). they have very high interest rates and any time you apply for a card, regardless of whether or not you get accepted it is shown on your credit., your best option is to put 200 in a secured card and to keep charge small things on it and pay it off IN FULL every month for atleast 6 months then maybe go wiht another card nad continually pay off that balance in ful as well.. trick is not to max them out.. just put say 100 on it and pay that off.. itll begin to show a trak record.. also contact the companies you owe in writing and offer them a small amount every month till you pay off that balance, thats what worked for me.. and in 2 years my credit is on track and i qualified for a mortgage at a low interest rate,

Answer 2

If your credit is shot, first thing you should do is to view your credit report with one of the three credit rating companies. The only way to rebuild your credit is to pay your bills on time all the time. Your Walmart idea is as good as any other credit card as long as you pay it off as soon as you use it until you gain better control of your finances. You may not realize it but your credit rating is one of the most important aspects of your life and affects everything you do from how much you pay for automobile insurance to how much interest you pay on a revolving loan. Which ever card you choose read the small print. Know the grace period and APR rate on the card. Understand that any credit card will charge you a higher rate due to your low credit rating until such time you demonstrate you have control of your finances. The trick is that you must get one and use it to rebuild your credit. When you have a proven track record you can actually bargin with credit card companies for a better intest rate and get it! Good luck

Answer 3

You need to get an account somewhere to establish that you can make payments as agreed. I'm not familiar with the Wal-mart card, but I do know that household bank and orchard bank both give cards to people who have less than perfect credit. Also, you may want to look into a gas card - like Chevron - or even a department store card, like Victoria's Secret.
Hope this helps! I have been working toward getting my credit back on track too, and these are the options I went with : )

Answer 4

Yea, Get a Victoria Secret credit card UUUMMMMMMM