When I was 18years old I got myself into credit debit bad! I didn’t pay them off or anything they all went into collection. I finally paid them all off when I was 20-21 years of age. Well now I’m 25 and I started to get credit cards offers again I actually got a visa with a limit of 300,00 Dose that mean that my credit got better?
2007-02-06 08:50:37 · 7 answers · asked by liz r 1 in Business & Finance ➔ Credit
That depends on what you have done with your credit recently. If you read those offers, a lot of them indicate that your limit may be as much as 30,000 or that the interest will be 0.00% unless you have recent blemishes on your reports when they pull the data. If you have received the card with this limit, then I would say yes, but warn you to not apply for too many at one time. That will lower your scores as well.
2007-02-06 08:57:35 · answer #1 · answered by kam 5 · 0⤊ 0⤋
It could mean your credit got better. You also have to realize that some credit card companies will send someone a pre-approved card, when they know that person loves to use credit cards and also keeps high credit card balances. This is so that they can make a lot of money from you, in terms of interest etc..
If you're offered a card, take it only if the deal/i.e interest rate is low, grace period is high and also when you know you can handle the credit better than you did when you were 18.
2007-02-06 08:59:21 · answer #2 · answered by Muga Wa Kabbz 5 · 0⤊ 0⤋
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-02-06 23:34:28 · answer #3 · answered by gabriel jones 4 · 0⤊ 0⤋
dude, be careful with that card, if you have done okay without it until now, don't use it. A credit card isn't a sign of someone who has their act together, it is a sign that you are breathing. Sometime's pets get offered credit cards.
It is much better to pay cash for stuff so you don't have to worry about spending too much again.
2007-02-06 10:37:56 · answer #4 · answered by onephathippo 2 · 0⤊ 0⤋
Yes, they are willing to take a chance on you again. Pay on time and your credit will be fine. You did pay the money back eventually, and haven't been late on a payment in years (because there was not a payment to make), both of which work in your favor.
2007-02-06 08:54:59 · answer #5 · answered by wayfaroutthere 7 · 0⤊ 0⤋
Yes, it means that someone is willing to give you a second chance. Don't blow it and you will rebuild your credit score quickly.
2007-02-06 08:54:35 · answer #6 · answered by ? 7 · 1⤊ 0⤋
yes your credit is improving !
2007-02-06 18:35:01 · answer #7 · answered by carlos 5 · 0⤊ 0⤋