My FICO score is 0 right now. Who would offer me a credit card in order for me to start working on improving my credit score? Debit cards from the bank that function like Credit cards do not improve the FICO score.
2007-02-23 11:32:48 · 5 answers · asked by AviTech 3 in Business & Finance ➔ Credit
First FICO Scores start at 350 and go up to 850, so it is impossible to have a FICO score of 0. If you have never had any credit it is possible you don't have a score at all but it is not 0.
Not having a score means you don't have enough history to determine a score.
If you have never had any credit you might want to try an apply for store/gas cards, or a Secured Card. After a few months of a good hisory you could then apply for a regular Credit Card.
2007-02-23 11:44:44 · answer #1 · answered by OC1999 7 · 1⤊ 0⤋
There are secured credit cards you could probably get. If you have a bank or credit union where you do business, see if you can put up a savings account as collateral for a credit card. You may be able to put up as little as $500. You will need to pay the monthly charges every month or it will harm your credit rather than help. Don't over charge. Try to pay the entire balance every month so you won't pay finance charges. Also try to keep your monthly balance under 25% of your credit limit. Rather than getting a credit card you may want to consider buying a car and make regular monthly payments. That would probably do more to help your credit than anything else. Don't buy a car or anything else unless you need it. Good luck.
2007-02-23 19:42:06 · answer #2 · answered by Flyby 6 · 1⤊ 0⤋
Reward credit cards reward you depending on the amount you spend on the credit card. Usually, you can collect rewards through 3 methods. One method involves earning cash back on the card, which is generally a certain percentage of each amount you spend. The next method involves giving points or any other type of token to the customers to accrue. They can then redeem these points for gifts like luggage, cosmetics and other goodies that the credit card company offers. Most of these reward schemes have alluring gifts and huge variety of selections. But the better option is to go for a cash back reward as it allows you to use the money any way you like.
2007-02-24 07:03:06 · answer #3 · answered by hendy h 2 · 0⤊ 0⤋
Try Orchard Bank, or if you're in a Union, Union Plus can give you a secured credit card.
2007-02-23 19:40:29 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Gas cards are the easiest charge cards to get. Get one or two and use them and immediately always pay the bill. This will help improve your rating.
2007-02-23 19:39:57 · answer #5 · answered by Orion777 5 · 1⤊ 0⤋