Should I apply for Credit Once I've paid off all of my debt?

Question

I was recentley in debt and was paying my bills late, so I know that I have already required some negative marks on my report. But I'm already getting offers in the mail now that my debt is paid off. Should I apply for another card?

Answer 1

I would apply for one credit card if you don't have any open ones already, charge no more than $30 a month, pay it off in full every month. Try to use it only for emergencies. Another thing that you can do to help your credit is by reporting bills that you pay every month through this agency called PRBC. All your payments are reported through this agency and it compiled in a Bill Payment Score and can be included with your regular credit reports. This shows that you're paying on time every month

Answer 2

Once the debts are paid off you can call the old credit card companies and ask them straight out what is the best A.P.R. they can give you. They have already made a small fortune on you and may be friendlier than you think. As far as the new offers goes, read the fine print!!! They can be very expensive. Many set up shop in states that have very lax banking and usery laws. Also, remember most experts will tell you that 2 credit cards is all you need. That excludes of course gas & department store cards.