I am trying to rebuild my credit. What is the best credit card to get?

Answer 1

capital one helped build my credit

Answer 2

Ideally you should use a credit union for the lowest rates. Talk to them and let them know you are rebuilding your credit, and they will go out of their way to help you, banks too. Another thing you might ask about is a secured loan from your bank or credit union. They have a type of loan where you borrow $1000, but they don't actually give it to you right then. You make the payments all year. At the end of the year they give you the $1000. The interest rate is usually less than 5% which mean you end up paying back $1025. $25 is a lot cheaper than those 20% plus credit card rates. You get a whole year of good stuff on your credit report for making the payments. A 20% loan on a credit card would mean you have to pay back about $1112. You'd save $87 with the first option. Good luck, ....

Answer 3

There are many websites that will list credit card offers. Just do a web search for: credit card comparison

I am rebuilding after a bankruptcy a year ago. I have since gotten a car loan -- I put more than half of the purchase price as a down payment, and chose a relatively inexpensive model. Since that made my payments fairly low, I have been sending in more than the amount due every month. The loan is for 5 years, but I plan to have it paid off in one.

I just put in for a credit card with HSBC/Orchard Bank. I was eligible for an unsecured card based on my income. Only get a secured card if you can not get a regular one. I have been getting many offers in the mail - I think they get a list of people who have gone through bankruptcy. I saw that this one was recommended on several of those websites, so I applied for it.

Once you get the card, only use it to purchase things that you could be paying cash for, and pay the balance in full as soon as you receive your statement. Do not carry a balance from one month to the next and NEVER pay late!

Answer 4

Secured credit cards require you to deposit money into a savings account to be used as collateral. For example, if you deposit $500 into a savings account, then your credit limit on your secured card would be $500. You then use the card just as you would any other credit card, the difference being that if you cannot repay the borrowed money, it is simply deducted from the balance of the savings account that you would receive upon closing the account. Secured credit cards are primarily for borrowers who want to rebuild their credit, so they generally report to all three major credit bureaus monthly.

Unsecured Credit Cards

There are companies that offer unsecured credit cards to consumers with poor credit. Many of these companies are charge outrageous fees in an attempt to take advantage of those who struggle with getting approved for a credit card. In order to avoid this, it is important to shop around for the best deal, . Try to choose reputable companies, and apply for only the best three deals you find.

Answer 5

If you haven't paid off the other debt that resulted in the need to rebuild your credit ,then a card is the last thing you should be focused on. You can rebuild your credit by taking care of any debt on file. Pay them off in full rather than settling if you can.

Answer 6

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.

Answer 7

You can get a free consumer list of credit cards for people with bad credit to help them restore their credit at http://www.bad-credit-credit-card-for-people-with-bad-credit.info/

Answer 8

You need to find that credit cards that are hurting you the most then pay those off first, then keep paying them off as they get easier and easier to take care of. Then captialone is pretty good about taking anyone but make sure to pay it on time, I don't like their customer service. I've also found that citibank credit cards have good customer service.

Answer 9

get a secured credit card, you basicly put a payment down for how much you want your credit limit to be, and just keep paying it off without going over your limit. I know a guy who did that for about a year and it improved his credit

Answer 10

If your credit is bad you don't need a credit card. You need to pay for what you've already charged. Paying what you owe will improve your credit.