I just applied for the Credit Union?

Question

I only have one credit card that is a shopping card I have not been late on any payments buy my balance is like 400 and something. Should I worry. I also have a victoria Secret credit card but never used it does that look bad?

Answer 1

yes do away with your plastic they can charge you what ever they want to the pre paid is better if you got to have it.

Answer 2

Your credit rating will not suffer because you have a couple of shopping cards with a zero balance. In fact, it will probably help. One of the calculations of credit report scoring is your available limit to debt ratio. If you have a credit card is a zero balance, that gives you a 100% available balance.
Now, if you have too many credit cards, that starts to look bad and will start to affect your credit rating.

Make sure to keep paying at least your minimum balance every month to keep building your credit. You should be able to get a credit card from your credit union. They will start you off at a lower balance ($500 or so) and allow you to expand the credit as their experience with you grows.

Good Luck

Answer 3

Just be careful with shopping cards, they can charge high interest. Buy something you can pay in a month or two, that builds credit, apply for the Credit Card at your credit union, and just keep that one and do away with the store card, have no more than two bank credit cards.

Answer 4

no, you should be okay. good luck