I'm looking for ways to raise my credit (I got a mystery "hit" on my credit score, recently, which sucks) and I was hoping someone on here knows of a credit card with a low rate that won't screw me after a certain period has expired. I've had many debit cards, but never a credit card. So any help would be appreciated. Thanks!
2007-07-20 08:26:14 · 4 answers · asked by creton4 3 in Business & Finance ➔ Credit
Yep, I'm in the U.S. ... if you count Texas. :)
Thanks for all your answers so far! I feel so dumb asking.
2007-07-20 09:18:17 · update #1
Look for a card that has some sort of incentives program. I have earned over $200 in 2 years with mine. Since I don't usually hold a balance, it doesn't matter what the interest rate is.
2007-07-20 09:32:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Personally, I don't look at the rate. If you pay off your bill each month, you will not pay any fees. Plus, this is the only way to raise your credit score. If you get a card and don't pay it off monthly, you will be charged extra (depending on your rate) and your credit score will go down. Make sure you get a card with no annual fee. I have a card that pays me 3% cash back on groceries, fast food, and gas; and 1% on everything else. That way, if you pay off your card every month, you are actually making money. Credit card companies reward their good customers. go to creditcards.com and search under cash rewards cards. I've actually made about $300 dollars since I got it a couple years ago. Since you've only had debit cards in the past - you have practice. ONly spend the money that you have!! no matter what.
Good luck!
2007-07-20 15:39:08 · answer #2 · answered by DrewS 2 · 0⤊ 0⤋
You are in the US, right?
well, if you get a card BUT always pay in full every month, which is how I handle mine, the interest rate doesn't much matter as long as there isn't any on purchases.
That means that many major banks will do since most of them charge no interest if you pay in full every month.
So then you'd probably choose one based on the name of the bank being recognizable to other future lenders.
That means the biggest banks are your likely targets -- Citi, B of A, and Chase.
GL
2007-07-20 15:36:32 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 0⤋
I have a Bank of America World card that is 9.5% interest.
I never carry a balance...but it's nice to know it's that low.
2007-07-20 15:45:53 · answer #4 · answered by Expert8675309 7 · 0⤊ 0⤋