My parents taught me zero about finances..my credit was so bad cuz I wouldnt pay my bills on time, interest % was high etc etc. Im 23 now and have had my last credit card closed for maybe a year now and would like to start fresh to rebuild my credit history, my FICO score, etc. Where do I start? All these APR terms and all the competitors out there in the market...gives me a headache. If you can suggest anything- 1. a good credit card w/least fees, I guess most rewards like points? and 2. where I can get good info about the industry/personal finance w/o spending too much time, a resource I dont have.
THanks tons!
---23-f-CA
2007-09-14 08:44:27 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Try to find one that does not have an annual fee.
Watch the interest rates, you may be attracted to one that says "6%" but read the fine print, make sure this is not an introductory offer and it jumps to 25% before you know it.
Make sure you get the payment date where you need it, not all but some cards will adjust the due date to meet your pay schedule.
Always make your payments on time. Many cards will raise your interest rate for a late payment.
Honestly, if you can get away with it, do not use a card at all. I know they help build your credit rating but they can also turn you upside down in a heartbeat. Pay cash as often as possible.
Good luck.
2007-09-14 08:54:49 · answer #1 · answered by Pat 5 · 0⤊ 0⤋
Do you have unpaid negatives showing on your credit report? You should get a copy of your credit report (AnnualCreditReport.com for free copies from each credit bureau online) and work on settling any bad debt first.
If your score and history are poor, you are not likely to qualify for a low interest rate, no anual fee, good reward credit card. You may have to start with a secured card and establish a year's worth of on time payments before you can get a better credit card.
2007-09-14 09:05:25 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
Credit cards=being broke
Pay cash
2007-09-14 09:01:09 · answer #3 · answered by Professional in FL 4 · 2⤊ 0⤋
Why do you need a credit card? It already got you in trouble before. Pay with cash and live within your means.
2007-09-14 10:10:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
How about cash? How about just paying cash? You don't need a FICO and you won't ever been embarrassed.
Live within your means.
2007-09-14 08:51:39 · answer #5 · answered by Anonymous · 1⤊ 0⤋