By Admin on Jun 22, 2009 in Credit
wifey asked:
I should have my debt cleaned up within a few months, and I need to apply for a credit card to help build my credit back. I already have a new auto loan that is helping. Or will I receive pre approvals. Please help.
http://1mortgagecalculator.info
I should have my debt cleaned up within a few months, and I need to apply for a credit card to help build my credit back. I already have a new auto loan that is helping. Or will I receive pre approvals. Please help.
http://1mortgagecalculator.info
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Start small – get a store card or gas card… They generally have a low limit so you can’t get into a big debt issue, but start with one and keep your balance low – and you’ll be on your way!
htrout13 | Jun 25, 2009 | Reply
NONE! If you don’t have the money for it you don’t need it. Credit cards are the worst way to try to deal with your credit because you think they are helping and then something happens and you can’t pay and you are right back where you started. Stick with your car loan and leave it at that.
txbowe | Jun 26, 2009 | Reply
You don’t need a credit card to built up your credit !
As you pay for you auto loan in its self will help.
If you just got out of debt ,you DONT need to get back in it by applying for another ……..
You credit will eventaully be built up by staying out of debt and that in it self will look good to the creditors when they do need to find out about your credit!
critterstation | Jun 29, 2009 | Reply
First of all you should analyze your situation and make sure you can afford having a bad credit card at the time being. If you can, take a secured credit card or some pre-paid card to add up to your score a bit. Make sure the bank reports to major credit bureaus monthly. Pay ON TIME. As for pre-approvals, you should be extremely careful with them, as most of them provide outrageous APRs and hidden fees.
Victory A | Jun 30, 2009 | Reply
First let’s look at the secured credit card for bad credit. A secured credit card requires that you deposit money with the issuing bank, and the bank will issue a credit card in the same amount for your use. Secured cards are guaranteed to be approved, because the bank has your deposit money in case you do not pay your balance. A secured credit card for bad credit operates much like a regular credit card. You receive a monthly statement, and you pay your minimum monthly payment or the balance in full each month. You are charged an interest rate, annual fee and possibly other fees for a secured credit card account.
Be aware that with a secured credit card for bad credit, your charges are not deducted from the deposit you have with the issuing bank. The bank is simply holding your deposit in the case that you default on your credit card balance. You must pay your monthly payments, and owe the bank the balance that you have charged on the credit card. You cannot refuse to pay simply because the bank is holding a deposit without further damaging your credit. Read more from:
brady ewart | Jul 1, 2009 | Reply
Getting a HSBC credit card is quite easy. Applying for a HSBC credit card is a simple procedure that can be completed in a short time online.
The initial step is the selection of card. Search for HSBC credit cards on the Internet and select the one that is most appropriate for your needs. Once you have chosen the preferred card, the next step is to submit basic information, such as your personal details. After you have done this, fill out the application details to indicate your card instruction choices like ATM, language etc. The third step is confirmation. Here you read and accept all the terms and conditions and declarations of the agreement. Once you are through this, the last step is acknowledgement. Here you get a reference number to confirm the receipt of your application.
Succes | Jul 3, 2009 | Reply
Orchard Bank has cards for people that are trying to build or rebuild their credit. They even offer secured cards in case you’re not approved for their standard credit cards. A secured card although you have to put a deposit upfront to get the same amount in a line of credit, has the most flexiblity. What I mean by that is that you can build up your credit line by adding to the deposit, which you can’t do with a regular card. The deposit is gaining interest while you’re building credit, so in a sense it’s like building credit with a savings account. The higher the limit you build with that secured card, the better it looks on your debt to available credit ratio, which is 30% of your score. Keep in mind that if you pay on time, and keep the balance manageable (30% or below the credit limit) usually after a year, you get that deposit back with interest. and the card either converts to a regular one, or an better card is offered to you. If you’re willing to sock away some extra cash you would’ve put in a regular savings account, but you want to build your credit at the same time, this should be the option for you.
I posted the link to Orchard Bank where you can pre-apply to see what kind of cards you may be eligible for. They also offer secured cards, like I mentioned earlier.
Good Luck!
Smoovy Loco | Jul 6, 2009 | Reply
There are guaranteed and pre-approved credit cards for such situations. Check out
Larry L | Jul 7, 2009 | Reply
Orchard bank or Chase
B.B | Jul 7, 2009 | Reply