Vivienne asked:
As the result of some bad financial decisions and a divorce, my credit rating has gone down. I am trying to build it back up and wondered if someone could recommend a credit card I could get that would allow me to re-build my credit. I want a low set limit and as good of an interest rate as possible. Please help.
http://1mortgagecalculator.info
As the result of some bad financial decisions and a divorce, my credit rating has gone down. I am trying to build it back up and wondered if someone could recommend a credit card I could get that would allow me to re-build my credit. I want a low set limit and as good of an interest rate as possible. Please help.
http://1mortgagecalculator.info
Why do you want a low interest rate?
By carrying balances on credit cards and not paying in full you are only ruining your credit.
Why, oh why, don’t people know this?
There is only one way to get top 800+ scores.
Use your card for things you need, and pay in full the day the bill comes in the mail.
Any other way can destroy your credit and your life.
This way you never pay a penny interest either.
If you have trouble getting a card, go to the bank and ask them for a secured card.
This card turns into a credit card in 6 months.
Use it unwisely – not paying in full – and it can take 2 years.
Stop fouling up your future – and learn how to use credit correctly.
Paying interst only harms you – pay in full – get top scores and top jobs – since employers check.
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You need to know your credit score and you have to pay for this (it’s not free). Then, compare yourself to other people who recently got approved for credit cards. You can find this at.
Your options are limited since you have bad credit. It looks like your best bet is to apply in this order:
1) High (>700) — Citi Platinum, Chase Freedom, Capital One Rewards
2) Medium (600-700) — Capital One Standard Platinum
3) Poor (
I recommend reading the following articles, the first is on rebuidling credit after a divorce:
And here is an index of other appropriate articles all about rebuilding credit:
Best of luck to you!
Print out Judy’s answer, put it in a nice frame, and hang it on your wall.
She is 100% correct.
If you don’t a good credit it would be difficult to get any good credit card.
You can try any store charge card or GAS credit card as those are relatively easy to get an helps in building your score.
No such thing as a good credit card.
All credit cards will get you into debt.
Credit cards, like the fico score was designed to do nothing but get and keep you in debt.
The algorithm used to determine you credit score is all about how you interact with debt.
It’s an I Love Debt score.
If you are responsible with your money and live on less than you make. If you pay as you go and save up an emergency fund. You will not have any payments. You will have money and you will not have to worship the great fico.
Messing with credit will ruin your life.
Debt free is the way to be!