Peter asked:


I have a fairly low credit score due to a couple of charge-offs and a couple accounts in collections that I am not even aware of, but they are possible medical bills. I can’t do a secured card right now. I really just want a card to make small purchases and raise my score. My questions are as follows; What cards should I apply for? How could I raise my score without a card? And what is a good APR for my situation?

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Karen M asked:


I just applied for my very first credit card. I got denied .
The reasons were:
Credit report shows total available credit on accounts too low.
Insufficient amount of credit information is reported on credit bureau report.
What does all that mean?
Also what do I do now?
Getting a secured card does not sound appealing .
I do not know if this helps, but I am almost 24 and I am employed with a steady cash flow.

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paulita asked:


I need to build my credit again and planning on getting a secured credit card. My credit score now is 550 so i would like to raise it up to 700+. Just curious as to how long will it take to build my score up again? How much points does a person gain in a month? Thanks.

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Nimz asked:


I just submitted an application for a secured credit card about a week ago and the credit card company debited the $200 from my checking account that I would need for a security deposit and I still haven’t received my credit card yet. When do you expect that I should receive my credit card?

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*another nickname* asked:


On average how much does one secured credit card raise your credit score per month?
Does the amount of points double if I have 2 secured credit cards?
( assuming card has a $200 limit and is only charged $10 and paid off in full monthly)
I’ve read everything from 5 points to 30 per month!

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Eddie H asked:


I am interested in getting a secured credit card due to the fact that I don’t get credit anywhere. I never had credit and would like to build it up. I “heard” that if you deposit like $200 my credit limit will be like $400. Please help!!
Thanks guys!

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I_want_it_now asked:


Im 17 and I want to start my credit. I was wondering if I can apply for a secured credit card at 17. I have the money already ready.

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paristoys asked:


I don’t want an inquiry to go on my credit report if I get a secured credit card. So I am hoping that the bank that I apply at will not look up my credit report, leaving an inquiry on there.

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David K asked:


I have been an MBNA customer since 1997 and had 2 credit cards with them. One of them was from 1997 and the other was from 2007. Anyway, I had a balance on the one from 2007, and I paid in full, but I did not realize that I still owed interest to them in the amount of $18. I did not pay this amount for 120+ days and they ended up closing BOTH accounts. I called Bank of America (which owns MBNA now) and explained the situation and peititioned for them to reopen my accounts. They did reverse the effect that this would have on my credit report, but they refused to reopen either account.
The primary reason this concerns is me is because Bank of America is such a large bank (and issuer of credit cards) that they have effectively “blacklisted” from receiving any of their credit services. My current FICO score is 707, and I am not in hot water with any other banks and rarely get turned down for credit.
Anyway, I was thinking that to rectify the situation with Bank of America by opening one of their “secured” cards wih the minimum $300 deposit. Do you think doing this would repair my relationship with Bank of America?
I am aware of the consequences of signing up for credit cards on my credit report…and I know it’s unusual for someone with a 700+ credit score to have a secured card. My aim is not to build credit, but rather restore a relationship with Bank of America.
Please tell me if this will be effective. Thanks!

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rubberduckehs asked:


I am preapproved for a secured credit card and I’m going to take the notice to Bank of America and deposit money in there so I can use it. Will they give me a card number after I apply so I can use it until the card itself arrives in the mail? Because I know it takes like 10 days for the card to arrive in the mail if you apply online. Thanks =)

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