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| *Loan,banking and credit>>>credit score |
Which credit card is best for building up a bad credit score? |
I have A LOW credit score. I am in the process of paying off debts to try to repair my credit. There are numerous credit card offers that claim guaranteed approval for a fee. Iwould like to use any tactic available to help buildmy credit. I am however affraid to fall victim to the "SCAM". Does any one have a possitive experince or advice on the options or other techniques for rebuilding credit. There are a couple of options... You can try a gas company card. They tend to be great at approving lower credit score applicants and helping them re build credit. Another is getting a secured card through your bank. A secured card is where you put down the money for the balance that you want , i.e. $300-1500 and the bank holds those funds and then issues you a credit card. You still make payments on the card if you use it just like a regular credit card. After a period of time making all of your payments on time (usually 6months - 1 1/2 year) the card will be upgraded to a normal credit card and your initial funds will be reissued to you. If you close the card or default on your payments prior to the card upgrade the card will be closed and the funds re issued to you. Another card that will approve a lower credit score is Orchard. Their website is orchardbank.com. Good Luck I used Orchard bank and First Premier when I was rebuilding my credit several years ago. Yes they have fees and high interest rates but if you use them wisely by only buying everyday things and never going over 30% of your credit limit in any given month and paying them off in full before the due date it's worth it. Finance Manager for over 7-years. i would recommend that you clear up your credit file of ALL erroneous items. this will help you to present a 'clean' credit file to any potential creditors. Bank of America has a great secured credit card to build up your credit. it's like 99 down....and a 500 limit. 29 annual fee. i havent seen anyone who can beat this...but you still need to qualify for it. The ones I would suggest for bad credit and I have both of these cards is First Premier Bank or Orchard Bank. They both do have annual fees, but they are easy to get and will help improve your credit. http://www.consumerbadcreditguide.com/... |
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