Question by Rickey A: how to build my credit score fast, i just got a 0 secured card.?
i have absolutely no bad credit whatsoever on my credit history, but in the same sense i have no good credit yet either… so i took out a small loan for $ 500 and have made 3 montly payments, all early so far… next i obtained a master card from capital one secured at $ 200 and charged up to $ 101 and made my first payment today for $ 30 and this payment wasnt due until 4 more days.. i hear different advice, one is keep the balance and just pay more than the minimum, other is always keep a small balance and pay more than minimum and finally one said charge a small amount and pay in full every month early.. i need to know the best, fastest way to build my credit, please help i have the means to do it anyway possible… thanks so much
Steven F you sir are wrong !! You might want to take some of these cool peoples advice..
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Article by Blake Hendrickson
Often when someone has had the bad luck and bad circumstances to find themselves in trouble with their credit, it is tempting to try to right the situation by answering one of the following familiar taglines: “Credit problems? No problem!”, “We can erase your bad credit – 100% guaranteed!”, “Create a new credit identity – legally!”, “We can remove bankruptcies, judgments, and liens and bad loans from your credit file forever!” These promises and assurances can be very seductive when one is in the throes of a credit nightmare, but not all of these promises are worth trusting, and some of those assurances could get you into bigger trouble than you were in before.
Often credit card debt comes from circumstances that, as consumers, are beyond our control. Access to credit can be a heady and sometimes dangerous perk. Before most people know it they can end up deeply and dangerously in debt. Quick fix answers will not always (or more accurately, barely ever) really help relieve the stress and damage of bad credit. Frugality, conscientious spending and careful planning are the only things that can truly reverse the terrible effects of bad credit. However, even these tactics take time, sometimes years, and can put a terrible financial strain on those trying to pull themselves out of debt.
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Question by KB<3: who has a great secured credit card?
if you have a great secured credit card, do tell me where you got it.
i have no credit and I need it bad, at least enough to buy a used (Mazda3 2005-2006) car by the end of next year.
so if you have a SECURED, I cannot get an unsecured with my lack of credit…tell me what to get from your own personal experience.
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Question by raven1984: My husband and I are thinking about taking out a loan to pay off credit card debt and medical bills.?
Our house is paid for and his parents think it is a bad idea to take out a loan for unsecured debt in trade for secured being the house. Though this would save us about $ 500 a month to be able to not have o put anything else on cards and just pay cash?? Good idea or bad and if so what type of loan should we get??
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Question by : Is a secured Credit card a good idea?
If so, then how exactly do they work? I am wanting to raise my credit score very badly! and I cant get a loan for anything, so this seems like the only option. Is it a bad or good idea?
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Question by lookingforanswers: Credit issues and thinking about a secured credit card?
I have made a lot of bad choices in my life and have fell on hard times before. I now want to clean everything up and live a better life. I am close to $ 30,000 in debt between credit cards, a repo on my car, evictions, bad checks, medical bills, and other crap I have done in the past. I have thought about filing bankruptcy but I don’t think that will help all my issues (like the evictions), so not sure if it is even a good option for me. The last time I started to clean up my credit I had an unsecured as well as a secured credit card and a loan for my car. I ended up being laid off and not having any savings. So I lost everything (including the apartment I was renting). Because of my decisions I lived in a homeless shelter for 3 months with my kids. I now have an ok job but live pay check to pay check. I always worry about what I would do if I had to move, due to credit issues and evictions it was hard enough to find this apartment.
I can’t even get a bank acct to save money if I wanted to. I have tried to pay the bank back but that I am sure will be a question in itself (they sold it to another company that wont send me a statement, they just want me to send a money order with out a statement). I have though about doing a prepaid credit card (not a secured credit card) just so I don’t have tons of cash on me at all times.
Any suggestions on how to start getting out of debt would be appreciated, or am I just skrewed for the next 6 years or so (it has been over a year since my last evictions or credit anything). I know some of the stuff I did when I first turned 18 well be falling off my credit history, but I doubt that will really help my score much (but I do look forward to seeing it gone). I know I can’t live in this apartment for 6 years as my son and daughter will be too old to share a room, so I need help with the evictions problem (I may put that in a separate legal question).
If I had a secured credit card before and defaulted on it would that prevent me from getting another? Also would it help my credit situation at all having a secured credit card? I know I can afford to send about $ 300 off on the 1st to process the card, but that is money I usually have saved in my purse for expenses in the middle of the month, so I would have to charge those expenses. Would running the card up to the max credit each month be bad IF I pay the entire balance each month? Maybe after a few months with out having the cash in my pocket I wont have to use that money as much and the card wouldn’t be ran to the max, but because I live so close to pay check to pay check it is hard. I am also in school and will be done in about a year and a half (so better job then). Any advice would be appreciated. I will be 25 in 6 weeks and I want my life back and bad (ok horrible) credit is stressful and in a way has prevented me from doing anything to better my situation.
I know my credit issues are my fault and I have learned my lesson, but now I want to know if there is anything I can do about it.
I also forgot to mention my credit score (almost a year ago) was from the high 400′s to the very low 500′s (the highest was 516).
Last bit of detail for now is some of the debt that is on my credit is reported two or three times by the same collection company. I did file a dispute but it doesn’t seem that the dispute went through. Would getting these duplicated debts off my report help any? I guess my opinion is no matter what I do i will have bad credit and nothing short of having $ 30,000 and pay it all off will help.
Again, any advice is appreciated, thank you.
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Question by Arei: What type of credit card should I get?
I’m 18 years old and I’m looking to establish credit. I don’t have any bills that are paid in my name.
My mom has really bad credit, which made securing a loan in her name impossible. With the economy how it is I haven’t been able to find a loan I can take in my name because I have no established credit, so I’m going to have to have my grandmother sign on my student loan.
I would like to have some credit established by the time I get out of college, so I figure I should start with a credit card.
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Question by *: Should I use a credit card to pay for graduate school?
I need to attend school this fall. I am not eligible for Federal student loans. My credit score is bad. I am trying prosper.com but I am not having good luck.
I will apply for Orchard bank secured credit card.
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Question by Jens choi: Do credit card companies give mail advertising credit cards to people with bad credit?
I just got mail from Discover and they offered me a credit card service. Would they do that to someone with bad credit?
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Question by Ashlie: What credit card companies offer cards for people with bad credit?
I have made some bad financial decisions in my life and as a result I have horrible credit. I am looking for a credit card company that will issue me a card in order to rebuild my credit. Are there any companies that don’t have an outrageous interest rate that will help me get my credit back on track?
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