Getting the best credit card requires a little more work than just filling out applications and hoping that you’ll get approved.  In fact, that approach can actually hurt your credit score because each credit card inquiry on your credit history is a negative ding against your credit score.  Therefore, it’s important to apply for the right card the first time.  It’s a simple 3-step process.  Know your credit score, fix any bad credit history, then and only then, apply for the best card within your credit score range.

My husband and I have no credit at all. We cant get loans for jack Someone suggested we try to apply for secured credit card…Ok How do they work? And what is the best way to use it to build credit? Please explain like I am a child because I don’t understand any of it…we just want to get a good credit so we can save for a new car or house.

Also I was reading that one “offering interest free purchases for the first 6 months”.  Does that mean no intrest as long as I pay my monthly balance? Or does it mean in 6 months, I will start to be charged intrest?

What is a good intrest rate?

Say that I put $ 200 on the card, Should I use and pay off all $ 200 of it immediatley? Or should I let a few dollars sit so I don’t have a balance of ZERO?

Answer:

1. You don’t have to wait to get a secured card so you can save. Start saving now!
2. Interest-free for 6 months means you won’t be charged interest for 6 months after the account is opened. After 6 months they will start charging interest.
3. Use the card to buy things like gas and then pay it off as soon as you get the bill. That way it won’t accrue interest, even after that 6 month period you mentioned. There is always a 1 month grace period in which you are not charged interest.

Click here to sign up for a secured credit card. There are NO credit checks.

When I log in, I get a pop up that states:
“In order to provide you with extra security, we occasionally need to ask for additional information.
We need to verify your identity with a credit or debit card.”
It then asks for all my credit card info & my address! & The best thing about this is that I can’t close it out move it or anything – it just blocks half of my facebook page.

How do I get around this? There is no way I am giving them my info.

Answer:

That is a malicious program. Facebook will never ask for those things. Scan your computer with your updated antivirus program. If you don’t have one use these

www.malwarebytes.org

http://windows.microsoft.com/mse

You can also go to http://majorgeeks.com to search for more information. Those guys are experts at removing bad stuff from your computer.

I am the victim of fraud and have several inaccurate charges on my credit, which I am working to remove. It’s lowered my FICO score to 590…not so hot.

In the meantime, I am having a hard time getting credit. I’d like to get a new credit card, but it seems I’m having very bad luck.

Any thoughts?

Answer:

You should wait until your history and credit score is bad in order before you apply for a regular card.

Click here to get your free credit score (no memberships) so you can monitor how your score is doing. You can check it as often as you like without any fee, ever.

In the meantime, you can click here to get a secured credit card. There are no credit checks and anyone can apply. You’ll have to put some cash down to open the account, but payments work just like a real credit card and it gets reported to the 3 credit reporting agencies. A secured card will help you build a good history and FICO.

If you owe it- you owe it. How can these companies “legally” repair your credit?? I am confused?? i went to a website that says they send dispute letters…How can you dispute an account you owe?? How does this work?

Answer:

Those letters challenge the debt. The company has to prove the debt is real within a certain period of time. If they don’t, you don’t owe the debt. It’s like “I double dog dare you to prove I owe that.” It’s a timing gimmick.

The best way to repair bad credit is to make your payments on time so you establish a good re-payment history. Also, don’t close credit card accounts because that will reduce your debt to limit ratio.

A few people I know have told me that they have a “legal” way to improve credit scores anywhere from 50-100 pts for around $ 500, and for around $ 3000 you can get a whole new credit report, and this is all legal and in a sort of “gray area”. I was wondering if anyone knew what this was exactly? how it’s done, and how this is possibly legal??? Thanks a bunch!

Answer:

No, getting a whole new credit report is not legal. I know someone who worked with a bunch of people who were into it. They knew “people” who would modify your credit history and add credit lines with the intent of getting practically anything they wanted like cars, houses, motorcycles, boats, WITHOUT having to put any money down because they had THE BEST credit score and history. Long story short, the FBI caught them and they are currently doing prison time.

You can fix your own credit score by clicking here to get a secured credit card. There are NO credit checks. Everyone qualifies. Then just make your payments on time and within a few months, your score starts to increase.

To make sure you credit score is climbing, click here first to get a free credit score to use as your baseline.

Hey, I’m a college student, with what I thought was fairly good credit based on my age (I’m 21). I have two credit cards right now: a 5 month old $ 300 Orchard Bank secured card and a 3 month old $ 800 unsecured Wells Fargo College card.

The mtvU card is marketed toward college students, so why would they deny me on the basis of “insufficient credit history?” How much of a credit history do they expect me to have if I’m in college? This doesn’t make any sense.

I’m building my credit so that my dad won’t have to co-sign for me when I need to get a car loan.

Answer:

Your age has nothing to do with building a credit history. Just because you’re young and just starting out, you must think you have a “clean slate” by having nothing negative on your history. Nothing negative is a good thing, but not having an established track record is not good.

How much debt are you carrying on those cards? Your debt to limit ratio must be low. If you’re maxing out your cards, that’s not good.

Have you ever been late on a payment? Always make your payment on time. That’s one of the biggest factors in a good history.

How much money do you earn? While your income doesn’t reflect in your credit history, you’re ability to pay your bills does. Income is a factor in deciding whether or not to issue a card.

Also, know your credit score. The higher the better. Click here to get a free credit score check from Credit Karma. There are no monthly memberships or hidden surprise charges. Once you know your score, you can shop for credit cards on the site. They have them grouped by credit score.

I don’t have any credit history so what’s the best credit card for a person like me?

Answer:

A secured credit card because there is no credit check. You have to put money on the account and you borrow against it, but you’re not actually using that deposit. However every time you charge something, your limit shrinks. You have to make credit card payments just like a regular credit card. Each time you pay, your balance goes back up. Making your payments on time is what will establish a credit history. If you default on a payment, it will jack up your history just like a regular card would.

Click here to find a secured credit card at Credit Karma. Click on the Credit Cards link in the menu and then click on the Poor Credit tab on the left side, just down the page a bit, but above the fold.

I mean, how can that information be useful to you since a good score only means you can borrow money

Answer:

It’s not just about borrowing money. It’s also used by credit card companies, utility companies and landlords to determine how credit worthy you are.

Be wary of those credit score ads. Some say they’ll give you a free credit score, but in reality you’re signing up for a monthly service and if you don’t cancel it before it’s due, it will be deducted from your credit card.

There is only ONE place that I know of where free actually means free. No memberships, no fees. Check your credit score for free anytime you want. It’s called Credit Karma. You can shop of their sight for tons of different credit credits. Rewards, points, bad credit, good credit, it’s all there.

I recently applied for an American Express card and it said that I got declined because I don’t have sufficient credit history and that the credit cards that I have have not been open long enough… the question is, how long would long enough be? 6 months?

I recently turned 18 and have 2 credit cards. Payments have been made on time… I believe I applied for the cards about 4 months ago.

Answer:

You haven’t been eligible for credit long enough to show how you’ll handle it. AMEX is a hard card to get.

If you have 2 credit cards, and are making timely payments, you’re on the right track. Don’t charge more than you can pay for…the long answer had a lot of good advice, so I won’t repeat it all. And you probably don’t need any more credit cards, except maybe a gas card for security.

Just be patient. Building a good credit history takes time, and you just haven’t had the time yet.