What is the best credit card to start my credit?
Q. I recently turned 18 and im in a great living situation. i live with my dad, make about 1000 a month and im a musician. I wanted to buy a new bass and amp, but more importantly need to start my credit. I already have the money to buy the bass today, but i wanna see if i can start my credit with this purchase.The stores i went to say i need at least a 700 score to apply for their credit. Is there any credit i can apply for, without having to pay financing and apr and so on without having credit to begin with. My plan is to buy the bass with credit, pay it off right away, and probably cancel the card right after.
Asked by chaos_magician13 - Thu Jan 25 18:09:06 2007 - - 9 Answers - 2 Comments

A. From what I understand, for the long term if you consistently make your payments on time, Chase is the credit card company that improves your credit rating the best. This information came from my mortgage broker during our first consultation when applying for a mortgage and discussing credit reports. For someone just starting out, your goal will be to find any reputable credit card company willing to offer you credit and be diligent about paying off your entire balance every month so you won't have to worry about the APR. Quickly, a few months to a year, they will raise your credit and you will be able to access other cards that have the low APR you truly want. Do not choose any credit offers that have yearly membership fees or… [cont.]
Answered by jelloisyummy - Thu Jan 25 20:14:45 2007

How do I establish credit and become eligible for a credit card?
Q. I cant get a credit card due to the fact that I have no credit. They say you cant get credit with no credit, ok? Are there any useful tips or information as to how I can build credit and build it fast. How can I become eligible for a credit card?
Asked by Shreads - Fri Jun 4 17:30:40 2010 - - 5 Answers - 0 Comments

A. Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments - credit-report-free.totalh .com
Answered by Greg - Sat Jun 5 20:42:33 2010

How can I get my credit card company to report account information?
Q. I got my credit report today and it shows that my total credit amount is $300 and I have $296 available. After further inspection I noticed that only one credit card had reported a credit limit/max balance and that all of my credit cards hadn't been reported since April. Is there an effective way to contact the credit card companies and get them to report accurate and up to date information to the credit bureaus? I feel that this issue is affecting my credit score, so I would like to fix this. Thanks in advance.
Asked by awill110 - Wed Jul 18 19:56:13 2007 - - 6 Answers - 0 Comments

A. They only report every 6 months. Some do it sooner, but that's rare.
Answered by ZinaRae - Wed Jul 18 20:00:50 2007

What business credit cards are not attached to my personal credit?
Q. Hello, I am trying to find out how to build my business credit without being attached to my personal credit score. I would like to know if anybody has information regarding what credit cards are available to do this. I would love any free information or links to sites that can tell me how to build my business credit. Thanks!!
Asked by Erick R - Sun Feb 17 21:13:19 2008 - - 7 Answers - 2 Comments

A. People think once they screw up their own personal credit the next thing they can do is have a business and get credit that way but it doesn't work like that. Your personal social security number and credit rating are going to be used to extablish credit when you start out and even well beyond. Added Reality is as a beginning business you are NOT going to go out and secure credit using an unknown/ unestablished business name or identifying number!
Answered by Rebecca - Sun Feb 17 21:17:28 2008

How many credit cards is too much to affect your credit score?
Q. I am going to ask another question regarding which CC should I add to my credit card profile to add to my rewards. I have excellent credit, pay my balance in full each month, and I use my CC to pay for everything I can to rack up points/miles etc. I am at a point where I want to increase my points and miles so there are some options. The question is, what is too much. I basically share a VISA with my wife, and have an older VISA that i keep. I realize that you should keep older credit cards for history. I want to add at least one AM/EX either the Starwood points, or the Delta Miles. I also might switch our Cap1 card to the signature to get 2 points for every $1 spent, instead of 1.25 for $1. That is a new card, not a switch. And… [cont.]
Asked by ronnin72 - Mon Mar 12 21:00:44 2007 - - 6 Answers - 0 Comments

A. You could have 50 cards and as long as you kept them in good standing, low utilization, no lates, etc. they won't hurt your scores - you would take small dings for inquiries though. If you are adding 3-4 cards, and you already have a good card portfolio that has fairly good history, the inquiry dings should be small. After 6 months the inq's will be less of a significance on your scores and at one year they will have no impact at all. Available credit is not debt. I can see only one card that you currently have that is probably keeping your scores from actually being higher than they are now. That would be the Cap One card. Cap One is notorious for not reporting credit limits, they only report high balance - that makes it look like you… [cont.]
Answered by echo - Mon Mar 12 21:15:52 2007

Can credit card companies close your accounts without warning? How does it affect your credit score?
Q. I received a letter in the mail from Juniper (iTunes Rewards) stating that they have closed my credit card account due to inactivity. I opened the account about 18 months ago and have never actually used it. Can they close my account just like that without any warning? How should I handle the situation? (Is there anything I can even do?) Also, I know that closing credit card accounts lowers your credit score. Does anyone know how much mine will be affected?
Asked by Sara - Tue Dec 23 21:34:21 2008 - - 6 Answers - 0 Comments

A. Canceling a credit card can ding your credit because part of your credit score is based on something called a debt-to-credit ratio. When you cancel a credit card, you lower the amount of credit available to you, making that ratio look bigger (and more risky) to creditors.. 15 percent Length of Credit History: "In general, a credit report containing a list of accounts opened for a long time will help your credit score. The score considers your oldest account and the average age of all accounts." 35 percent Payment History: "Having a long history making of payments on time and no missed payments on all credit accounts is one of the most important items lenders look for
Answered by Stealth - Tue Dec 23 21:55:55 2008

What credit card can I apply for that does not check credit?
Q. I am attempting to build a positve credit rating and I need a card that reports to the credit bureau, but will allow me to obtain it without a credit check. HELP?
Asked by sayyeahh - Wed Oct 10 15:41:00 2007 - - 6 Answers - 1 Comments

A. You can't get a credit card that will report to the credit bureaus that doesn't do a credit check first. If you don't have good enough credit to get a normal credit card you may end up with what's called a secured credit card. Which means that you put a security deposit down and in exchange you get a credit card to use. And then as long as all your payments are on time and you don't go over your credit limit they'll give you back your security deposit usually after about a year.
Answered by Ovelia - Wed Oct 10 15:51:34 2007

What kind of credit card could I possibly get with having horrible credit?
Q. So my credit score is something like 562. I am looking to get a credit card with something like 2000 dollar limit or lower that wont have unbelievable fees. Does something like this exist? I've applied for credit cards over the last year and have been denied each time. Yeah, my credit sucks. What can I do?
Asked by God Country America Bush Freedom - Wed Jul 21 12:07:29 2010 - - 2 Answers - 0 Comments

A. Every time you try to get a credit card, the inquiry reduces your rating. It is usually only 1 or 2 points, but if you have bad credit it can reduce it up to 5 points. You will not find a card with a $2,000 limit. The best you can hope for is one with a $250 limit. Problem with a limit that low. Any time you use more than 30% of your available credit limit you are destroying your rating. Ex: $250 limit - never use more than $75 at any time during the month on that card. And, of course make sure you pay a credit card in full for top ratings. Carrying balances on credit cards can destroy credit very easily. There are some cards, but I consider them scams. A certain bank has a card. $250 limit $95 annual fee $75 proceesing fee $10 monthly… [cont.]
Answered by Judy - Wed Jul 21 12:15:05 2010

What should your credit score be to get a good credit card?
Q. Is it 600 or above? I am working on fixing my credit and I have an auto loan that will help rebuild my credit. I need a credit card for emergency's and to help my credit, just wandering when I should apply for one. Right now Its not near 600.
Asked by wifey - Fri Jun 1 22:54:19 2007 - - 1 Answers - 0 Comments

A. 700+
Answered by Gretchen - Fri Jun 1 23:01:17 2007

What is the best credit card to apply for to rebuild credit?
Q. I have a pretty low credit score (597) and want to begin rebuilding my credit. The score is low from charge offs about 3 years ago. Is there a certain bank or credit card that is easier on people like me that will give me a credit card? And yes--I do plan on paying on time. It would be for small simple purchases that I would otherwise buy with cash and could pay off easily each month.
Asked by elmdee - Tue Jan 8 00:50:07 2008 - - 6 Answers - 0 Comments

A. Try HSBC credit cards. Specifically Orchard Bank credit cards specialize f/ people trying to rebuild credit history. Expect low credit limit though more than likely with any credit card company.
Answered by envy - Tue Jan 8 01:06:49 2008

How high can my credit score climb if I have only credit cards in my credit history?
Q. My current credit score is 745 and I've built it solely by using credit cards and paying on time (but never had any loans). Somebody told me that the abscence of installement-paid loan will prevent my score from climbing much higher. Is it true? Should I take some consumer loan to boost my credit score since I am planning to apply for a mortgage in the near future?
Asked by Layton - Mon Mar 8 03:48:29 2010 - - 1 Answers - 0 Comments

A. You don't need an installment loan. More often than not, they pull you DOWN. Who told you that? If you are looking for the free credit score national site, check out this site Here you can check your 3-in-1 Report from all three credit reporting agencies and your credit score rating for free, fast and secure. Hope this help,
Answered by Tomek - Mon Mar 8 10:21:22 2010

What is a good credit limit for a first credit card?
Q. I got my first credit card a couple years ago via Bank of America, and my current credit limit is $9000. Since I don't have any experience with credit cards in the past, I'm wondering if this is good or not? Is there anyway I can increase this limit? What do most credit card limits start at?
Asked by Michelle W - Sat Oct 4 04:41:57 2008 - - 7 Answers - 0 Comments

A. 9000 is a very good credit limit, definitely dont try to increase it because that puts an inquiry on your credit report which causes your FICO to lower. most people think the higher their limits the better their credit and this isnt true(it does effect it slightly but there are far greater ways to raise FICO). one thing to definitely keep in mind is that if you feel you will never need 9K limit; call and get it lowered, this doesnt hurt you at all and is a good idea to protect yourself from identity theft. people get these ridiculous credit limits and dont realize how appealing that is to ID theft. but to answer your question the best way to increase it without putting an inquiry on your credit report is simply to not use the card at… [cont.]
Answered by sam19zzaz - Mon Oct 6 19:35:52 2008

Are credit card protection plans good for really really old people?
Q. They typically run .99 per $100 and the deal (supposedly) is that if after 90 days of coverage, the cardholder croaks, that they credit card amount owed is forgiven. In the case of elderly people in not the best of health and with large credit card debt ($5000+) is this a good idea? You'd basically be paying $500 a year and betting that you're going to be keeping a high credit card balance and that you'd be likely to croak relatively soon.
Asked by petra - Fri Dec 5 12:14:29 2008 - - 5 Answers - 0 Comments

A. Most of those plans have age limits. So, it's unlikely that they would be available to anyone older than 70 - btw what is your definition of "really old?" Just curious 'cause I'm over 50! LOL In general, those credit card protection plans are ripoffs. It makes more financial sense to buy regular old term life insurance. Much less expensive, and it covers anything you want it to.
Answered by doreen k - Fri Dec 5 13:00:21 2008

What impact does closing credit cards have on your credit score?
Q. What impact does closing credit cards have on your credit score? I have a number of credits that I am not using. What impact if any would closing some of these accounts have on my credit score?
Asked by hydra1970 - Sun Aug 26 14:36:21 2007 - - 5 Answers - 1 Comments

A. Part of your credit score is based on your debt to available credit limit ratio. When you close accounts, you lower the available credit and could end up with a higher debt percentage. So yes closing credit card accounts will hurt your credit score; however, your score will rebound quickly. Another factor is that closing your oldest accounts, closes your history. Keep the oldest accounts open as long as they don't charge an annual fee. Personally, I think keeping credit cards you don't use open just for the sake of a couple points on your credit score silly. All those extra cards have too much potential for problems. You have to keep track of them and keep them secured. I recommend not more than two major credit cards --which you… [cont.]
Answered by bdancer222 - Sun Aug 26 15:51:01 2007

How to get a credit card with no credit and no checking account?
Q. I'm young with no credit and no checking account. I've been looking online and have only come across debit cards or credit cards that require a checking account. Where and how can I get a credit card w/ no credit and no checking account?
Asked by mommy's princess due 8.8.09! - Tue Dec 9 14:40:59 2008 - - 5 Answers - 0 Comments

A. Actually most banks give you a credit card when you open a checking account. If you are 17 or older you can get a student checking account with a debit card. The reason they want a checking account is because statistics show that people that don't have checking accounts are more likely to default. If you are under 18, you can not get a credit card. /
Answered by Judy - Tue Dec 9 14:46:54 2008

Closing a credit card account that is inactive? How much will it affect my credit report?
Q. I've had this account for about two years, and I haven't used it in a long time, and I'm thinking of closing it but I don't know how it would affect my credit report. This is a secure credit card, with only a $300 limit. I have two other credit cards that I use a lot more often and I've been very responsible about paying bills on time.
Asked by jenahfah - Sat Feb 24 13:49:01 2007 - - 4 Answers - 0 Comments

A. If nothing else, use it for a small purchase at least once a year and pay it off. If you do not use an account for 12 months, they might close it on you anyway. What hurts your credit the most is abuse, failure to pay, or using more than 30% of your limits. If you have three cards and pay them off each month, then spread the debt out so that no one card exceeds 30% of its limit. Having a card even with only a $300 limit, is $300 worth of credit. As soon as you close it, your available credit drops by $300, which could hurt you. If any of your cards are charging annual fees, consider getting another card with a higher limit and no fees. After you get the boost of the extra credit limit, then close the card with the fees.
Answered by JD_in_FL - Sat Feb 24 13:58:11 2007

How do I establish credit without a credit card?
Q. Credit cards are becoming more and more picky about extending credit, and the interest rates are through the roof. What are some other ways I can establish solid credit without a credit card or major expenses? I go to college full time and work full time, I don't want to get into heavy debt.
Asked by yage v - Tue Jun 24 11:25:38 2008 - - 8 Answers - 0 Comments

A. I agree with those saying to get a credit card - find one, such as capital one, who offer low limit cards, starting at 250 dollars, to college students. You will pay some fees, but pay the card on time for 6 months (put simple recurring bills such as groceries on it and pay it off in full each month) and after the 6 months ask to be switched to a no, or low fee card. I would also apply for a small signature loan with a credit union, and a small deferred interest federally subsidized student loan if possible. This will build additional credit history and cost you nothing as the government pays the interest and payments until you are out of school. Drop it in your savings account and reap the rewards of some free conservative investment… [cont.]
Answered by dylan w - Fri Jun 27 03:59:50 2008

What is the best credit card for an 18 year old?
Q. I am only getting a credit card so that I can make small purchases and pay them off right away to build my credit. Please do not lecture me on how to use a credit card, I am already fully aware. I just want to know which credit cards have the lowest rates for an eighteen year old with no credit. Thanks in advance! If you are just going to answer "none' don't bother.
Asked by alilley07 - Wed Dec 5 12:18:42 2007 - - 11 Answers - 0 Comments

A. As long as you're responsible and pay off the purchases ASAP you won't have to worry about interest rates. I've had a card for 5 years and the only time I paid interest rates were my first few months before I realized you could pay off your balance more than once per month. Good luck!
Answered by jmattiesmufc - Wed Dec 5 12:50:15 2007

How do you get a credit card with bad credit?
Q. I am trying to pick my credit score back up off the floor and have heard that you can do this by applying for credit cards and making the payments on them. Nice! Except, I went through a divorce and my credit is now lowsy. I pay all my bills on time and have a decent job, yet credit card companies don't give me the time of day. Does anyone know of a company that will work with a credit slacker like me?
Asked by Heedie - Wed Nov 12 11:37:01 2008 - - 5 Answers - 0 Comments

A. Aply for a credit card of a small amount i.e. $300,00 at capital one or your bank, saying you need a credit card to purchaise things trough the internet. After maybe 2 months they put your credit up ond so one. After that your credit repport will be better recognised and you start to have better chances.Like I do I allways pai in before the time and sometimes i put my credit card in credit of 100,00 pounds to schau Them I'm a honest coustmor.And sometimes when I go to the bank they offer me credits and I have a low ballance money in the Bank, but allways in credit. Good luck.
Answered by Jos62 - Wed Nov 12 12:02:12 2008

What is the best credit card to apply for for the first time?
Q. I have years of excellent on-time rental history, however I have no credit because I've never been in debt (always pay bills on time) go figure. I was wondering which credit cards I could apply for, for the first time. Wal-Mart Credit card rejected me because I have no credit, and I'm just looking for something small so I can put things on the card and pay them off quickly to establish some sort of credit. Any suggestions?
Asked by flori0009 - Sun Sep 30 08:24:15 2007 - - 6 Answers - 0 Comments

A. i think this is the best one to know about credit cards
Answered by sam k - Sun Sep 30 09:28:03 2007