Credit Card to Improve Credit Rating ?
okay so i have bad credit. it was suggested to me that i get a credit card and make sure to pay the bills on time and then that would improve my credit. what do you guys think ? i have never had a credit card before.
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DO NOT UNDER ANY CIRCUMSTANCES GET A SEARS CREDIT CARD.
They charge 24% on Sears card.
They do offer a Sears Master card at 14%. Still not a bargin.
Make your car payments on time, the credit rating will improve from that.0 -
quote:Originally posted by vess1
I got a guy at work that pays his card off every month, pays cash for vehicles and has never had a mortgage, in his mid 30s. He automatically thinks his credit is perfect. Without ever looking at his report. In reality, it CAN'T be. Not having car payment history, not having mortgage payment history hurts your score. It doesn't improve it. [/quote]
I have no mortgage, no car payments & the only credit record I have is utility bills & the credit cards I pay in full each month.
The last time I bought a car I paid with a check & they ran a credit report on me. He showed it to me & it said I was in the low 800s.
I thought that was based on a scale of 1000 & asked why it was so low. The salesman laughed & said I could sign for any car on the lot or even a half dozen if I wanted them.
I use my no fee credit cards for most things I buy & pay them in full as soon as the bill arrives. That way I get the rebates & the float plus it helps if you have any problem with the purchase.0 -
Credit cards are for the most part sucker bait. Granted they are nice for emergencies and that's all i would use them for. 0 -
My brother tried to get a Cabela's credit card and COULD NOT GET ONE. He had no credit history (at 40 years old) and couldn't even get a card. 0
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