 Have bad credit,financial problems,need help re-establishing credit for better future? |
| have good jobs but we are barely getting by have no options and no finances to work ... |
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 Can not get a cridet card? |
| I have a friend trying to apply a cridet. But seems like no creditors aproved. She is been trying to get a credit card, what does she need to do to get it?... |
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 Credit collection problem? |
| I owe a bank $2,000 it was originally 1,200 but because they put a judgment against me it went up. I have no money and own nothing. They know this and still keep asking for money.Now they want to ... |
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 How does *depositing* money at an ATM work? Is it posted online instantly? |
| There's an ATM in the lobby of my apartment complex and for the first time in what seems like ever, I noticed you could DEPOSIT money from an ATM. But how exactly does that work? If I were to go ... |
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 How do loans work? (HELP) |
B'cus I do motocross and for the new season I could really do with a new bike, i'm getting a job very soon but won't be able to pay for the bike until end of next year probs.
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 Credit card debt already in collections...? |
| I have about $5000 in credit card debt; it's been about 8 mths since I paid any on them. I was out of work due to an auto accident. I want to pay them so consolidation or bankruptcy is not an ... |
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 What are the consequences of Cancelling an active Credit Card? |
| ...an active Credit Card but unused. and how to do it.(online/phone)... |
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 Should I let credit cards go to collections? |
| My hubby and I had to have some major repair work on house (pipes& sewer) last July. It cost us $12,000 to repair, and we had no choice but to put a majority of that on our credit cards. Our ... |
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 Is 4% fixed over a 30 year period a good rate on a home loan? |
| I got this offer in my email from http://get-a-home-loan.n and was wondering if this is a good deal or not?... |
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 I have a bad credit history what should I do? |
| When I was 18 I took out a capitalone credit card and got 200 bucks instant cash and took it to memphis tennessee and blew it all at a hippy festival. Now I'm 27 and I have 20,000 dollars worth ... |
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 Isnt direct debit meant to be free ? i am being charged 15p per dd by my bank.? |
Additional Details
im never overdrawn, its only a service account for wages to be paid in, but i always have the amount to cover my dd, aint it illegal to charge for dd ??... |
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 Credit card question!!!? |
| okay, so i just got a credit card, and i am a teenager in High school (grade 10). This is a normal credit card, mastercard. I was wondering when i use it (at restaurants, malls etc), do i just show ... |
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 How can I establish credit? |
I will be 18 on June 27 and would like to establish my own credit so I can get a cell phone plan and start looking for a house.
What is the easiest way to establish credit?
A... |
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Alexandra F | About to turn 18 and I want to establish credit. What's the best deal on credit cards? |
I've already been getting credit card offers in the mail and I have no clue which is the better deal. I don't understand anything really about interest and APR or anything... Can anyone help? |
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lpslc
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Check the interest on each credit card before using it. It can vary alot. We found Chase is pretty good. Sears is horrible as well as alot of others. |
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?
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Capital One is a good one. Look into that one but be careful when i was 18 i got a few and got very irresponsible with them I had to file bankrupcy at the age of 21. |
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Garbage Kills Megan
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If you want a credit card simply to establish credit, I really recommend only spending money that you already have, and always paying off your card completely, every month. You don't want to start debt at such a young age. So many people do.
Anyway, even though you are getting offers that might say you are approved, you many still get turned down if you try to apply. There aren't many options if you have no credit at all. A good way to start credit is to get a card that is specifically for a store that you shop at a lot. There are also options out there for students, if you are going to continue school after you finish high school. Most credit card sites can tell you the information about student cards. Just remember, if you always completely pay off your balance every month, your APR doesn't matter. |
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Gabrielle
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stay as far away from credit cards as you can. credit cards are the devil. you can establish credit by having your parents add you to their credit cards - authorizing you - if they have good payment history. you can ask to be put on as a co-signor to your parents loans, those kind of things. |
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Zak
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The best thing you can do to establish credit at the age of 18 is get a gas credit card and pay it off monthly.
The fact that you are asking about interest rates means you are already off to a bad start. Your credit card should ALWAYS be completely paid off every month (it doesn't matter what the interest rate is or what anyone else says) or it could lead to really bad habits and kill your credit.
Also, get your parents to put your name on their credit card (authorized user) and then hide the card in a place you will never find it. |
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robert w
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Do like being a slave ? Banks/ credit cards are Pimps.
You do the work they take your money.
visit DaveRamsey.com to learn before you get shafted.
Learn cash is king, Debt is for slaves.
You could become a millionaire as long as you stay away from Ccards. Why do banks have Big Buildings
same Reason Pimps have bling. |
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vickieski2001
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Sometimes when you first start out you dont get the best deals on interest. But you dont have to worry about that if you use the card and pay it within the 30 days. Now I know some credit reports dont count the credit unless you actually use it and pay on the balance. I know one person, used the card only to the amount they knew they could pay by the end of the month, then she paid all of it but 10.00 to leave a balance, there was little to no interest yet it clicks in creating credit. Try store charge cards they are easier but BECAREFUL credit can be the worst thing that could ever happen to you,no one thinks while they use it that is has to be paid back and it piles up fast.
APR is annual percent rate... each state has a maxium of APR on charge cards such as Indiana could be 19.5 percent while Ohio could be 23% this is the highest they could charge you. But if you become good with your credit companies will offer you better deals. Never take a card that has an annual fee. there are SO many companies trying to dump charge cards on you that i would be patient and wait for the one that has NO fees.. what an annual fee is they will charge you a fixed amount (could be 50.00 could be 100) each year just to have the card even if you dont use it.
now back to APR. lets say you get a 20.%APR. you get your first statement and you have 100.00 in charges..Now if you pay it all off there is no interest. But lets say you paid only 50.00 ...now you have a balance that will be left of 50.00 that you did not pay. So what they do is multiply 20% to the 50.00 which is $10.00 then they divide by 12 (that is where the annual comes in annual means 12 months) 10..00/ 12 = .83 .. your interest on that 50.00 will be 83 cents...
another way is if you buy a car, you might need a co-signer but it is good credit..even if you have all the money in cash. by getting the loan making so many payments will create credit.. yes you end up with paying some interest and would be cheaper not to but you are building credit
good luck and never finance more you can repay.. that is the KEY |
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the_dog
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Start by looking over the disclosures chart they always send with the offers. The only two I really look over is the APR and "method of computing the balance for purchases". The "APR" is your annual percentage rate...usually anywhere from 9.99% to 18.24% or more. It's kind of like when you get a loan, and the charge you interest. The APR is kind of like interest on your charges. When you get your first credit card it may be on the high end. After you have established yourself with a company, you can call in and tell them to lower it because you have a good history or you will cancel it and/or go with a better offer (and don't be afraid to switch credit card if you do get a better offer). I don't really know too much about the "variable APR"...just try to make sure that is as low as possible, too. The "method of computing balances" should be an AVERAGE daily balance. You DO NOT want a two cycle daily balance, because that is like getting charged twice for an interest rate.
You can find good ones without a membership fee. Keep your purchases small and pay them off regularly or entirely at once if at all possible. When you get your bill, and if you can't pay all of it, pay more than the minimum payment, because most likely all that minimum payment is, is interest not principle. And you want to pay off your principle (your purhases). Just keep in mind that while the money may be in your bank, you still owe that much on your card. If you are responsible with it, you can make it work.
Another way to establish good credit, is to look into financing. Go to the bank and look into taking out a VERY small loan, just to build credit. You can also finance things like furniture.
Good luck! |
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Steve M
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If you can be really be financially responsible and pay it in full every month you don't have to worry about APR or interest and you can actually make money from the credit card companies. Paying in full every month will give you good credit. The way to make money is use cash back credit cards. I have a Chase card that gives me a straight 5% cash back on grocercies, gas, and drug stores and 1% on everything else. I don't think there is anything that good available to new applicants but there are many reward cash back cards out there. Look around.
Another thing you can do if you want the best 'deal' to make money from credit card companies is get as many as possible with 0% APR introduction perdiod on purchases. Buy everything with these cards. Then only pay the minimum but have the money to pay off the balance when the 0% APR runs out in a high yield savings or money market account. I would recommend HSBC's online savings account, currently at 5%. This way you make interest on the money you owe them. You just have to make sure you don't spend it on something else before the introductry period runs out, else you're screwed. You could also do a balance transfer into your savings account, but they will charge you 3% transfer fee which is not worth it IMO. Also, this will hurt your credit at least temporarily. |
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Ashley P
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I have Capital One and I think they are good... I'm 19.. |
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frenchfriedfrogslegs
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A debit card that's tied into your savings account. So you can only spend what you have in your account. As interest rates are way to high on all credit accounts.{ Its like a prepaid credit card } |
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