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| I have lost my home, cannot pay my creditors, ( credit cards, loans, bills) and my ability to earn a living. How can I hide from the collectors?... |
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 My son owes $25,000.00? |
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| Having a credit check carried out by the letting agency which im applying for to rent a flat. Worried about failing the credit check, does anyone know how far back they check when doing this and what ... |
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 Ever stop paying a Credit Card? |
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 How do I get negative things off your credit? |
I have negative items on my credit: collections, inquiries, and delinquint account I have paid some off but my score doesnt go up and on some off them it went down how do I get these off my credit
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xxjavicbr600xx | I am getting a secured credit card to improve my credit, is it better to get one 1000 limit card or 2 500..... |
I am getting a secured credit card to improve my credit, is it better to get one 1000 limit card or 2 500 limit cards from 2 diffrent banks? What will look better on my credit? |
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farrell h
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Secured credit cards are special type of credit cards which are issued against a collateral. Generally a checking account or some other collateral comes into picture while issuing of a secured credit card. The credit limit of a secured credit card is equal to the value or amount available in the collateral. It is particularly rare to get a credit greater than this amount with a secured credit card.
Secured credit cards option are exercised generally by those with bad credit history and poor credit score to get themselves back on track. Credit card issuing companies, ask for collateral because they find providing credit cards to such people too risky. A good use of secured credit card can give the credit card issuer enough confidence to issue an unsecured credit card in your name.
A good thing to have with secured credit cards is that they should report your spending habits to the three major credit reporting agencies. Strange but true, not all secured credit card holders do that. Unless this feature is present in a secured credit card, it will be of little use for those trying to use it for rebuilding their credit history. read more from: http://www.credit-card-gallery.com/article/365,Things_to_watch_out_if_you_have_a_bad_credit_and_want_a_secured_credit_card |
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Chane
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It depends on your situation. If you already have 3 or 4 positive accounts reporting, I would go with the $1000 limit from 1 bank.
If you have less, I would go with the $500 limit from 2 banks.
Keep your balances lower than 30%!!! |
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y4
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Get the highest limit you can on both cards. keep current on both. You never know when you might need some extra. Also your credit score will be higher. 30% max is good advice. |
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Millionster.com
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Having the higher limit is better because it gives you a better credit to debt ratio just remember not to use more than 20% of your total credit so that it doesnt lower your score!
If you have a minute read some of my articles on credit scores on my blog! They might help!
10-Ways to Boost Your MyFico Score
http://millionster.com/articles/debt/increase-fico-credit-score/ |
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Advisor
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Here is a list of credit cards for people with bad credit if you are interested http://www.ccvault.com/credit_cards/bad_credit.php |
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stephen l
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There are many ways to improve your credit including credit repair. . Usually companies charge hundreds of dollars to simply pull your credit and send correctly worded dispute letters—this is the key…..people will tell you that you can do this yourself for free but the truth of the matter is that the credit bureaus will throw your letters away or simply reject them. There is an easy to use online kit that will deliver the results you want available for just $19.95 at the source website. A similar kit is being sold via infomercials and radio talk shows for seventy dollars more but they try to solicit you repeatedly for other services after the fact. |
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Julie
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What does your credit look like thusfar?
You only need one credit card, the limit for you should not exceed your debt to income ratio.
I would say start with a $500 limit, its for one year if you are on time with your payments, it can be increased at that time, with the secured in place or not. That depends on you.
What looks good for you is the fact that you make your payments on time and are within the debt to income ratio and you are not abusing your credit.
And while charging never charge more than 30% towards your card, and pay in off at the end of every month. So charge what you can afford.
Good Luck |
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Margaret K
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Chane has good advice here. Look at your credit report and see what you have as good open credit.
For things like Mortgage Loans, they will look for at least 3-4 trade lines (credit types) and like to have anywhere from 12 to 24 months of good history. If you do not have any open credit right now, the two cards would be good. Just follow the advice you have been given here - Do Not run up the cards, keep them below 50%, make sure you pay them on-time, and keep one paid off and use the other (alternate) if possible. It doesn't matter if you charge $25 a month on the card & pay if off. That will improve your credit. |
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$m¤¤v¥ £¤¢¤
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Chane and Margaret are right to an extent. It would be better to have 2 secured cards from 2 different banks, but to truly improve your score it would help to boost the limits on both. Since 30% of your score depends on how much available credit you have, it would be to your benefit to add to the deposit when you can to increase those limits, so that when they both become unsecured the higher limits will have a positive reflection on your report. Keep in mind, as long as you pay on time and keep the balances below 30% of the available credit, you'll get the deposit back. |
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Gato
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2 cards for sure.
Make sure that you keep each balance at about $150 or less which would keep your utilization down.
Use BOTH of them atleast a little to show some history on both. |
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