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US Bank.
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Jose O | Is this a good way to build good credit? |
I have absoulutely NO credit history so I went to american express and applied for the AMEX Green Rewards Card which is a charge card with no preset spending limit and I got accepted and the card is on it's way I was wondering if this was the best card I could have gotten considering it is my first one and I want to build good credit if not great and if I pay the bill in full every month on time approx. how long will it take to get good enough credit to get a credit card? I was thinking 2-3 months any answers will be helpful THANX. |
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RickyRedwood
 |
You are aware that AMEX charges an annual fee for their card and you MUST pay it in full each month. Right? |
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Lady Mala
|
Any credit card is fine. All you have to do is pay the bill on time every month. Consistency builds credit. It'll take a little longer than a couple of months. Anyone can pay for a couple of months. 6 mos to a year. Sorry! And don't charge more than you can pay! |
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David S
|
go to your bank and ask the for a secure loan for an amount of $1000 or more for 12 months or more.
do the same thing with other 2 banks.
make a payment for 12 mo min ..and you will be so happy to see you have built a great credit lines.
my brother done this first time he came to USA,and now he been receiving a lot of credit offers. |
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corey s
 |
All 1st credit cards have high interest rates
Just make sure this card has no annual fee and pay the bill off ON TIME EVERY MONTH
In about six - eight months apply for a second card with a much better rate and watch your credit score jump to the 700's
after that 2nd card get an installment loan and pay it back and your credit will go higher |
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N K
|
Actually a set credit limit card is better than no preset one. Besides the fact that AM Ex Green is a charge card with an annual fee and will not allow you to carry a balance (you ave to pay in full), your credit utilization will always show 100% which is bad. Your debt to credit limit ratio should be under 30%. I suggest you try applying at capital one or chase and get a pre set credit card with limit like 300-500 and use it. Am Ex Green has a fee, you are aware of that I hope! |
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M K
|
The American Express Green Rewards Card is a charge card, not a credit card. The main distinction between the two is that with charge cards you have to pay the entire balance every month. Be careful though; Amex is sensitive if you are late with payments with their charge cards. I was late two seperate times with payments, and they canceled my card. I think that you were very fortunate to get this card without having had credit before. Normally you need to establish six months of credit before shopping around for a new card. Capital One credit cards for fair credit would be the next step after you have established more credit.
http://creditwish.com |
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mal.tjb
 |
it'll probably be about 6 months because they only report to the credit bureaus every 2-3 months. you got a great card for a 1st credit card though. i hope that helped! |
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Joshua R
 |
It will take time. Credit will be established with in 2-3 months but it won't be a perfect rating. The rating also looks at consistency so after keeping that up for a year or two you will have a really solid credit rating. Patience, it is not fun but it works! |
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Peter G
 |
Credit will be established within 1-2 months but it will not be a good credit or a perfect one to get a good credit card. It will take almost 1 year to 18 months to be shaped into a perfect one. But if you can maintain good credit dealings during this time it will be established.
http://www.creditcardbiz.blogspot.com |
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Darryn J
|
if you know anyone who has a local business
and they sell stuff you use or need ask them for a account
once you get you account purchase some thing on it.
go back in next week and pay your account off in full
with in week you have a 100% credit rating even if its the local grocer it doest matter, if you have account in 2 or more place its even better.
this does work, when you go to you bank for a loan you list them as reference,
when the bank rings to check on you, you have a great credit rating
hope this helps
Darryn
www.vmdirect.com/hconnect |
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alphameega
|
Is it Ghostbuster 2 ? |
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