This topic contains 2 replies, has 1 voice, and was last updated by Anonymous 8 years ago.
- May 14, 2011 at 7:43 am #211136
…right away? I have seen Amazon gives $40 back on a purchase if you accept to open the Amazon Rewards Credit Card, but then, they have a full list of fees you have to pay so, according to what I read, having the card is just another stupid way of losing money… Do you know if I can open the card, do 1 purchase, get the 40 dollars back and then just cancel the card?
- June 24, 2011 at 5:38 am #328754
if you find yourself stuck between a “rock and a hard place” in regards to your credit, there are many things you can do to build a solid credit record. Many of these things are similar to what you could do if you had bad credit.
If you have lived in the same home for at least a year and held a job for the same period of time, you may qualify for small lines of credit with department stores and other businesses within your local community. Make sure these businesses report your account information with the three national credit bureaus or you will be wasting your time using their cards to build your credit.
The interest rates on many store cards may be higher than a typical credit card, so make sure to keep only a small balance on any of these cards you may have. It’s often a good idea to avoid paying off your entire balance so you can build a repayment history for your fledgling credit report. As long as you don’t max out your cards and make your required minimum monthly payments you’ll be fine.
Another way to build credit is to take out a small loan from a local credit union or bank where you are a member. If you can avoid it, don’t use the proceeds of the loan except to repay the debt. You will pay a small fee in interest but that’s often a small price to pay for building your credit.
Once you’ve established a credit record and creditors can see you have no problems paying off your debt you may start receiving offers from major credit card companies. You could start getting all sorts of mail from Discover, Visa, MasterCard and even American Express.
Be careful about applying for too many lines of credit. Most lenders will check your credit history when you apply for credit and each inquiry is noted on your credit report for at least six months. Too many inquiries are a red flag to creditors that you may be financially unstable. Your best bet would be to apply for no more than one line of credit every six months. Read more about it at:
- June 24, 2011 at 6:32 am #328755
Bad credit is one of the worst problems to have… however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is a straight to the point ebook with question and answer I found :
if it helps kindly remember me in your voting!.. cheers!
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