Some back ground first.
i’m 54 I’ve never used credit of any kind in my life. I paid cash for my house. I used to own three restaurants that I paid cash to open. My last restaurant I failed and ended up with a tax lien. After I closed it down I needed a car so I went to carmax I got a car but it came with a 29% intrest rate. That didn’t set right, so I paid it off in 6 months, I shopped around for another car with a cheaper rate ( I ened up with a lot of hard pulls) The next car I got for 9% I decided I wasn’t going to pay it off so fast and try to build from there. I figured I’d try the secured card thing. After a month It didn’t set right to have 5 grand tied up so I cancelled both cards after a month. Six months later I got as letter in the mail from Capital one for a pre approved. It wasn’t asking for a secured deposit, so I figured why not. Well I got the card and was put into the credit steps program with a credit limit of $ 100….what?..lol…I spend more than that in a month on cigars. So I’ve been using this thing for three months and I pay the balance off every week or so just trying to use the card. I’ve never had a balance when the statements come in. I make 75,000 a year and this card is really a pain in my butt. I’m trying to play the game to build my credit score. I don’t even know if it’s even worth the hassle to owe banks money. Any thoughs or guidence with be welcomed.