Dec
31
2009
What’s The Best Credit Card To Help Repair My Bad Credit?
Posted by: Alan in Credit Repair, tags: Best, Card, Credit, Help, Repair, What's
I’m recently working on getting divorced & my credit was terribly hurt because of that. My bank is working with me to help me recover, but I am looking for a basic credit card, not necessairily a large line of credit, and one with REASONABLE fees and interest rates. Also, looking for credit repair services that really work and that areasonably priced.
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December 31st, 2009 at 6:55 pm
I would to have to say honestly that I wouldn’t do that if I were you. I would not go in that direction. I wouldn’t want to be in your shoes when the bill comes in for that credit card(s) start coming in cause in the long run you will have you self A NICE HUGE STOUT HOLE DUG AND it will take a long time to dig your way out, and then it will take you a much longer time to really get any kind of credit and NOT JUST WITH A BANK . My husband & I did it once with a gas card thought we were smart . In the long haul of it all it took forever to pay it off cause IT’S LIKE HAVING ONE OF THOSE REVOLVING accounts & when the bill arrives, IT COME IN WITH LARGE FEES AND percentages attached TO THEM too !! It may take awhile to rebuild your credit with you being single but you would be better off waiting awhile than to place yourself into that kind of debit especially with a divorce and all. BE PATIENT AND WAIT THAT’S MY ADVICE. I DON’T BELIEVE YOU would be very pleased if you place yourself in that kind of debt !!
December 31st, 2009 at 7:44 pm
I’ve answered this one a bunch of times, please check my history. I’d suggest the Bank of America or Wells Fargo Secured Credit Cards. There are some FANTASTIC newsgroups here on Yahoo about credit that tell you exactly how to fix your own credit. They give you samples of letters you can send. You should NOT pay anyone to this since you can do it yourself for free. If you’ve got money to burn you can shop around for local lawyers that specify in this matter but based on your question, I suppose you don’t.
December 31st, 2009 at 7:54 pm
The best thing you can do is NOT get a credit card. Get a debit card from the bank or a prepaid card if you need a card to pay bills.
ALL credit cards are a ripoff if you have terrible credit already.
December 31st, 2009 at 9:42 pm
I to suffer from terrible credit…I have thought of obtaining a credit card with a small line of credit also. The problem but is that most credit card denie individuals such as our selves. Also, with high interest rates many seeking to revive their credit only end up in credit card debt. When seeking a credit card the interest rate is usually higher for someone without outstanding credit. Basically, to become debt free and to secure your credit it takes time. But some credit companies work with individual companies to remove itiems that are deemed excuseable…Excellent luck!
December 31st, 2009 at 9:56 pm
I reckon an American Express card that you have to pay the balance at the end of the month and doesn’t allow you to carry balances over. Makes you reckon twice before charging something really expensive if you know that you won’t be able to pay it off at the end of the month.
January 1st, 2010 at 12:57 am
go to Suze Orman’s website or check your library for her books.
She gives excellent non-biased financial advice, and I wouldn’t necessarily trust your bank to give you impartial advice that serves your best interest not theirs.
My understanding of credit repair services is that they harm your credit record because they mean that your creditors agreed to take less then they otherwise would have gotten.
January 1st, 2010 at 6:34 am
Sorry to hear about your situation.
Pick a credit union. They have better interest rates.
Use bankrate.com to shop for credit cards with competitive rates and perks.
Do not pay anyone to repair your credits. There are non-profit organizations funded with your tax dollars to help you get credit counseling. Google for one in your area, talk to them first before paying anyone to fix your finances.
Hope this helps.