credit cards

kc2005ptgt · Post by **kc2005ptgt** » Wed Nov 07, 2007 2:30 pm

There is a CC company that deals with first timers, etc... it has an annual fee, and high intrest rate BUT no co-signer, LOW balance, and low penalties -- plus they are a credit building CC Co. which I guess means that they do something for your credit reporting... I dunno, but I do knwo I went from a 15.4% APR auto loan rate to a 6.6% APR in 18 months using only them.

And yeah, buy something, something that you would pay for with cash, and then go home, write them a check, and send it out that day. My parents told me to do that and I did, and yeah, IT HELPS. A CC Co. will only report activity and no activity looks bad, whereas a large balance looks bad as well, BUT lowest limit and constant activity looks great.

If I remeber the name of the CC Co. I will post it here... Household, Orchard and New Millenium Bank are a few that are credit building.

Also, read this:

http://www.pueblo.gsa.gov/cic_text/mone ... record.htm

Adionik · Post by **Adionik** » Wed Nov 07, 2007 2:32 pm

Man I hate shipping shit out with envelopes..I'd much rather use a debit card. But i'm trying to get a CC through my bank, but they haven't gotten back to me! I should call them and see what's up.

03blackrt · Post by **03blackrt** » Wed Nov 07, 2007 2:36 pm

Use a credit card for gas and pay off the balance every month. that's what I did.

kc2005ptgt · Post by **kc2005ptgt** » Wed Nov 07, 2007 2:39 pm

^^^ That's the best thing to do -- if you use cash to pay for gas, use a card and go home and pay it off that night - btw, better get use to paying for some things through the mail.

03blackrt · Post by **03blackrt** » Wed Nov 07, 2007 2:43 pm

Most of the time I also used my credit card to pay my cellphone bill online... then go to the credit card website and pay it off with a bank transfer.

Crashin · Post by **Crashin** » Wed Nov 07, 2007 2:52 pm

Just be careful with paying off right away, American Express is setup if you have a $10,000 limit and charge $10,000 on the first billing day and pay it off the same day, you will have a $0 limit for the remainder of that billing cycle unlike other cards that free up that credit as soon as the payment clears. We found that out the hard way when we were developing our basement, figuring this would be a great way to earn air miles we put everything on the American Express and always paid it off the same day but $10K isn't hard to hit when finishing a basement (especially with a theatre room) and then went to buy a case of beer and was denied yet I should have had a $0 balance...