credit cards
How many of my credit cards must be a balance?
I have 5 credit cards with different values and I am in the process rates.I to pay for all, but I know you must be a balance on their credit cards in good health. How many cards should be a balance and how be used? @ Stephen, if I do not balance, then what is the point of having credit cards to start? How do I build credit history?
Review the terms of accounting to see if / when you charge a fee for dormancy. After a zero balance on all would not be bad for your credit score, but it is better to show future creditors that you make monthly payments and managing credit responsibly. At this stage, you make payments of different cards and that shows in his report. Once you pay a bill, the report will show that they are payments to others – what is good. Focus on the payment of an account, then use the card if you charge fees for inactive after so many months – use it for something small to buy anyway, like gasoline, and the balance in full by the due date and just do it for many months to avoid the inactivity fees. To repay the debt, a specific approach. Prioritize your debts, make the minimum payments on all debts except # 1 in your list. Once the debt is paid, take what they paid for him and put a # 2 on the list. There are approaches to prioritize liabilities, less the balance, the interest rate the higher, the minimum monthly payment. the lowest balance, bill payment faster. More interest you will save more money in the long term. The best way of monthly payment of money published the next debt. Each of these approaches are valid. Below is an Excel template that can help determine the best way to repay the debt may Scenarios execute and display the dates of payment of accounts and the total amount paid for each scenario. The best way to use a credit card for balance below 30% of the credit limit and pay the entire balance each month. This builds your credit and avoid interest charges. Once free any debt of all letters, make a plan that works for you and for the card to use for this.
New to credit, i have no credit history!?
Ive just immigrated o the US from the Uk , i had gret Uk credit history, but now have to start from scratch in the US, im 20 years old, not a student and currently waiting for employment authorisation from the US government, i live of my savings and my wifes salary, i applied for small store cards and have been rejected, just tried for chance that i may be accepted for capital one that my wife referred me to and way denied, how else can i start from scratch if they dont let me get any credit, im not looking for high annual fees or security deposits, are pre paid visa/ mastercards helpful when trying to build credit? Any information you can give will be greatful, am i more likely to recieve it from the bank which we have for checking and savings? thanks in advanced!
pre paid will not build your credit history since thee is no risk to the issuer, as the amount loaded is the limit set, it is in effect a secured card
so you best option is to go with a secured ( by deposit ) card
the only one that is reasonable ( fee wise ) and works ( after 6 months it goes to unsecured once timely payments have been made ) is the one by Bank Of America
all other have high upfront fees or charge the first 200 to 250 as you first charge ( this of course is a fee )
and high aprs
do not buy one of those free high credit mail order or web order catalog cards
those that give you 300 or so of instant credit
they do not report payments to any of the 3 credit reporting agencies
they do however will report negative information should you miss a payment to them
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