Now, If I were you I would apply for a CC. Make sure that you read the terms of the card and understand them. Personally, I like Orchard bank b/c they are really good about reporting your payments monthly which really benefits your score. make sure you keep your balance under 40% of your limit and make sure to always pay ontime. Once you boost your score with this CC you might want to consider opening another card or possibly taking out a small loan. This will give you a nice mixture of credit. I would also suggest using one of those companys that pulls your score once and tells you all of the cards you qualify for in order to reduce inquirys
hi Javon
Credit score is zero means that you do not have a credit history at all. So all you need to do first is to build a good credit history. For this if you do not have a credit card, get one from any of the credit card companies first. Then start using it to make regular payments like monthly utility bills etc. with the card and repay the money to the cc company in time. Initially for a year or so if you continue like this, I think you will have a good credit score. But never miss any payment, as if a missed payment gets listed in your credit report from the beginning, it will stay there for seven years and will lower your credit score.
I don't think that you will get an unsecured credit card without a good credit history. To start with a credit history, you need to apply for a secured credit card which is not difficult to get. The difference between a secured and an unsecured credit card is that in case of unsecured credit cards you need not make any deposit with the credit card company. But in case of secured credit cards, you need to deposit some 200$ or more with the bank and you get credit limit equal to the amount deposited.
All you can do is go to a site and apply, there are some that will give you a shot, I had a few that gave me cards when my credit was awful. As mentioned above, make sure that you read the fine print and keep a copy of the original contract so that you have your proof that you have made the payments, never know what the future holds. So if you get one, make your payments on time and keep track of what you put on the card or cards. Don't go nuts, just because you have some credit.
I agree with you goodnatured. But since Javon has no credit history, it is always better to go for a secured credit card first to built a credit history as he will get a low interest rate in a secured credit card. Moreover, if he has a number of unsecured credit cards, it will give him incentive to use them. These unsecured credit cards mostly comes with high interest rates and if he is not able to pay it back in time, his credit history will be bad from the very beginning.
Do you have security to put up on a card? Some may require a couple hundred dollars that goes into a savings type account as security. Then once you charge and pay for a while then they will release the restrictions.
Have you tried 'Secured CC's'? That's how I established good credit history. I had a CC that were 'Secured CC's'. After a good credit history with the comapny, they sent me a Non-Secured CC with a $300.00 limit. When you search for these kind of cards, just be careful on what the contract states. Make sure they report to the CB's, etc. You will be surprised how your credit will improve. :)
The first thing that you need to do is know how credit is scored. You can read a quick explanation of that process here:
http://www.homecreditrepair.net/id76.html
Now, If I were you I would apply for a CC. Make sure that you read the terms of the card and understand them. Personally, I like Orchard bank b/c they are really good about reporting your payments monthly which really benefits your score. make sure you keep your balance under 40% of your limit and make sure to always pay ontime. Once you boost your score with this CC you might want to consider opening another card or possibly taking out a small loan. This will give you a nice mixture of credit. I would also suggest using one of those companys that pulls your score once and tells you all of the cards you qualify for in order to reduce inquirys
hi Javon
Credit score is zero means that you do not have a credit history at all. So all you need to do first is to build a good credit history. For this if you do not have a credit card, get one from any of the credit card companies first. Then start using it to make regular payments like monthly utility bills etc. with the card and repay the money to the cc company in time. Initially for a year or so if you continue like this, I think you will have a good credit score. But never miss any payment, as if a missed payment gets listed in your credit report from the beginning, it will stay there for seven years and will lower your credit score.
I don't think that you will get an unsecured credit card without a good credit history. To start with a credit history, you need to apply for a secured credit card which is not difficult to get. The difference between a secured and an unsecured credit card is that in case of unsecured credit cards you need not make any deposit with the credit card company. But in case of secured credit cards, you need to deposit some 200$ or more with the bank and you get credit limit equal to the amount deposited.
All you can do is go to a site and apply, there are some that will give you a shot, I had a few that gave me cards when my credit was awful. As mentioned above, make sure that you read the fine print and keep a copy of the original contract so that you have your proof that you have made the payments, never know what the future holds. So if you get one, make your payments on time and keep track of what you put on the card or cards. Don't go nuts, just because you have some credit.
I agree with you goodnatured. But since Javon has no credit history, it is always better to go for a secured credit card first to built a credit history as he will get a low interest rate in a secured credit card. Moreover, if he has a number of unsecured credit cards, it will give him incentive to use them. These unsecured credit cards mostly comes with high interest rates and if he is not able to pay it back in time, his credit history will be bad from the very beginning.
Do you have security to put up on a card? Some may require a couple hundred dollars that goes into a savings type account as security. Then once you charge and pay for a while then they will release the restrictions.
credit
Have you tried 'Secured CC's'? That's how I established good credit history. I had a CC that were 'Secured CC's'. After a good credit history with the comapny, they sent me a Non-Secured CC with a $300.00 limit. When you search for these kind of cards, just be careful on what the contract states. Make sure they report to the CB's, etc. You will be surprised how your credit will improve. :)
ZrBZQTCybVUYP
qH0XAo I really enjoy the article post. Really Great.