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My credit pretty much sucks


spjunkies

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get a couple of cards

one visa/mastercard [ get one without a fee]

also get a couple dept store cards, Walmart, sears pennys etc, use them once pay off and do not use them again and DO cancel them. That will build you credit

The forums at Credit Boards should be able to help you zero in on a card that you will be able to get approval on. They deal with this kind of issue (though usually the low credit score is for negatives) all the time.

Do you still go to school? If so, a student card should be easy.

I'm not in school so that won't work for me :(

I had ONE freakin collection account that I paid off in 06, but that was it.

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I'm not in school so that won't work for me :(

I had ONE freakin collection account that I paid off in 06, but that was it.

That makes things a little harder, but Credit Boards can probably still help you. Browse a bit, there's a lot of advice on how to get credit with bad scores.

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I got a Chase mastercard with no credit and a $600 credit limit (no annual fee or anything like that). They increased it to $800 in just a couple months. You should probably check with them. Why are you just now getting a credit card?

Because every time I apply for one I get denied and I read that can have a negative impact on your non-existent credit.

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I had ONE freakin collection account that I paid off in 06, but that was it.

I suspect this has MUCH more to do with it then lack of credit.

Here is what I would do. Dispute the collection.

Simply dispute it and claim you don't remember it. They have 30 days or so to respond with proof. MANY times, since it's been paid off, they won't bother sending in the paperwork. Then, it's gone.

Worst case, it stays on and you are where you are today.

You should apply for 1 or 2 cards. But nothing will make it jump up except paying your balance every day. If you CAN get that removed, it will jump up 20 points are so.

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Here's the dish with credit.

Its based on a number of factors- Heaviest being payment history, then amount used of available credit and then account reporting. There are other factors but those are the most weighed. Having no credit history say one account wont get you a high score. what you will need to to is get a gas card for Mobil, Sunoco. Reason being they are pretty liberal with thier lending guidlines and they wont get you into huge credit limits. Start slow with credit and dont pay the minimum if you can. Don't take credit just cause your offered it. Start simple with one card or a small credit union loan for 1k and pay it right back.

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Because every time I apply for one I get denied and I read that can have a negative impact on your non-existent credit.

Not true.

Getting rejected doesn't hurt your credit.

The number of times you apply CAN hurt, however - if you apply all at once for the same thing (I.E - A few different Credit Cards), it basically gets registered as one application.

This is done intentionally to let you shop around for best loan rates, best credit cards, etc.....

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This site is worth a look when shopping for a credit card. http://www.cardratings.com/ Get a couple major credit cards without an annual fee. Do not put more on them then you can pay off each month. And you will build up exceptional credit over time.

The collection will hurt your score for quite some time, but as time goes on will have less and less negative impact on your scores.

I recommend to stay away from the store cards.

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The number of times you apply CAN hurt, however - if you apply all at once for the same thing (I.E - A few different Credit Cards), it basically gets registered as one application.

This is done intentionally to let you shop around for best loan rates, best credit cards, etc.....

Actually, this is only partially true. Multiple mortgage or car loan applications count as one inquiry within a certain period, but each credit card application counts seperately.

Inquiries only make up a small part of an overall credit score, though, usually.

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Actually, this is only partially true. Multiple mortgage or car loan applications count as one inquiry within a certain period, but each credit card application counts seperately.

Inquiries only make up a small part of an overall credit score, though, usually.

Ok. Makes sense.

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My Equifax FICO score or whatever is 618, the site says it's that low because I have no credit history.

Thing is I'm trying to get a credit card so I can get GTA and a PS3 in April. Am I pretty much screwed in trying to get a card or should I go for it?

maybe you should use cash on that :)

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There are credit cards you can get. Whatever you do, do NOT use more than half your credit limit and try to make certain that the credit company is correctly reporting your limit. Some cards, I've seen it with Capital One in the past, will report that your limit is whatever debt you are currently holding. That will damage your credit. You it reported that you have less debt than half your available balance and that you are paying on time.

Do that and pay your bills and your score will improve relatively quickly. Also make certain all collections and outstanding debt are paid.

Sites like this one can help you find a credit card you can get:

http://www.creditcards.com/choosing-the-right-credit-card.php

research them before you go for anything.

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