Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
Calli0506

0 Contributions
0 People Helped
Finding Credit Card
Would like to know which card is best for building up your credit score, something with 0 annual fee and low interest rate, which card would help me?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
20 Contributions
54 People Helped
Most Helpful Response

Maybe a secured card

Helpful to 1 out of 1 people

I might go with a secured card. I have used this method before and it seems to be best (if you are rebuilding). Then you just have to maintain it properly....... watch your scores....... and after a while when your scores are better, apply for a regular card that fits what you need.

Top Contributor
7372 Contributions
3811 People Helped

You have not had a credit card before?

If you have not had a credit card before, it is not very likely you will be able to get one at a low interest rate.  Only by showing that you are responsible with credit card usage will you be able to qualify for the lower rate.  

Instead, get a secured card that can later convert to a "regular" card.  Use it wisely, paying off the balance after the statement comes in every month.  You won't need to care what the interest rate is because you won't be leaving a balance in the account that may accumulate interest. 

Because I had a bankruptcy 20 years ago, I didn't have any credit so a secured card helped me then.  My next cards had interest rates of nearly 20% but I soon qualified for a 0% interest (for 12 months) card with a higher credit limit (more than I'll allow to build) that I used to consolidate my credit cards, which are now in a safe.  The interest rate on purchases right now is 12.99% which is still not the "ideal" but it's much lower than the others.  I'm making substantial payments on this card that are getting the consolidated balance paid off quickly and will have the purchases paid real quick, too.

Patience and frugal use oif whatever credit card you may have will earn you the privilege of additional credit benefits as time passes.

Hope this helps.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.