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eddie1970

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So many credit problems, so many answers. what is the best advice to begin?
Very poor credit. I only make enough money to live on. Where do I begin. Is a credit building card the right first choice. Thanks

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For the OP, get a credit card, secured or unsecured, most likely in your case a secured one.  Only charge things like gas, or maybe a meal...something you would have done anyways in the course of a month.  Set the money aside and when the statement comes in, pay it all off.  I promise you, your scores will start to move up.  Once you get around 600, apply for a Cap One card.  They will usually approve people with lower scores, high interest rate, low credit line, but it is something to start with.  One other thing you can try is applying for a First Premier card.  It is unsecured, has a ridiculous interest rate and usually only starts you with a $300 limit, but they report EVERY month to all three CRB's.  If you stick to the above recipe, the interest rate won't matter since you are paying it off every month.

I am not making promises, as there is none when it comes to getting credit, but this is how I started rebuilding my credit after my bankruptcy.  I got a Cap  One card 6 months after being discharged.  6 months later I was able to obtain a slightly how interest rate.  1 year later I got a second Cap One card with a much higher limit.  Now I am getting ready to close on a house, 4 years out of bankruptcy.  There was a short sale in there that prevented me from obtaining a mortgage sooner, but that is a different story.

When you dispute an item on your report, the CRB's send a letter to the reporting company asking for verification.  If they get no response then they will remove the negative info from your report.  If it is verified, then only time will take care of it.  Getting a secured CC and charging small items every month and paying if off each statement is a surefire way to get score increases.  Small purchase like everyday items you get anyways, like gas.

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