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Will getting a credit card really raise my credit this much?
Hi, I went to credit Karma and it in it's credit simulator it claimed that I would raise my credit sore from 502 to 688 (!) by simply opening up a credit card with a $1000 spending limit. Could this be true? I've never had a credit card.

I'm 37 and the negative stuff on my record is one derogatory mark for $50 that is almost 7 years old and 10 open accounts (all student loan stuff that is supposedly low impact). Other than that nothing.

If it will dramatically improve my credit that much. Can you recommend a card and how to get it. I'm pretty illiterate when it comes to this stuff. THANK YOU.

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Adding a credit card if you do not currently have one does have a great benefit on your credit. Keep an eye on your FICO scores too.

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cardit card

a credit card will you build credit managed properly meaning don't go over 20% of the credit limit given or go down to 1%.

Building credit is about paying bills on time. Once you show a payment 30 days late the damage is done, the same goes for collection. The only good debts are those being paid on time. And the ones they show most on a report are morgages, auto, personal loans, and credit cards. These are the main four that builds your credit other than maybe a retail funiture rental company.

Every other household bill never reports unless you don't pay and it goes into collection.

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are you behind on your student loans? if you can get them current that will help your scores. i'd be surprised if your credit jumped 180 points after opening one credit card with zero history on the account.  if your student loans are constantly late, that will keep your scores down. it's not a bad idea to get one, but be careful to mange it properly. you'll have to get a secured card with those scores. first choice bank offers one. they report to all the agencies so that's good. youll have to send them the money to open the credit line. i think the mimimum is 200.  to get a 1K secured card you'd have to send them a thousand dollars! then use it for something small every month, and pay it off before the end of the statement so that they report a zero balance with positive payment history. there's no reason your scores can't be 680 in a year or so with some on time payments. 

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