What’s the best credit card to get to help rebuild credit?
Credit Card
Ann_DFW asked:
I want to get one credit card to rebuild credit. What’s the best one right now. I hear Capital One is a really bad one. We filed chapter 7 after losing a business and get tons of offers. I don’t plan on using it other than to just keep a small balance and show good payment history. We are working on getting back into a house in the next year. We sold our house to avoid foreclosure and are currently renting.
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I want to get one credit card to rebuild credit. What’s the best one right now. I hear Capital One is a really bad one. We filed chapter 7 after losing a business and get tons of offers. I don’t plan on using it other than to just keep a small balance and show good payment history. We are working on getting back into a house in the next year. We sold our house to avoid foreclosure and are currently renting.
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March 15th, 2009 at 3:46 am
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If you have any funds in a saving account, perhaps you could convert that into a secured credit card. Make sure they report it to the credit bureau. You could also to get a secured loan for $2000.00 for 24 months and pay it back in 12
March 16th, 2009 at 12:50 pm
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Not to be critical, but even though you get tons of offers, it doesn’t sound like you’re going to be approved.
My thought though would be the lowest interest rate one you can find w/ no fees. Capital One isn’t particularly worse or better than any others, all banks have their happy customers and their detractors - I love my AmEx, but you won’t be able to get one of those until your credit’s better (and if you already BK’d out of an AmEx, probably never
)
March 18th, 2009 at 11:32 pm
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a gas card. low interest and it’s a revolving credit account that helps rebuild credit as long as the account is open and paid. plus it’s really hard to get deeper in debt.
March 21st, 2009 at 2:27 am
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First premier has a few options
March 21st, 2009 at 2:51 am
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I would have to say Citibank this card has no annual fees and set up fees, check out and go under bad or no credit section and you will find it plus compare all major credit cards side by side but if you are trying to rebuild your credit Citibank will be the best but once your credit score gos up you could apply for a better one with rewards.
March 22nd, 2009 at 8:11 am
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your best bet is to actually get an unsecured card, suck up the application and annual fee (i’m not talking about the 300 dollar ones that leave you with a 50 dollar balance)
check out orchard bank, they extend credit to people out of bankruptcy with reasonable fees
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