Rather than pay all the signup, annual, etc fees to get a Visa or Mastercard, is it easier and just as good to go after department store or gas charge cards when trying to rebuild credit? What are the Pros/Cons? Thanks
Any positive credit and payment history should help. Department store cards have an interest in your business beyond collecting fees and interest. Once you establish one, it should make it easier to establish the next.
Retail cards are typically an easier route to building a credit profile, because the stores they are offered through have an interest in you buying more of their stuff. Another step in the right direction is to look for a secured Visa/MC, which of course has a deposit. But if you really can't muster up the $200 to get one, I guess retail is the only way to go.
of the major US retailers, whose card is easiest to acquire? I could use a Home Depot, but wasn't sure if I'd qualify.
I've had a Chevron card since like 1993 and what I love about it is that you can set up an auto check payment system where they will deduct your minimum payment from your checking account. When there was no such thing as the internet, this was a great feature. I would just charge the card once every couple of months for a few bucks and never had to worry about forgetting to pay it. I use cards like these to establish and build credit, I don't have them to use on a regular basis.
