Hello, I do not have any credit cards. I have no lines of credit that are open. In fact, even though I have had them in the past, they no longer show on my credit reports. I finally looked at the PG credit reports today and it is not good. There are so many mistakes, and general f**k ups that I am at a loss where to begin. I'm reading like crazy here. Anyway, my question is should I apply for credit cards while I'm working on repairing my credit or should I wait until it's all done with? I am looking to buy a new car immediately and need to fix as much as possible. Thank you, Jane
It's best to fix it first. You probably won't get any like it is. Anyone can get a car with enough of a down payment and high interest rate. Wait if you can.
I agree, fix it first, then look at getting credit cards. The only ones you will probly qualify for you wouldnt want anyway.
Well I would say, as a bill collector and former telemarketer of First Usa cards, do not get any of them unless you have a substantial savings, like 2-3 months of expenses. This way, if you loose your job suddenly, you won't have to cry harrassment when I call to remind you to pay. I am not on a high horse or here to troll as some would say. I have credit problems too, just for lack of credit and not bad stuff. The best thing I can say is get some secured credit cards that report as unsecured. This way you don't loose any money, its a deposit you can get back eventually, and you slowly rebuild your credit. Whats better, paying out the wazzoo for % or putting down a little deposit as an investment into your future. Take that creditboards (inside joke, they ban all the intelligent ones).
It depends on your situation I proritize things. 1. income 2. budget 3. self control 4.responsibility most people here repair and rebuild after a harsh lesson and past poor judgment, myself included. when I was younger I wasn't as responsible, I thought I had freedom to charge away and pay later, and boy did I learn an expensive lesson I ended up having no room in my budget left not even for a small emergency circumstances changed as with most people and I was barely able to keep my electricity on, I couldn't keep up something had to give and I ended up with a few collection accts that haunted me years until recently. I paid for years due to calculated interest, I thought I would never see the light at the end of the tunnel. so after all was said and paid I decided to listen to my fathers advise if I didnt have the cash to pay for it I had no business buying it. I used this method for over 11 years. now I'm trying to establish credit and its hard when your report shows nothing at all no negs no positives I take the words to heart buyer beware to each his own you know what you are capable of I would start out real SLOW so you don't jump back into the same mess. I have one dept store card now and I charged only 20% of my credit line to keep my fico high and ensure that I am able to pay the entire balance if need be not just the minimum. calculate your budget then go from there.
