Question for ppl who know closely just about credit cards?
I have no credit, and call for to establish some. I am a 20 year old college student and trademark $9 an hour. I need a credit card that let me get credit. Here are my choices:Capital One(R) Platinum for Students
Capital One(R) No Hassle CashSM Rewards for Students
and the relationship for the site where I found them:
http://www.creditcards.com/college-stude...
any comfort with choosing one would be greatly apprecieated.
Answers: I work within the credit card industry making decisions to any approve or deny people credit adjectives the time. Since you're a college student, normally I would speak about you to go for the student cards, but since you're working segment time, what I would suggest is opening a secured credit card. The prevalent difference between one of these and a student card is that with the secured card a deposit which is used as collateral is placed upfront to establish a credit rank. For example, if you deposit $300, then your credit dash is $300. The deposit is usually linked to a stash account which can earn interest while you're building credit. Not merely you're able to increase your credit hamper easier with a secured card, but you're also starting an emergency fund that you can use a moment or two later on down the queue.
A perfect means of access to use the card to build credit without getting yourself into trouble would be to generate SMALL purchases ($20/month max), pay it sour on time every month and donate to the deposit to increase the credit line. Increasing the credit stripe while keeping the balance salaried, also helps build credit becuase it creates a cushion between the available credit you hold and what you're using. By you putting up the deposit, it gives you even more incentive to be disciplined to conduct operations the account because your own money's at risk. Usually after a year of paying in good time, the card upgrades to a regular card and the deposit is given back, which you can use as an emergency fund, which can be really willing to help especially while you're in college.
I posted several links to some secured cards that will help out.
Capital One stinks because they offer no reward program and awful customer service, IMO.
Check out the Citi Bank cards because they hold a great Thank You reward program.
Check out the source, that website I listed is amazingly reputable among the student credit card industry and offer EVERY credit card available to a college student. Check it out.
unfortuneately since you hold NO credit getting approved isnt going to be easy. Even if you are a college student.
You will probably own to get a secured card. A well-mannered one I recommend is First Premier Bank. they have an annual tax that already comes charged to the account.you reimburse that off and never use it again, after 12 months close the vindication before the annual payment accrues. You will build solid credit history this opening.
After 12 months your credit score will be high-ranking enough to qualify for a better card.
I wouldnt jump with Capital one at adjectives...Poor customer service, and horrible intrest rates.
Maybe start at your bank, beside some small signature loans, or a jewelery store.
Credit Unions usually have flawless programs for young adults trying to establish credit, near fair intrest rates. See if you can become a associate of any local Credit Union. Good luck.
Does anyone know a good consolidation company for consolidating credit card debt?
Answers: That is an oxymoron :-) We did that and it didn't save us money or get us out of debt.
We are following The Total Money Makeover (book by Ramsey).
Below is from his website and we have found it to be 100% true!
Debt Consolidation Myth: Debt consolidation saves interest and you have one smaller payment.
Truth: Debt consolidation is nothing more than a "con" because you think you've done something about the debt problem.
Debt consolidation is dangerous because you treat only the symptom. The debt is still there, as are the habits that caused it. You just moved it! Our counselors will not recommend debt consolidation for a client.
The reason that we do not use debt consolidation to get out of debt is because it doesn't work. You end up paying about the same amount, which doesn't really help you pay your debts off faster. Most people end up taking on more debt after consolidation and several end up in bankruptcy.
I dont trust any of them they hurt your credit score terribly and most say they are free but they take alot of money. Dont trust creditsolutions.com they suck.
I enjoy a credit sound out.?
I am purchasing a home and when my credit was pulled it indicated that I hold a loan from 2002 "unsatisfied" under the status category. I own proof that it was rewarded, so I do I get that taken stale of my credit report so the next time I want to have my credit report checked for a purchase, that this is no longer going to be on it? I appreciate anyone's help out with this!Answers: There are two ways. The best, is to contact the nation who issued the original loan and own then correct the status. If that doesn't work, at hand are only three credit most important credit reporting companies. Appeal to the one that has the incorrect information and own them correct. You're entitled to one free credit report a year. Use it to check your credit report annually.
Fastest solution is to have your Loan officer run a nippy rescore using the proof you have.
Now, you will probably enjoy to pay for it. Typically its 25.00 per tradeline, per bureau and it will be updated in 72 hours.
If time is not an issue, as the previous answer stated. Send proof to the credit bureau and let them know its affecting your resources to get a loan
The best route without costing you a bunch of money is to return with your free credit report at annualcreditreport.com then contacting that hard to please creditor with the proof that it be paid and ask it to be removed.
If they do not reply/respond within a timely fashion it have to be removed per the credit guidelines.
If it still won't be removed by contacting them directly, then contact the credit bureaus, experian, equifax, and transunion to fashion sure it's off respectively credit report for each of the three. They will forward the info to them by your doing the dispute and it will be removed that beside with the proof that you enjoy.
Then it should take comfort of it.
That's how you can remove any other things that are incorrect or what have you, and works newly fine doing it that way most of the time.
Only piece is, just preserve all your documents when you are doing it including whatever their response is and the date they respond since they're supposed to respond and manipulate the issue promptly otherwise it's removed automatically.
You can check those guidelines on the bureau websites or on www.ftc.gov/credit too.