Credit score is Going up. Now I have a billion credit card offers?
I have recently been repairing my credit. Now I’m getting a billion offers for various credit cards. Most of which are low limit. In all honesty, my instinct is to apply for all of them. But in reality that would be bad. I want to apply for one. But I have atleast 6 different offers. Can you tell me what I should be looking for in a credit card?
Right now I only want to apply so I can use the low limit to rent a car for the weekend. I know they will take 300 for the deposit for the rental and another 100 for the car. So if I get it just for that I think I should be safe. The 300 will be refunded when I return the car.
It depends on what you need the credit card for.
If yu pla to carry a balance, go for the lowest interest rate. If you intend topay off your bill in full eachmonth, pickone with the best benefits (i.e. rewards points, airline miles, etc.)
You are not limited to what comes to you in the mail; seek out a good card and apply for it.
Throw them all away if you want to stay out of trouble. If you are in the market for a new credit card (ie: to switch companies, or you feel you need a new card) read the fine print. Make sure that the rate doesn’t vary. Also, see who has the lowest rate, and check for hidden fees, annual fees, and how the rates are calculated. Kudos to you for repairing your credit. I went through a similar process and it’s not easy. Don’t get back into the same trap. Use credit only when absolutely necessary.
What sicsors to cut them up with. You’ve mentioned you have bad credit already do you need to tempt yourself again. Or how about a debit card from the bank if your not wanting to carry money around. Carrying a balance on a credit card with rate 20+% even though they say its 0% it will only be for a limited time.
It depends on your needs. But think about it — how many credit cards to you need? One Visa or MC is all you need. They are accepted just about anywhere. So pick the one with the lowest interest rate - and use is reasonably and responsibly. Preferably paying it completely every month.
I personally would leave all of them alone but i do understand that everyone needs a credit card for emergency needs, how ever be very cautios make sure theere isnt any hidden fees, yearly fees, cancelation fees, and some cc. have a fee when u pay an amount off early. But normally the ones you receive through th mail or sent to at least 1 million others around the world,so they may not always mean you are pre approved although they say pre approved . its always a catch to most of them, some of them are just traps to pull your credit back down, and a select few may be very good offers read them carefully and select the best one that fits your needs, but while doing this make sure you are selecting for your needs and not your wants all of us get weak when we see that S with the lines throught it. ex.$$$ also check diffeent credit cards on line ensure the one you are choosing is accepted at most places, just dont apply for more than 1 or 2 hint: every time you apply they pull your credit report and very time it is pulled it takes points away from your credit score. building your credit up is simple maintaining it can be tricky also most will say just pay your bills and you are ok. yes plus you have all the other little things like credit card applications that take away points. I have also seen applications for 15,000 credit card that was never approved remain on the crdit report but it dodnt say not approved it simply states ex. june 7 2007 , visa c.c. 10,000$ and this can look like you owe visa 10K
I guess i have touched way off base of the question, But good Luck and hope this info is useful and helpful.
I read (suze orman’s book) and you really only need 1 but 3 max!! Don’t do any more than that and don’t do department store credit cards. Look over your offers and go online and check each one out. Check out reviews for all of them. Just be credit savvy.
You need to look for LOW interest, no annual fee, and no other kind of misc. fees. I personally like capital one. They have been really good to me and they give credit increases all the time so there is no need for another card.
Just because you’ve received mail offers doesn’t mean you have to accept those. YOu can apply for others of your choosing. If you’re getting offers, chances are you can get a different one.
Get the Capital One card.If you apply for all you will only hurt yourself.
Great, now that those preapproved offers have started to flood your mailbox. But why let them decide what you can apply for? Try to find ones that fits you instead. What you need in a card depends on your spending ability, habits, and whether you desire a low interest rate on purchase/balance transfers, rewards, cashback, opportunities to increase limits, easy upgrades, promotional offers, no/low annual fees, etc… Not everyone is qualified for cards that offer these features. All depending on one’s credit profile/score and sometimes debt-to-income ratio.
Don’t forget most credit unions offer cards with lower rates and higher limits while tradational banks offer only limited options.
Be sure to devise a surefire plan to get the most for your application experience (i.e. maximize approvals, minimize denials while protecting your scredit score). Like the following:
Step #1: Use the links included below to research and select 1-2 credit cards that you’re sure you’ll get instant approvals.
Step #2: Apply online for preferrred Card #1 that offers instant approval for your credit score and profile. Get approved. If not, try applying for preferred Card #2. Hopefully, you’ll be approved so you can move on to the next step.
Step #3: Wait and observe. As soon as the new credit card(s) start to report to the credit bureaus, your score will receive a boost between 10-30 points (if you have an acceptably long credit history, according to ScoreWatch’s FICO Simulator). It might take up to 2 weeks before your new tradeline hits the bureaus.
Step #4: Repeat Steps #1-3 above in firing off applications for several new cards. By this time, your higher score might open up opportunities for more and better approvals (higher credit limits, better rates, perks, etc…). Most folks would agree that applying for a whole slew of credit cards at the same time will create hard inquiries and greatly impact your score. Following this strategy in this order will ensure that the app spree’s damaging effects will be offset by the score increase from Step #3. Since banks are competing for your business, possessing a card prior to applying for more gives you leverage when requesting higher credit limits and/or perks for the new ones.
QUICK & EASY INTERNET RESOURCES:
* Credit Boards (discussion about credit/card offers/debt management, credit pull database),
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* CardRatings (lively discussions about credit cards, offers, debt management) ,
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* Finance Globe’s Score Match (find credit cards that match a FICO score),
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