Cards To Build Credit

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Cards To Build Credit

Category:Credit Repair

You’ve been thinking that you need to start building credit and would like to know where to start. There are three credit card accounts that we recommend that can help you get started. They report to all three CRAs. These cards don’t have the good perks, but they will help you get there.

Secured Credit Cards

The Discover it® Secured credit card is only $200 to secure, $0 annual fee, you get 2% percent cash back on purchases and Discover matches your cash back total for your first year. There, of course, will be a low $200 credit limit, but you can start using it just like a regular credit card. So just charge some purchases and make your payments. When you close that account, to get better card accounts, you get your $200 back of course. Apply now.

One great idea to use your new cards is to buy some groceries and pay them off quickly. That way you aren’t spending any “new money” to build credit. You’re buying groceries anyway.

The next card is good for people who are trying to get a home mortgage. This is the Open Sky secured credit card with no annual fee. There is only a $200 upfront security fee. What’s interesting is that the Open Sky company does not pull your credit reports so you don’t get a hard inquiry on your reports. I think that if you have a job, you’re in. There is no cash back or perks with this card, but you will be 99.9% approved. Apply now.

The third card is one that I don’t necessarily recommend, but I would only get it if you cannot get either of the other two listed above. This is the Credit One Platinum card. This card is not secured so you don’t put a security fee up front. There is, however, an annual fee that they charge you up front and that could be anywhere from $35 up to $95. Then every year after that is $99. The card limit can be $200 or $300 and the interest is pricey. Remember, you don’t want this card unless you just cannot get one of the other two. Apply here.

There is another way to start your credit or enhance your credit and that is to become an authorized signer on a relatives credit card account. Of course you want to make sure they have good credit You don’t want them to give you a card because you don’t want to charge on their account. This “piggy backing” method is just to give you a boost to your credit. Don’t charge on it or abuse the helping hand. Be upfront and be sure to let them know that you will no be charging on their account. They are only adding you as a signer.

Best Wishes, Joan… Smiles.

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