Credit score !@#$%^&

They approved my cat.

 

Pussy mittens?

 

Capitol one card, 2x the points back on very dollar spent, has helped pay for hotel rooms, airline tickets etc almost completely for past three years. They even have a promotion now with hotels.com for 10x the points of you book with hotels.com

 

Also, be prepared for an influx of Credit card offers once your credit starts going up... Everytime I check the mail, three more letters.

 

Oh Yeah. Thats right!!
And thats what i plan to do. Buy 100$ in hookers and blow and pay the WHOLE amount owed when i get the bill....

 

I also hear it's good to have no more then 30% owed on the card

 

7%-8% has been the sweet spot from what I’ve seen with my scores.

 

Take a look at the Discover Secured card to help rebuild your credit. You make an initial deposit which serves as collateral and your credit limit. Then your account gets reviewed after 8 months. If they deem your usage satisfactory they can return the collateral and it turns into a regular discover card. If you cancel your card the collateral is returned to you. You will get 2% cash back on gas and restaurants. There's a ton of better cards when it comes to rewards but for someone trying to rebuild credit i think this one is the best. They report to all three major credit reporting agencies so if you make your payments on time it will help your history. Once you raise your credit limit you can apply for more lucrative rewards cards.

 

This is what I need to figure out how to do...

 

Say what you will about discover, but their app is very user friendly. In 2014 i had NO CREDIT now im up to upper 700s. Had some other factors obviously. If you already have credit thats not to bad, go to your bank and get 1 with most likely a better intrest rate. As discover is at about 24 percent. I bank with regions and have been "preselected" for a 14% intrest credit card but dont need it so havent bothered with it. Just saying shop around for a card that works for you.

 

@Jerry311SD , other ideas to consider...

Be mindful that getting cash back from CC's isn't your goal right now, so those cards might not be the best choice for you in your current situation.

1) Getting a card or cards that have 0% interest on transfers for 18 months which would allow you to make more progress on paying those off the principle without accruing added interest. Just make you sure you can pay off the transfer within the 18 months or do another card and transfer again.

2) A second idea is if you have multiple cards, focus on paying off the smaller ones first just to get them out of your hair to ease the mental burden.

3) I agree on the pre-paid secured card from Capitol One. Get it for around $100 or $200 just for your gas and make sure it get's paid every month, week, or whatever the schedule it is.

4) Call the cards you do have and ask if they can temporarily reduce your interest rate to make it easier for you to make payments to them. Most CC's will agree to reduce the interest by a noticeable amount for at least 12 months. They could say no, but it can't hurt to try since you only have something to gain and nothing to lose by asking.

5) For the larger cards, you might want to consider negotiating with them for a severely reduced interest rate if you agree to close the card, but they can auto-debit your account X dollars each month until the card is paid off. If they agree to this, make sure that you retain the ability to add extra payments if you want to.

 

I started and built my credit with a Capital One secured card. $250 deposit for a $400 credit limit, but it did the trick.

One other thing I didn't see mentioned: if you plan on paying it off monthly, make sure you let the statement close with a small balance, not zero.

 

Don't give in to The Man. Pay cash for all but your house. Then pay that off.

But then I realize that goes against the majority view.

 

Do you mean (by your last sentence) ? --don't pay it all off each month? If that's what you mean-- WHY NOT? My rating, last time I checked or cared is over 800, we pay ours off every month, and always have.

 

Did you apply for the Amazon credit card online? I have a prime account already and am looking to build credit.

 

Yes it’s online

 

Keep it below 10%, at most 30%.

 

Not what I mean at all.

I just mean that if the OP is only putting one or two transactions on his card per month, to not pay it off before the statement date. A statement balance of $0 will not help your credit.

 

I was going to pay all of it each time I get a bill.
Should I only pay most of it?

Say it 100$ Should I pay 80$ ? And let the other 20 Roll over to next month? I just want to bump up my score. I'm not looking to buy a house or anything like that any time soon. I'd like to get a (newer) Tacoma 2014 and up Somtime this year..

 

Having a $0 balance is fine and is good for the report as it shows you have zero debt on that card. As long as it's revolving it's no big deal paying it down to $0.