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Will co-signing on a loan help my credit score?

Question: If you have no credit, and you co-sign with a parent on a personal loan from a bank, and you pay on time for six months, how much will that help your credit score? Answer: It helps, but because of the complicated systems that the credit bureaus use to create their formulas, it's impossible to [...]

I need to rebuild my credit, but I can't afford to incur start up fees or tie up funds for a secured card. Are there other options?

Question: As a result of a bad marriage and divorce proceedings, my credit is horrible. I need to rebuild my credit, but I can't afford to incur start up fees or tie up funds for a secured card. Are there other options? Answer: No matter how you got into your situation, few financial tasks are more [...]

Should I get a joint credit card to help my husband build his credit?

Question: I'm considering getting a joint credit card to help my husband build his credit. Any advice? Answer: Before you commit to a joint account, there are some legal issues you need to be aware of. It's true that being a joint account holder can help build a credit history. Assuming you have a good credit [...]

I completed Chapter 7 bankruptcy in January 2010. Can I get a credit card?

Question: I completed Chapter 7 bankruptcy in January 2010. Can I get a credit card? Answer: Legally, a bankruptcy can stay on your credit report for no more than 10 years. And while it's true that bankruptcy really puts a major dent in your credit score, you can bounce back from it even [...]

Do I qualify for a credit card offer?

Question: Do I qualify for a credit card offer? Answer: Although this is a broad question, I think I can give you a couple of guidelines to help you decide if you can qualify for a card offer. The CARD Act of 2009 requires that you need to be at least twenty-one years of age to qualify [...]

How do you get approved for a credit card?

Question: How do you get approved for a credit card? Answer: The primary method of getting approved for a credit card or other type of credit is to make sure your credit report and credit score are as good as they can be and then applying for the credit. Before applying for credit or a credit card, [...]

Which credit card is for someone who has no credit history?

Question: Which credit card is for someone who has no credit history? Answer: With no credit history, a secured credit card is your best bet. You can search for a secured credit card online or to go to a bank or credit union within your community, and see if they offer a secured credit program. Most [...]

I am newly single with poor credit and on a limited income. What would be the best credit card to start off with?

Question: I am newly single and on a limited income. What would be the best credit card to start off with? My credit, I would imagine, is poor. Answer: My highest recommendation is to search on CardRatings.com by selecting the criteria or credit card type for "Bad Credit." This would cover issues of both bad credit [...]

I owe $287.77 in a settlement. How can I pay back in weekly installments so I can build up my credit?

Question: I owe $287.77 in a settlement. How can I pay back in weekly installments so I can build up my credit? Answer: I assume that when you say "settlement" you mean an arrangement with your creditor for a reduced payoff. Usually a settlement is arranged because of difficulty paying the debt, as evidenced by recurring late [...]

I was told from my lender to obtain a credit card to establish credit; my score right now is low so is there a good card that I could most likely qualify for?

Question: I was told from my lender to obtain a credit card to establish credit; my score right now is low so is there a good card that I could most likely qualify for? I would really rarely use it if that makes a difference. Answer: I would suggest going to CardRatings.com. You can do a [...]

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