Another option is to improve your credit score with a secured credit card by opening a savings account at a local branch of a major bank offering such a program. The benefit, besides use of a card, is that good payment history (not just late payment history) is reported to the credit bureaus on these secured cards. Over 33 percent of your score is based upon on-time payment history. This is the fastest way possible to raise your score. Some banks automatically convert your card to unsecured credit in a year or so, assuming you are always on time with your payments.
- My credit score is 743. Every time I apply for a credit card I'm denied. I'm told I have too many balances on cards. I have two credit cards only totaling less than $2,000. I'm not sure what the problem is. I own a home, I make $85,000 on my own and I also have income coming in from my husband. What am I to do? Good credit, almost no credit cards, and I'm never late with anything. Any suggestions?
- Can I include my spouse's income on a credit card application?
- Do you need a job for a credit card?
- Are Discover Card credit cards any good?
- Which bank offers the best debit card?
- Is a credit score of 725 considered good?
- Why do you rate American Express credit requirements as "good credit" to secure a card? I thought to qualify for an American Express card you have to have excellent credit.
- Supposing you have a perfect credit score of 800 or better; which credit card offers the highest credit limits?