Q: I have 3 retail credit cards and a poor credit score. I'm thinking about closing two of the accounts because I never use them. What should I do?
Find out if the retail stores where you have cards report to the credit bureaus. If they do, you can use these cards to rebuild your credit. Just be sure you pay off your bill every month and pay it by the due date. And avoid carrying a balance because most retail cards have a high interest rate.
You might also consider getting a secured credit card to help you boost your FICO score. These cards require depositing your own money as collateral, but if you choose a card that reports to the credit bureaus, you can improve your credit history.
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