Posted on: 19th Nov, 2007 04:12 am
my boyfriend has no credit. What he has is bad credit and we are trying out best to get out of debts and he's gong to take a credit card that can help me clear the mess. Can you suggest a brand new credit card that can help him do so? Does anyone out there know about credit check services?
If you have lots of debts, why don't you go for consolidation. Think twice before taking another card.
are you trying to reastablish his credit or do you need money to cover his debts?
well volovik
i wuish he could pay off the debts and re-establish his credit.
i wuish he could pay off the debts and re-establish his credit.
Hi Tsania,
Welcome to the forums.
You should try out with local banks and see if it's possible for you to get a secured credit card. This works in this way: Say you deposit a dollar amount and then charge against it. You deposit $1000 and use it as credit card. Now you make a purchase worth $250. Then you repay it in full when you get the bill. After a few months, your credit score will increase and the bank will be happy to offer you a regular credit card.
Thanks,
Jerry
Welcome to the forums.
You should try out with local banks and see if it's possible for you to get a secured credit card. This works in this way: Say you deposit a dollar amount and then charge against it. You deposit $1000 and use it as credit card. Now you make a purchase worth $250. Then you repay it in full when you get the bill. After a few months, your credit score will increase and the bank will be happy to offer you a regular credit card.
Thanks,
Jerry
It would be hard to get a big loan or a large limit credit card with bad credit. You would have to rebuild it first. Get a 300-500 dollar credit card. Use it every month and pay it off every month and you should be on your way. However be aware that rebuilding your credit might take as long as 2-3 years if its bad now. Some collections, judgements, and past due debts will need to be paid off as well.
Secured credit cards are the easiest way to start rebuilding credit. But remember all the same rules apply as with a normal credit card. Keep a low balance and pay all payments on time.
Hello Tsania,
Secured credit cards are helpful in building credit. But simultaneously all other payments must be made on time and the debts have to be paid off.
What type of debts do you have? Are you thinking of taking out a single loan to pay off all the other debts?
It depends on his credit whether he is eligible for such a loan. The interest rate also could be high. So it will be better to see whether such a loan is really helpful to you or not.
Secured credit cards are helpful in building credit. But simultaneously all other payments must be made on time and the debts have to be paid off.
What type of debts do you have? Are you thinking of taking out a single loan to pay off all the other debts?
It depends on his credit whether he is eligible for such a loan. The interest rate also could be high. So it will be better to see whether such a loan is really helpful to you or not.