Best Secured Credit Card

How much should i charge on my secured credit card to get the best credit rating?

I can charge up to $500 on my secured credit card and want to know how much should I charge on my secured credit card to get the best credit rating. I need to build credit because I got none.
I'll be paying it off every month.

I'm wondering how much I should charge on my secured credit card every month out of my $500 maximum.

Not much. I would keep less then $100 balance on it and only pay the minimum payment every month.

The credit companies want to see that you can handle paying a bill month after month with no lateness.

NEVER EVER EVER have more then $250 on there if your max is $500. But I would keep it at LESS than $100.

I told my neighbor these directions to improve her score and it got dramatically better in six months.

I've done this religiously for 10 years and have a 720, and no it will not help you to pay it all off every month as the other person suggested. That may help maintain the score, but not increase it.

Good luck!

2009-08-18 21:49:52 by HKR4444

ConsumerAffairs.com's Mark Huffman reports a "secured" credit card might be a good option, but make sure you don't get an &quot ...

I'm looking for a secured credit card to use on special occasions and pay off the balance monthly. What secured credit card is the best choice for avoiding hidden fees and clauses?

Take a look at this information page http://www.youbigg.com/Credit-Cards.html it lists types of cards and information, it should also answer your question.

2007-01-15 03:58:15 by kenan gaoge

Price: $162.00

I have had many kinds of secured cards, including Tribute/Salute, First Premier, Centennial, Applied Bank, New Millenium, etc...They were all pretty bad and I really didn't do much to improve my credit at all. Anyone know of a reasonable one, esp. with the new credit card reforms in place? Thanks.

all the ones you mention are ok cards to get you started but UltraVX visa is one of the best ones that could help you rebuild credit this credit card reports to all three major credit agencies on a monthly basis and will get you approve go to www.fastcreditcardapprovals.com under bad credit section and look for this card use it for a few months just enough to build some credit then you could apply for a better one and drop this one. Good Luck

2009-06-10 22:31:15 by mimbster

Price: $149.99

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I am trying to build my credit score ASAP. I was told that the best way is to get a secured credit card. Any suggestions on where to look for one?

Go to the bank where you have your checking/savings account. Ask them about obtaining a secured card. Steer clear of credit cards that charge a fee just for opening up an account.

2009-05-05 10:42:54 by Nay-Nay

I got a wellsfargo secured credit card and gave myself a limit of 500. I then checked my credit report and it said that small credit limits hurt your credit. should I up my credit limit? If so, whats the best limit to get to best increase my credit score. and whats the best way to use the card?

Frank is full of it. Sorry to say. A secured card will show up EXACTLY LIKE a regular, unsecured card on your credit report. Here's a good way to establish a limit on a secured card for yourself... estimate what you will be spending on it per month (assuming you will pay it off in full every month) then triple it, and that should be your limit. This way your balance will always be 30% of your total available credit limit, don't go over that percentage or it will actually hurt your score.

Although most secured cards have fees... they are an excellent way to build up your credit, sometimes even the only way.

2008-03-20 14:09:12 by jjs8ig