credit card question?
I have a credit card through chase, the chase freedom card, comerica visa card, i am looking for another one to build my credit up, i applied for an american express card and they denied me, i was wondering if that one is harder to get? if i have those other two, what credit card do u think i can get, what one is easiest to get? im not interested in the prepaid credit cards.
American Express is more difficult to get. That's because it's credit and payment system is structured differently than the average card.
It doesn't matter exactly what sort of major card you get if you are simply building credit. Just make sure that you don't acquire too many cards too fast. About one inquiry (regardless of whether or not they accept your application) every three months. PAY THE ENTIRE BALANCE EVERY MONTH. Please don't listen to the above person who said to carry a balance. Rotate which card you use every month if you have to. Creditors and lenders are looking for a sure thing. Most only want to give you credit if it looks like you don't need it.
After you have a couple or three major cards under your belt, get a card from a department store that you enjoy shopping at. That will help you as well. Again, pay the entire balance when the bill comes in.
Loans are tricky. The loan itself will lower your credit score because credit card companies look at loans as a higher priority than other bills. BUT a small loan that you can pay off quickly will boost your credit in the end because carrying the loan and the cards and making all of your payments on time and in full will show that you are a dependable fellow who manages money wisely.
Building credit takes time. That's the most important thing to remember. Also, if doesn't hurt your score when you check your own credit. Get a membership with one of the three major bureaus so that you have regular access to your report and monitoring. That way you can stay on top of your credit and what's going into your report. I talk to people every day who are living a credit nightmare because they were not vigilant about making sure that only the correct information was going into their credit report. Fraud, ID theft, and simple typographical errors can make all your hard work for nothing.
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try orchard bank
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Is it necessary for you to get another card to build up your credit? All your doing is increasing your debt to income ratio.
I would keep the two you have, charge them up, and pay them off every month. Not entirely, though. I would pay off all but $5.00. This shows that you can carry a low balance.
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American Express does have harder guidlines than some of the other companies out there. Try Discover, they give you cash back on purchases. Just be careful not to have too may cards, that can actually hurt your credit.
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It is generally easier to get a Master Card or Visa than an American Express because many banks offer those and I think AMEX markets theirs centrally rather than through a bunch of banks. But this may be changing.
My parents have had an AMEX for years; I have never had one and frankly don't feel the need for one. AMEX charges an annual fee solely for the "privilege" of carrying a card that says "Member since XXXX" (whatever year you first got your card.) If this type of ego stroke is important to you, go for it, but be prepared to spend $50 a year for it.
I think you just get one or two MCs or Visa's and be done with it. AMEX is highly overrated in my opinion.
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Good luck and God Bless.
There are several decent cards out there that would help you build your credit score.
Try Discover. They have decent cards with some great rewards and cash back programs
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http://www.creditcardindex.org
American express charges you 50-150 a year for membership weather or not you use it or not. I would apply for a master card they do not have yearly charges. Take care Heather
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For a free consumer list of secured and unsecured credit cards for people with bad credit looking to improve their credit go to http://www.bad-credit-credit-card-for-people-with-bad-credit.info/
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American Express has its own advantages, particularly for customers in Europe and North America. In these countries the card is accepted widely. The company also offers very attractive credit cards. They have good rates, good reward schemes and good customer service. If you want a card guaranteed to give you a high standard of service, and that still carries a little bit of extra exclusivity now that Visa and MasterCard are so prevalent, then American Express, or AMEX, is a good safe choice. get a best american express crdit card at: http://www.credit-card-gallery.com/American_Express.html
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Small steps like paying your bills on time and using only part of the credit available to you. Also use your credit cards for making small payments regularly, so that it is reflected in your credit record. More tips available at http://www.acreditlibrary.com/buildcredit.html
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American Express is more difficult to get. That's because it's credit and payment system is structured differently than the average card.
It doesn't matter exactly what sort of major card you get if you are simply building credit. Just make sure that you don't acquire too many cards too fast. About one inquiry (regardless of whether or not they accept your application) every three months. PAY THE ENTIRE BALANCE EVERY MONTH. Please don't listen to the above person who said to carry a balance. Rotate which card you use every month if you have to. Creditors and lenders are looking for a sure thing. Most only want to give you credit if it looks like you don't need it.
After you have a couple or three major cards under your belt, get a card from a department store that you enjoy shopping at. That will help you as well. Again, pay the entire balance when the bill comes in.
Loans are tricky. The loan itself will lower your credit score because credit card companies look at loans as a higher priority than other bills. BUT a small loan that you can pay off quickly will boost your credit in the end because carrying the loan and the cards and making all of your payments on time and in full will show that you are a dependable fellow who manages money wisely.
Building credit takes time. That's the most important thing to remember. Also, if doesn't hurt your score when you check your own credit. Get a membership with one of the three major bureaus so that you have regular access to your report and monitoring. That way you can stay on top of your credit and what's going into your report. I talk to people every day who are living a credit nightmare because they were not vigilant about making sure that only the correct information was going into their credit report. Fraud, ID theft, and simple typographical errors can make all your hard work for nothing.
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I work for a credit bureau.
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