Steve Said:

applying for multiple credit cards bad?

We Answered:

Yes, too many credit applications lowers your score.
What you need to do to establish credit is save some funds and open a secured credit card account at a credit union (they are easier then the regular banks).

This means you deposit say $500 and get a credit card with a $500 limit, the credit union holds your funds for security. The more you deposit in the account, the more credit you are issued.

After a year of making payments on time, you should then be able to apply for a card as you have established some form of history that a creditor can check.

Make sure you DON'T miss any payments, that is the worst that can happen.

You could also try to open a pay-pal account to buy on line as most large merchandisers take pay-pal and all you need is a checking account.

Here is a link to FICO to help you better understand how credit works:
http://www.myfico.com/CreditEducation/

Hope this helps answer your question.

Mike Said:

Bad credit, but i need to apply for a credit card?

We Answered:

you will have to get a secured card with a 580 credit score. try to get it somewhere besides bank of america. they will charge you super high interest.

student cards are for young people who have no credit history. that isn't your situtation.

Richard Said:

18 yr old need credit questions answered?

We Answered:

It's easy to ruin your financial future if your applying for that many credit cards at 18. Try getting 1-max, and read Dave Ramsey's "total money makeover", suzy orman's book, and tightwad gazette.

Derrick Said:

college student credit card question?

We Answered:

You'll only be able to qualify for the lowest amount of money on a credit card; being that it's your first one. And you'll only be eligible for the the basic cards, nothing fancy lol.

Most banks offer a student card. With no fees and relatively low interest rate. Start off with your bank (since it's easiest) and then go from there. They won't look in depth to your spending or paying bills on time. As long as you have no "bad" credit (student loans don't count if you have those) then you'll be approved. They just ask you how much you make.

My advice; don't go with Chase. They have really strict stipulations to get a credit card and they're annoying to deal with. Someone I knew had only $10 on their card and they went away on vacation and the bank called them about 20 times in a two week period asking for them to pay!

Just do your research on student cards or basic cards with no fees and low interest.

Veronica Said:

is it bad for your credit to have 2 credit cards with a $250 limit?

We Answered:

Having multiple cards can hurt your credit rating. Try to avoid getting those Wallmart or Starbucks cards and don't apply for too many multiple lines of credit as that can mark you as a "credit seeker".

Start small with one or two cards and use them for a year or so and get them paid off on time. Then start applying for more lines of credit. (like you did)

You seem to be fine right now. Just be careful about getting too many lines of credit!

Tracey Said:

How do I rebuild my credit, from bad to good?

We Answered:

It is your responsibility to make sure the hospital and other medical bills are paid. If the insurance company isn't paying, you have to follow up. Unpaid medical bills usually don't go to collections for several months. The collection agencies are the ones reporting the debt to the credit bureau.

You can try to negotiate pay for delete agreements with the collection agencies to remove the item. Get it in writing and don't give the collection agency direct access to your bank account.

If you can't negotiate pay for delete, the item will remain on your credit report for the balance of the 7 year reporting period, whether paid or not. There is nothing for you to dispute as it's a legitimate item.