Updated: Jan 31
Get Ready to Start your Credit Lifestyle or Repair yours....
Need To Know
Make sure you "Shop" For Credit Cards (Do not just apply for whatever you can get)
Check APR Rates FIRST (Very Vital)
Read my previous post to understand the difference between a secured & regular credit card and What APR means
Secured Credit Cards are good starters
Regular cards are good if you can start there
Never apply for a card that is more than what you can afford to borrow
Remember this is like a loan... you do have to pay it back and on time
Do not Max out your card (not even close) and if you are repairing your card, pay the minimum amount + an extra $25
Use it for small purchases that you would make on a regular basis and you know you can pay back (ex: Gas, Water Bill, Small Grocery trip)
Make regular payments on time, if you can afford to pay an extra $10/$20 it helps
This does build up your credit as long as you do good with it
The apps do have free credit score check so make sure you check it at least monthly
Do not over use your card but do use it (excessive use is not good and this is a part of the decision on credit score)
Do not have too many cards but I do suggest having two
If you have a secured credit card and do good it will transition to a unsecured credit card and you will get your deposit back
Basic Rules: If it's too good to be true it is & Just because you can doesn't mean you should
What's In Your Purse?
I am adding these few cards but this is just for informational purposes only!These are not suggestions and do not mean that they will be your best fit, also I am not paid by these companies for advertisement these are just common cards I have seen being used.Book a session to have a genuine and tailored discussion on your basic personal finances
Capital One Secured Credit Card; APR 26.99%,No Annual Fee,Late Payment:$40 (Visit Site for more info)
Discover It Secured Credit Card; APR 22.99%,No Annual Fee,Late Payment:$40 (Visit Site for More Info)
Merrick Bank Secured Visa® Card; APR 17.45%, Annual Fee $36 the first year, Late Fee: Up to $40 (Visit Site for more info)
First Premier Bank Secured Card; APR 19.9%, Annual Fee $50, Late Fee:Up to $39.00 (Visit Site for more info)
Your Bank may also carry a Secured Credit Card
Also all of these Credit Card Companies have Regular Credit Cards
Start checking your score with Credit Karma
Get your Credit Report too, you are entitled to a free report once a year
Understand what Credit Score is
Find out what a bad vs good score is (the exact numbers)
Understand what a hard pull vs a soft pull is and so much more!
There are so many things to learn when it comes to Credit Cards and Credit Scores!
If you want to discuss any of these topics or have questions I would love to be your Coach!
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