you have no credit at this point. you only have two things and one is bad so it kinda cancels each other out. pay off the credit card.

ladyofrage said with bank of america, going over you limit raises your APR if you were on an introductory rate which knowing BOA you were. even if you get the over limit under limit, your APR will not go down. best thing is to get a new low balance transfer APR and transfer the balance. try discover student card or chase visa.

I'm going to transfer the balance to a chase visa, but When I transfer the balance to another card what happpends then and will my apr go down on my Bank of America student card (will that card balance will be zero)

thanks a lot for the info

your APR will stay the same. onces it goes up, it stays there. you can close your card and apply for another one with a lower rate.

So a balance transfer to another card automatcally closes my BOA credit card?

Or will the new card - by transferring balances pays the BOA credit card and then the BOA balance will be zero- So then with the new card I will be paying at a lower apr with the balance I had on the BOA card?

I need some concrete clairty because I wanna get out of this dilemma as soon as possible

You balance will be zero but that does not close your card. and you will be paying the balance of the BOA card on the new with a lower APR. Your BOA card will not be closed unless you want it to be and ask them to close it.

Here is a good coupon for a great site, save 20% off of any credit check package at . Use coupon code CPPSAVINGS

Monthly payments an services like cell phone plans and internet service don't effect credit riight?

prop'd

good info

NO CREDIT IS WORSE THAN BAD CREDIT

As many young American move from childhood to adulthood they are faced with a grim reality. They have no credit, and now they are classified and bunched with those who have bad credit. Any creditworthiness you acquire is directly linked with credit lines that you have on your file. Each credit line is gained when you apply for credit cards, buy a car, get a bank loan etc. So to gain a credit line, you must have good credit and to have good credit you must have credit lines. This has been the problem for most young Americans. One way to eliminate this problem is to acquire a collateral bank loan and once this is paid back you automatically have a credit line. Most banks are willing to offer this service to young people because the bank knows that credit is all that matters in the world today and building your credit from a young age will give you a head start among your peers. Credit card companies can be very reluctant to even offer you a low limit credit card knowing that you have no credit at all. If one is offered it is usually a secured credit card with high initial annual fees and high rates. Also it will be impossible to purchase a car or a home without any credit lines. A bank collateral loan requires a deposit into your bank of choice then the ability to request for a loan that is equal to the amount deposited. A reasonable term would be one year to pay back the loan on a monthly basis. Problem solved. Learn more on establishing new credit at .

THE SITE HAS SAMPLE LETTERS AND ALOT OF HELPFUL HINTS , PROPS ON THE THREAD

canal_boys said wtf dont even work

works for me.. :applause:

i been with chase for about a yr and a half, today they offered me a chase freedom credit card and i accepted, i wanna build up my credit so i'm messing wit it, right now it's a $300 spending limit, and i think the yearly intrest is like 18%, so when i get it imma just use it to buy sh*t i know i can pay back at the end of the month and imma pay the balance off in full when i get my statements

props for all the info

Inhale said if you get more than one card, and pay them off one card with another... as long as you don't mess around and spend more than you have.. that's a good way to build up your credit

is there any truth to this

Okay I've been trying to establish my credit for a second now but I get turned down for loans and all that. Is there an easy surefire way to get it done?

aight i have a question on credit since im new to this sh*t,
i got a credit card i got from opening an account in dec.
interest free until aug 07
right now i got 1,000 that i owe on that,
so i got a few question, would it be better to pay that off by then
or is it better to pay bout a bill every month? what would be the best thing to do,

another thing, my interest is 9.9 so is that added to the whole amount due every month, or is that 9.9 for the whole grand?

good read. damn i kno' i don fu*k my credit up. guess i'll just have to wait 7 years to get scr8in' out.

Fu7urE101 said I have about 3 cards now. A mastercard, visa, and a Gap card all of which I pay off about 3-4 days after I get the statment. But I have a friend who says that might not be enough to really boost my credit score. He said I may have to take out a loan or something.

Establishing credit is sloooow. But you can kind of speed things up a little if you get a loan, if you have a cell phone that counts as credit, car payments (that are in your name), insurance too. I have a couple cards to I use one just for gas. My moms just bought a new house and i co-signed to help my credit. Just gotta make sure you pay your bills!!!

I'm on my way to building up my credit, in april I got a credit card that I pay off in full every month, in april I also started a new cell phone plan in my name and I have also been paying that off every month on time, I'm also trying to buy a car in a few months and when I do the insurance will be under my name

Nice post. I wanted to add Suze Orman books and DVD's are great too she's goes into alot of detail about getting rid of debt and keeping yourself out of debt and planning for your future. I would recommend Young, Fabulous and Broke by Suze Orman

props

25, 740 score and 80,000$ available credit...

who wants to start a business? get at me

if you have monthly bills like cable, etc. put them on the card and pay the card off every month.

Better yet, do this for everything you'd normally spend the cash on (gas, food, entertainment) but PAY IT OFF EVERY MONTH!

Even better, get a Discover Card and get a few bucks back for everything you put on the card.

if u wanna take it even further (for those with decent credit already)

sometimes you get an offer for 0% apr for a year with a card.

Let's say $10,000 limit, you take 9500$ and pay a 3% fee.

Then you put that 9500$ in a 5-6% saving account and pay the minimum payments only for a year.

End of year you made yourself 300 bucks or so. In time, you can get higher limits and do it again.

Bodega said I have a student card with bank of americqa should my apr be over 19% i think that is too high I went over the limit for a emergency but i think my apr is too high and right now i can't afford the monthly payments. i was very diligent but i had an emergency.. but should a student card be that high on a apr and if so how can I lower it. because i don't want to be delinquent just because i can't make the payments

19% is actually pretty low for someone just starting to build credit.

You can call the creditor and ask them for help, because the banks will take ANYTHING over NOTHING.

You may be able to lower the APR, or at least the minimum monthly payment, giving you some time to scrape up some cash to cut the balance down.

20, 655 and 8000 limit :/

Ive recently got a "Pre Approved" credit card in the beggining of Jan. Ive heard these cards are a set up for failure but i decided to go with it anyway. After activating it i went on to spend to the $200 limit. Before i got my first bill, i was out of work and was unable to pay. Fast foward 3 months later i still havent payed at all being that i was out of work with no income. Im now employed and racked up $120+ in late fee but im able to pay. My question is, how badly affected is would my credit score be?

sh*t I am 23 and still can't get a real credit card. I only have my tution, Kay's jewlers card and a Closed account for a bill that I had seven years ago. Can someone help?


* Edit * I now have a HSBC Card with a 300 dollar limit at 14.9 % any help would be appercitated

don't use credit cards.