@thrasher865 wrote:
@Anonymous wrote:
No Offense, but what is the point of all those sub-prime cards? You can achieve the same thing (building credit history/worthiness) with just 2 or 3 sub prime cards and then a year later start going for the more prime cards. Having low limit cards actually lowers your credit score.
It just seems like a headache to keep watch on all those CC bills. Even if you sock them, they all still have monthly bills....it just seems like an easy way to get a late....and some like the the Best Buy card will have a bill if it has a zero balance, they charge interest on nothing, I've seen it. Stay on top of all of thoseand good luck!
Message Edited by Jubeyy on 08-04-2008 10:48 PMI don't think low limit cards lower your score, but I do agree. Why keep up with all these when you can just build good history for a year or two and move into the cards you actually want?As far as Best Buy charging "interest on nothing" that's not even possible. I think what may have happened is you PIFed the card at some point in the billing cycle. Interest is computed on average daily balance, so if you carry a balance of $200 for the first 15 days, then pay it off in full, you will be billed finance charges on $100 at the end of the month. This is not just Best Buy, it's ALL credit cards.
How about if I rephrase and say that ANY credit card company can charge "unexpexted" interest on "seemingly nothing", leaving you with a balance and a potential late if you are not checking it often enough? Better???
some people do not know this, especially people new to credit....and the sub-prime credit card companies are counting on this.
Just be careful and look at all your cards online at least once a week, and good luck .
Message Edited by Jubeyy on 08-05-2008 12:57 PM