Rebuilding Your Credit

[athan12]

Right now I am using a college credit card and it's been over due for a very long time and I just paid off all of my debts on my college credit card last week to basically start rebuilding my credit card.

I'm planning to apply for another credit card but this time I'll start with a secured credit card and work my way up to an unsecured credit card.

Is it advisable to build up my score faster with two credit card and if so, what are your advises on using a secured scredit card. Thanks! I'm at 570 right now

[DaveSignal]

secured is possibly your only option right now, but it is a good option.  You can rebuild with as many as you like.  It wouldn't hurt to get two.

[jetsfan2013]

Capital One may also be a good option unsecured

[HiLine]

Treat your secured card like a debit card: always pay in full, and don't get too close to the credit limit. Also try to obtain as high a credit limit as possible, as this will help you with future credit applications.

[athan12]

@HiLine

Is it true that its better to pay in full instead of paying 4 times a week. Because I was reading this article on yahoo about people with almost perfect credit score, and one them said that he is paying every week and dividing the balance instead of paying once a month in full. So to pay in full or to divide and pay every week?

and I heard its better to only use 30% of your credit limit. is this true?

[DaveSignal]

The balance or how many payments you make doesn't really matter as long as it is paid before the date that the credit card company reports to the CRA  (usually the statement date).