First-time poster here. I have a question I'm hoping some can help me with. My credit score is not so great. I want to improve it. The problem is right now, as a combined result of flagrant irresponsibility and current medical issues, I have CC debt and no job. I'm looking for a job as I only recently became in a position to do so, but that could take a little, and until then I have no real way to seriously pay off the debt. I can manage the min payments but that's about it.
My question is this-I've read about the potential benefits of a secured credit card (which I wouldn't use beyond my ability to pay it, I've learned my lessons) and/or being added as an authorized user by someone with good credit and a long credit history. I know these are not guaranteed to help all that much, but my question is, is there any chance they'd help my score at all if I'm still carrying balances? Thanks for any input!!
Are you carrying balances on active credit cards? If so, a secured card won't help much. Being added as an authorized user to a card that's not being used, or has a very very low balance compared to the credit limit, would help your utilization. Look into odd jobs in the meantime like Amazon Turk, taking surveys and such. You won't get rich, but can get some extra $ for debt paydown.
As you pay down your card balance, your FICO score will improve and your payment history and AAoA will also improve it. Being an AU on a card could help your FICO score.
It takes time to improve your FICO/Credit History. Many people here, myself included, have had hard times in the past with credit and were able to bounce back. Ypu can do it too.