Rebuild with Credit Card

[Anonymous]

Some have suggested credit cards are good to rebuild credit, some suggest it isn't and that you don't need them.

If I were looking for a credit card that will assist with the rebuild of my credit and increase my score which credit card is good for doing this. That won't harrass me as soon as I make a purchase?

My score is 588?

[Anonymous]

Get a secured card with a major bank or credit union. They won't harass you since your own money is  backing the card.

People that suggest you don't need them ... not sure what their talkinga bout. Maybe they are talking about some sort of installment type loan. Atleast with a credit card as long as you don't revolve a balance, you won't pay anything in interest. You don't even really have to use it to build history.

[meka1984]

Capital One is a pretty good rebuilder card in my opinion. 

They helped me. 

[Anonymous]

Second the Capitol One.

[Anonymous]

go with something besides capitol one. a credit union of bank like boa might be better at unsecuring and growing with you. crap one wont grow with you

[Anonymous]

I agree that a secured card with a credit union or trusted local bank would be the smartest route to take. Wish I had known more about CU's when I was rebuilding. Avoid predatory lenders, if at all possible. If it isn't possible, ensure that you never pay them a dime in interest or late fees.

[Anonymous]

Your need to have credit cards to have a good FICO score.    Generally 3 or more to get the best score.    

I suggest a secured card as well.    Credit Unions are good, I also like Capital One.   

After 6 months of reporting, your score will be better and you should add another card or 2.   Store cards are good for places you shop at a lot.  

[Anonymous]

"crap one wont grow with you"

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Confused....

My capitol one has a very generous limit and theyve been more than helpful, and the APR, while not my lowest, certainly isnt the highest I have.

What actual problem exists with Capitol 1?

Or maybe its a certain type of card from Cap1 thats the problem?

[Anonymous]

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@Anonymous wrote:

Your need to have credit cards to have a good FICO score.    Generally 3 or more to get the best score.    

I suggest a secured card as well.    Credit Unions are good, I also like Capital One.   

After 6 months of reporting, your score will be better and you should add another card or 2.   Store cards are good for places you shop at a lot.  

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I'll add another voice in recommendation of Capital One. I think that they're a good rebuilder.

[cequia]

I don't find Cap One to be crappy either. I began rebuilding with their card when I was in the 500s last year and they have been been great for rebuilding and exceeded my expectations.

It's a tool and like any other tool, you have to have the right one for the right job. You wouldn't drive a nail with a ruler would you?