Confused!

[Anonymous]

On my most recent post I told ya'll that I had less then $1,000 in total debt. I'm glad to say that I now have ZERO debt!......but now I want some! LOL To clarify I need to improve me credit score and everything I read on this site says to take on new credit to improve my score but do it "responsibly". With a poor score how can I take a loan or other line of credit on responsibly without generating many inquiries to my report by lenders who have a greater chance of denial then approval.

Message Edited by Todd1 on 02-25-2008 08:53 AM

[Anonymous]

Hi Todd. The way you do it is by reading, researching, and establishing your needs.

Firstly, what are your true FICO scores? What type of credit are you looking for? Credit cards, or a mortgage, or a car loan?

If credit cards, go to whogavemecredit.com and play around there for a while. It has several ways to sort. Secondly, go to the black menu bar and click on "Get a Credit Card". You can also go here:

http://www.financeglobe.com/ScoreMatch/?gl&gclid=COiUr97s944CFRcbWAodswwy0w

type in your FICO score and see what pops up.

Do NOT apply for anything until you have relative assurance that you will be accepted.

For credit cards, a secured card is one avenue open to you. Joining a credit union, taking out a small loan, paying it back religiously then applying for a cc is another way.

Finally, keep asking questions, and read as much as you can here. It's a goldmine of information available to you.