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The best advice, from personal experience, would be to make sure you are on time every month and budget your income to the point where you won't miss a payment for the next 12 months. If you can ensure that you don't miss a payment for one full year, this will be very beneficial to your score and overall credit standing.

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โˆ™ 2006-03-10 16:57:06
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Q: How can you improve your credit if you're 20 and have 2 store credit cards and have been late a few times?
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Related questions

Why don't most places accept the Discover Credit Card?

Discover credit cards is not a well known brand, while master visa cards , times cards or the platinum citi cards are more accepted and known

Is credit card factoring sometimes known as credit card laundering?

Credit Card Factoring is indeed sometimes known as credit card laundering and even at times may be called money laundering. These two names mean to launder money by use of credit cards often times through businesses.

What are the drawbacks of a credit card?

Good about credit cards - Credit cards are actually some times beneficial. When you want to buy a car - some places won't let you because of your credit score. If you don't have a credit card, you don't have a credit score. Draw backs of a credit card - If you don't pay off the amount of money you charged, you will go into debt. So only use your credit card if you KNOW you can pay it back ASAP!

Will canceling your credit card hurt your credit?

Most likely it will. The credit agencies may not know whether you cancelled your account, or if it was taken away from you by the credit card company. If you are concerned about your credit score, then having 2 to 3 credit cards will generally raise your score, as it demonstrates that each credit card company believes you to be capable of paying their credit card bills. Only use those credit cards enough times a year that they will not be canceled due to non-use.

If the credit card limit is 2000 dollars what amount should you keep on the card to improve your credit score?

use it but keep low balance, under 800-1000 at all times

What is credit card and credit card fraud?

Credit cards are the order of the day especially in these tough economic times. Many credit card companies have changed their terms not to mention making it more difficult for consumers to obtain new credit cards. The new Obama administration has also brought in new legislation to curb the bad practices that was in the industry. Yet even now credit card applications for people with bad credit are still available if you look hard enough.

Does having a large number of credit cards lost or stolen at different times affect one's credit score?

Lost/stolen card notations should not have any effect on a consumers' credit score, provided that the accounts are properly notated.

When does one have to pay their credit each month?

Most credit cards have differing payment times throughout the month. It is best to ask the company you are looking into getting a card from or your current company to ask them their deadline.

How would a business credit card benefit me with my expenses over a regular credit card?

Business credit cards are often better to use when making large purchases. Often times, you can earn points on a reward system for your frequent shopping which is why buying bulk with a company credit card can be beneficial.

How many credit cards should you apply for at one time?

Never apply for too many credit cards at one time. Every time your credit report is ran it lowers your score. Some places will look at how many time your credit report has been pulled. Any time your apply for a credit card or a loan you should give it several months before you apply again. I have good credit but because my credit report had been pulled 6 times in 2 months I got denied. That's the best info I can offer.

What did they used to eat in world war 2 times?

Normal things, but they used ration cards, meaning they were limited on how much they could get from the store.

Will canceling your credit card make a bad mark against your credit?

Generally no. BUT, keep in mind that you need credit to have a credit score. Many times people think that just having credit cards hurts your credit score. Not true. The credit repositories need something to report. What will hurt your credit is having credit cards that you are always at or near the credit limit. Try to keep them at 60% or lower. So if you have a $1000 limit, keep it at $600 or less.

Should credit debit cards replace money?

Not always. There are times when it is easier to drop change into a meter than to put a debit card in a slot. Debit cards can have a fee. Debit cards can be subject to identity theft. Debit cards can be counterfeited. People who use debit cards often don't know how much they have in their account and can overspend their money and get into debt very fast. Debit cards have their place in place of money, but, there are some times when paying for items with cash and coin is the better way.

What is the fastest way to increase an individual's credit score?

1. If you dont have credit, get 2 credit cards. 2. Make SMALL purchases on your credit card. 3. Pay off your credit COMPLETELY each month. 4. Wait 12-24 months. 5. If you have a credit card, but have a high balance, pay it down as much as possible. your credit score can jump 50-100 points if you payoff your credit cards. 6. If you are applying for a mortgage and have bad credit, many times the large national lenders such as Wells Fargo or Chase can better help you raise your creddit score. They can tell you that you need to payoff this, this , and this to get your credit score to jump 50 points. Good luck! Henry

What influences your credit score?

How many accounts you have open (including car loans, school loans and obviously credit cards). Also the high balances on your accounts, late payments and outstanding payments sent over to creditors. If you apply for cards many times in a small period of time (within weeks or months) your credit score may also be affected, whether they accept or decline your request.Hope this helps!

What are some tips for quickly paying off credit card debt?

The first thing you need to do is always pay at least your monthly minimum on any credit cards you own. If you are able to pay off more than the minimum you will pay the debt off faster. Often times companies will allow you to consolidate your debt, so you will only need to make one payment for all your credit cards.

Advantages of Using Credit Cards Over Debit Cards?

With the country in financial turmoil, debit card use has skyrocketed. Debt-laden consumers have switched to debit cards to try and alleviate their financial burdens. However, the fault for credit card debt is not to be laid on credit cards themselves. Most debt situations arise from poor financial and spending decisions. In fact, there are several advantages that credit cards have over debit cards. Safety When consumers pay with credit cards, it is easier to avoid losses from fraud. Debit cards work by transferring money directly from a customer’s checking account to a merchant’s bank account. When debit cards are used fraudulently, the money is missing instantly. Credit cards, by contrast, offer some protection against fraud because the money stolen is not actually missing from any of the customer’s accounts. An additional advantage is that credit card companies handle all the details of fraudulent use. Debit card fraud may result in overdraft and insufficient funds fees, which in turn make creditors unhappy. Grace Period The instantaneous nature of debit cards reveals another advantage of credit cards: grace periods. With a credit card, money spent is not automatically deducted from your bank account. Instead it remains there for one to two weeks until you pay your credit card bill at the end of each month. If you pay your credit card bill from a high-interest savings account, the saved interest will eventually add up to a meaningful amount. Another advantage is when you pay with credit, you do not have to always watch your account balance to make sure it remains in the black. Additional Benefits Credit cards offer additional benefits to consumers that many do not realize they have. These benefits include enhanced warranties, insurance against damaged or defective goods, and points that can be redeemed for airline tickets, certain products or simply cash. These benefits are subtler but they provide a major benefit in that customers have the added convenience and protection of extra liquidity in emergency situations. In tough economic times, liquidity can spell the difference between survival and bankruptcy. Credit cards are one of the most versatile financial instruments ever invented. Despite their bad reputation, they provide benefits to consumers and lighten families’ financial weights.

What is the purpose of a Fleet gas card?

The purpose of a Fleet gas card to allow companies to manage, control and report fuel and maintenance expenses. It saves times by providing greater convenience and better control than gas cards or standard credit cards.

What is your credit score?

Your credit score - is a numerical value based on your credit history. It takes into account such things as how much dbt you owe, if you've ever been late in paying bills, ever had court cases raised against you for defaulting on payment, or how many times you've moved. The higher your score - the more likely you are to be approved for loans, mortgages or credit cards.

How often should I check my scores?

It varies from person to person, if you use several different credit cards and you use them often, you should check your credit score about once a month. But if you only have one card that you barely use, you don't need to check it more than a few times a year. Like I said, it differs from person to person so there is no one right answer, but the more cards you have and use, the more you should check your credit score.

What is the chance of getting 5 reds cards if they deal you only 5 cards out of 52?

The chance of getting 5 red cards if they deal you only 5 cards out of 52 is (1 in 13) times (1 in 12) times (1 in 11) times (1 in 10) times (1 in 9) or (1 in 154440).

How easy is to get gemb credit cards?

Pretty easy. I started with a Walmart Credit Card last November. Around March I got a pre qualified letter for a Sams Club Discover Card which I was able to get and recently got a Belk store card issued by GEMB. I have yet to have any problems with them whatsoever. Carry balances on all cards and use them every month. Usually pay 2-3 times amount due each month and always pay on time. Did not have much of a credit score back in November and am still rated poor - fair based on number of hard inquiries and short age of open accounts. But on time payments and using the cards so they can make money on the interest payments I believe helps with them

How many times kaka has seen cards in this world cup?

13 yellow cards and 16 red cards all together 29 cards

How do you check credit without affecting your score?

Your credit score is based on your credit history. It is not the affected by the number of times you check your own credit rating. However, many credit scores factor the number of times someone else checks your credit and it may lower your score.

Samples of letter to explain why late on payment for credit cards?

You can try to write a letter explaining why you are late and they will probably give you grace one time, but not for repeated times. You can just state the reasons you were late in paying and ask them to waive the interest fee and not report you to the credit bureaus.