What is the best bank to help with peoples credit?SO right now I have America First Bank. Ok bank, been with them for 3 years. I love this bank but when it comes to building my credit. They don't help at all.. especially with people who have bad credit and in my case no credit whatsoever. I do have a few loans back then, the only problem is that I pay them all... |
See if you can get a secured card.
With this card you deposit an amount of about $300 and you get a debit card to use against the funds.
Rules: Never use more than 30% of the limit
Ex: $300 limit -never use more than $90
And always replace the money in full when you get the statement.
^ no games of carrying balances if you want good credit
In about a year, this card may turn into a credit card.
Again follow the rules. Keep spending low, and pay in full each month
It may be tough to get this secured card since you have a negative item on your credit report. But it is worth a try.
Citi, Discover, and Orchard bank have among the best secured cards out there
Annual fee will be about $40. Well worth it to develop great credit.
Careful of bad for credit credit cards.
Reviews call these the debil in plastic, and with good reason
They have annual fees of almost $200, and the limit is only about $250
Their interest rates start at 59% interest. So, don't touch these cards
In a way, I would be more focused on repairing your credit.
These creditors are going to start suing you (usually right before the statute of limitations is up). Get your credit reports once a year for free (all 3) at Annual Credit Report.com
Best cheapest way to establish credit is a secured bank loan pay off over 7 months and repeat. You have to pay loans over at least 6 months to gain any score. As to getting a mortgage you likely will need to wait several years, you have bad credit versus no credit and that is worse.
Bank with a credit union.
So your hospital bills have gone into collections? That's a good reason why your bank won't extend credit to you.
