Poor credit rating
Out of context: Reply #22
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- mayo0
haven't read any of the other posts (i really should be working), but i used to work at a bank and this is what i would say:
poor credit ratings last an average of 7 years. so you got awhile yet.
DON'T GET A CREDIT CARD unless you want to make your credit worse. No matter how you start off thinking you'll only use it for emergencies, it won't happen. The only "good debt" is realty. Just keep putting your money away for a house or something. Save save save.
if you MUST get a credit card. apply for a "secured card" which is a credit card that you had to open a savings account for. the savings account is frozen so you can't take out money from it. It will be worth the same amount as your credit card limit so that if you ever can't pay, they already have your money. You make payments to it and how well you do that helps you with your credit, but not much.
seriously, you're better off without a credit card. establish a good bank account and they will eventually change your card to a debit/cash card.