Posted on January 9, 2010.
If I get one of these credit cards bad credit does it help to rebuild credit? I just want to find one and cut it up and pay the fees they have on it and never use the card they report to credit agencies. I have a credit score of 530 today. If I did that and continued to pay my other bills on time, how long until I get a 650?
Im not sure this is the best option for you. Even if you get a credit of "bad" credit card there are many costs associated with them. If you really want to do read the fine print carefully. Many credit "bad" credit cards have a monthly fee to be part of their program or an annual fee that is divided into huge monthly fees. So even if you do not use the card, they will always make you pay a monthly fee. Even if you receive a credit card your score will not increase as rapidly. The only thing that will push up is time, time passing is defective items on your report age. I beg you not to get credit for those "bad" credit cards. Too many people came to my rescue and I often seen these types of credit cards make them bad. Good luck!
There is no sure way of calculating how long it will take to get from 530 to 650 because of all the different factors they take into consideration.
Keep a small balance on the card month to month and pay.
It will certainly help you. But you must do your part. Pay your bills on time.
Yes, it will help but I think you would be dependent "on him and pay on it for at least 6 mnths.
