Description: This article is mainly focusing on introducing how the credit works, how to fix the credit on the quicksilver credit card and things to be attention to when using the credit card.
This article is going to be about how the credit works. Credit is even more important than having physical cash in the bank, with good credit you can get a car loan, you can buy a house. If you don’t have the physical money and your credit is good, banks will loan you the money that you need.
If you’re planning on something small like rent an apartment, when you go to a realtor they run your credit. So make sure that your credit is good. I got my credit card from Capital One when I was 18, it was easy to get, at that time I didn’t have credit and the credit limit was $300, but I ended up using maxing out the card and I owed them, so they closed that account and then my credit was ruined.
So now I had to fix my credit, I went back on Capital One and I tried to reapply for the card. So I’m telling you what you should do to fix the credit, the first thing that you need to do is to go to UM credit karma, which is a very good website, now it is free to sign up, fill out all the information. When you sign in, the bills and collections will be shown on the website, Credit Karma is totally confidential, so you don’t have to worry and it’s a total legal site.
I use Credit Karma to check my credit consistently, they also send me email whenever my credit score lowers or my goes up. If you have no credit, I would suggest applying for the card. I think they are going to approve for about $300 on the credit limit, but if you keep paying your bills on time or use the card to purchase little knickknacks like pump some gas or buy a little groceries then you pay the whole thing off or you could pay the minimum.
If you pay your payments on time, it will raise your credit in three to five months, then it will raise up to $500 or $1,000 from $300, it is not free money, you have to pay it back. Don’t keep spending money with the credit in the card, always keep in mind that you have to pay your bill on time, if you don’t pay it on time, you will have to pay extra money. But they have a reward program, when you spend money cash, they will have a percentage back, when you get to a certain points, you can redeem your cash reward.
When it comes to building your credit, or you want to know more, you should check on different card company websites, do research, look up the whole credit. If you have bills and collections, you don’t have to UM, or pay it all, because there are ways to wipe off your credit.