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Rebuild Credit History with Credit Cards for People with Bad Credit

Credit cards are a handy tool, to help you satisfy burgeoning shopping lists. However, if your spending habits are not kept in check, credit card debt can cumulatively turn into your worst nightmare.

There are various pointers to keep in mind when using your credit card:
  • It is not advisable to pay for things that your income can support, with a card. This only sinks you deeper into the ocean of debt, and you end up paying hefty interest charges. Try and use cash more often for such purchases.
  • Learn to pay more than the minimum payment. Revolving your credit only throws you deeper into the ocean of debt. Very often, you would find yourself in a situation where you pay more for the already expensive merchandise you have purchased because when the period of debt repayment has ended, better models of the same merchandise might be available at more attractive price points.
  • Always check your credit card statements. Though rare, mistakes are known to happen. Make sure you don’t pay for something you haven’t bought.

    Try and shop around for a credit card company, which can raise your APR. Don’t be afraid to look for a better deal. Also, if a company gives you a high credit limit, don’t be lulled into thinking that you actually have more money. Try and live within your means.

    If you haven’t followed the other rules so far, while using your credit card, starting just now is a good idea. Don’t apply for more credit than you think you can repay. In order to increase your credit rating with your credit card company, start making your monthly payments on time.

    If you’ve paid of your credit card debt, don’t be in a rush to close the account. Keep the card, and use it wisely. Paying your bills on time will definitely help you increase your credit rating or your credit score. Review your credit score to see if there are any obvious glitches you need to rectify. Doing this will definitely increase your score. Now credit card companies have come up with a way that customers can build up their credit rating with their cards, even if they have poor credit ratings. They issue customers with bad credit history, special cards called “poor credit history credit cards”. These are usually no frills cards and may even have a lower limit, but if you maintain these cards well, your credit rating will slowly improve.

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