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Debt Relief: Difference between revisions
→Managing Your Credit
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*Apply for a [[Debt Relief:Definitions#secured card | secured card]] or deposit money in your checking account. | *Apply for a [[Debt Relief:Definitions#secured card | secured card]] or deposit money in your checking account. | ||
*Apply for a department store or gasoline credit card and build small balances, '''but pay them off in full each month'''. | *Apply for a department store or gasoline credit card and build small balances, '''but pay them off in full each month'''. | ||
*Do not use your credit cards to purchase food. You | *Do not use your credit cards to purchase food. You will pay 10 times more in interest than what one meal would have cost if you had paid cash. | ||
will pay 10 times more in interest than what one meal would have cost if you had paid cash. | |||
*If possible, consider transferring the balance of your credit card to a lower interest rate card. If you do this, immediately destroy the card with the high rate and close the account. | *If possible, consider transferring the balance of your credit card to a lower interest rate card. If you do this, immediately destroy the card with the high rate and close the account. | ||
Over time, your credit score will improve, and you will qualify for [[Debt Relief:Definitions#unsecured credit card| unsecured credit]] cards on your own. | Over time, your credit score will improve, and you will qualify for [[Debt Relief:Definitions#unsecured credit card| unsecured credit]] cards on your own. | ||