How many credit cards should you have to rebuild credit?
Q. I am trying to rebuild my credit after ID theft, a couple of problems that were mine and years of basically not having any credit reported. (I primarily use my debit card and pay cash for everything). I make good money now and am trying to rebuild in order to purchase a condo in the next couple of years. My good accounts (rental, club, cable, cell, etc.) have not reported my good credit. So how many cards should I take out that will help boost my credit score but not hinder my credit. Thank you!
Asked by Nikita - Mon Mar 12 19:05:56 2007 - - 8 Answers - 1 Comments

A. I would take out no more than 2. I would start out with a secured card. Granted you would have to put a deposit upfront to secure a line of credit, but the deposit would also garner interest while you're proving your creditworthiness. You could start out small, like $200-300 or larger like $1000-2000. Either way, I strongly suggest you to continue to use your debit card and pay cash like you've been doing, and make small purchases that you can pay off in full every month (around $20-50). I would only use the credit card in dire emergencies. After the secured card becomes unsecured, then you could receive offers for other cards, but chances are just the one card could work just as well. Be sure to dispute anything that was involved in the… [cont.]
Answered by $m v - Tue Mar 13 09:06:57 2007

How does a credit limit work, I just got my first credit card?
Q. I just got my first credit card and it has a $2,500 limit on it. I have charged $2,225 on it. I will only be able to pay the minimum payment this bill cycle of $50. Though I should be able to pay it off in full by late September. In the mean time I need to pay some bills. Will I get a $2,500 credit limit the following cycle or just the remaining $275 until I pay the bill?
Asked by life - Mon Aug 3 20:30:13 2009 - - 5 Answers - 0 Comments

A. The credit limit is the highest balance you can have on the card at any one time. If your balance goes over the limit, you will most likely be hit with a service charge. To figure out how much you can use the card, subtract the current balance from $2,500 and that is your available credit (right now, it is $275...when you pay the $50, your balance will come down a little (probably about $20 with finance charge) and your available credit will go up a similar amount (assuming you haven't charged more in the meantime).
Answered by Steve D - Mon Aug 3 20:36:16 2009

How can you get the credit cards to stop coming to your un employed better half?
Q. She has went bankrupt twice and there is nothing i can do about it. The credit report is in both of our names because the state requires it. You cannot stop her from getting credit cards and ruining your credit unless you get a divorce. I dont have a credit card and on my credit report there are 16 credit cards with 4 in default? I am sick.
Asked by redeyefredeye - Fri Mar 20 08:39:31 2009 - - 5 Answers - 0 Comments

A. Point at the door. Tell her to take her cards with her.
Answered by wizjp - Fri Mar 20 08:47:20 2009