Posted on: 02-12-08 15:37:55
best way is to get a secure card first. my sincere advice is not to apply for the credit cards for about a year. Once you maintain your credit history you they will pour you the cC
Just for info -
About 35% of the weightage for calculating the FICO (or Beacon) score is based on %age of credit limit utilised. The lower the %age utilisation, the better your credit score - all else being equal.
My suggestion -
try getting a "large" limit and religiously manage your payments - NEVER BE LATE.
If a "large"limit is not possible - DO NOT RUN YOUR CARD UP TO ITS LIMIT. Use your card for about 40% everymonth and pay cash for rest of the month, leaving approx 60% unutilised, this will help increase your score in a shorter period.
Rgds and good luck,
Newboyo
