how to rebuild my credit?
Question: Seven years ago I was over my head in credit card debt and went to CCCS >for help. I paid back every cent of debt–over $20,000. I finished >the >CCCS program two years ago and have been sending in card offers hoping >to rebuild. I have only qualified for a $300 Capital One card. That >isn’t enough credit to be able to rent a car when I go on a trip and I >fear it isn’t enough to rebuild my credit.
Answer: Kind of late now but that’s why you should never go through CCCS. CCCS are really bill collectors and are looked at in the industry as such. * People that go through CCCS and pay everything back find that they cannot get any credit at all afterwords. The final slap in the face is the CCCS episode stays on your credit files for seven years after you finish paying!
If you really want a credit card then you can get a secured one but you will probably wind up paying a yearly membership fee and exorbitant interest rates. Of course you don’t want to carry a balance on the thing anyway so I guess the rate doesn’t matter.
Cash is king. To hell with credit. If the ultimate goal is to buy a house then there are alternative arrangements.
If anyone is thinking about going through CCCS, don’t! Best to settle your oustanding debts directly with your creditors.
-C
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