I want to get approved for a decent card to improve credit. Plan to pay it off monthly. Just don't want to get turned down and also don't want to pay outrageous annual fees or maintenance fees.
Hello Carrie, your score seems to be on the average side so you should be able to find one with a half way decent rate. I would not expect the best rates but not the worst rates either. Also we need to take into account that credit card companies are being very thrifty with their credit lin es right now due to the economy. A couple years ago my hubby had a score in the low to mid 600 and his interst rates depending upon the card were anywhere under 21%. If it was through a bank it was much better. Let us know how things work out for you.
I think these days some of the intrest rate decision will be on the company itself too, if they are a finance company for people with a risky credit score, the rate will be much higher regardless of your score. My sister works for one of these companies.
Definatley, There is a huge difference in a bank interest rate then in a credit card or store account interest rate. Usually if it is a line of credit at a store or a credit card it will be almost 50% more than the banks rate. I recently had the bank give me a loan to pay off a credit card. my hubby and I got a rate of under 10% compared to the 21.0% of the credit card. Plus more money goes to pay on the principal therefore paying the debt off alot faster.
630 is a good credit score but not an excellent one. If your credit score is above 720, then it is considered an excellent score and you can get the lowest interest rate on these cards. The low interest cards do not have any annual fees and offer balance transfer facilities. In order to avoid rejection of your credit card application, you should first improve your credit score and then apply for such low interest rate cards. _________________ SCOTT
Use your credit account responsibly and enjoy a debt free life.
Subject: credit score 630
Tue Sep 04, 2012 10:50 pm
I have a credit score of 630 and i have capital one card, credit unions are the best to build your credit.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.